MUFG Securities EMEA plc Reduces Holdings in Ferguson plc $FERG

MUFG Securities EMEA plc trimmed its holdings in shares of Ferguson plc (NYSE:FERG) by 75.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,000 shares of the company’s stock after selling 27,000 shares during the quarter. MUFG Securities EMEA plc’s holdings in Ferguson were worth $2,004,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AdvisorShares Investments LLC grew its position in shares of Ferguson by 40.5% during the 4th quarter. AdvisorShares Investments LLC now owns 527 shares of the company’s stock valued at $117,000 after acquiring an additional 152 shares during the period. Forsta AP Fonden raised its holdings in Ferguson by 63.8% in the 4th quarter. Forsta AP Fonden now owns 71,900 shares of the company’s stock worth $16,007,000 after purchasing an additional 28,000 shares during the period. Norges Bank purchased a new position in Ferguson during the fourth quarter valued at $498,005,000. Eurizon Capital SGR S.p.A. bought a new stake in Ferguson during the fourth quarter valued at about $10,426,000. Finally, Zhang Financial LLC grew its holdings in Ferguson by 5.5% during the fourth quarter. Zhang Financial LLC now owns 33,468 shares of the company’s stock valued at $7,451,000 after purchasing an additional 1,734 shares during the period. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Trading Down 0.7%

Ferguson stock opened at $224.42 on Tuesday. Ferguson plc has a 1 year low of $177.75 and a 1 year high of $271.64. The firm’s 50 day moving average price is $240.66 and its 200-day moving average price is $241.79. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96. The stock has a market cap of $43.52 billion, a P/E ratio of 26.09, a PEG ratio of 1.60 and a beta of 1.23.

Ferguson (NYSE:FERG) last posted its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.14. The company had revenue of $7.47 billion during the quarter. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.50 earnings per share. On average, equities analysts predict that Ferguson plc will post 11.26 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th will be given a dividend of $0.89 per share. The ex-dividend date is Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. Ferguson’s dividend payout ratio (DPR) is presently 41.40%.

Ferguson announced that its board has approved a share repurchase program on Tuesday, May 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

FERG has been the topic of several recent research reports. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Weiss Ratings downgraded Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. Jefferies Financial Group reissued a “buy” rating and issued a $300.00 target price on shares of Ferguson in a report on Tuesday, February 24th. Barclays raised their target price on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Oppenheimer upped their price target on shares of Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $269.73.

About Ferguson

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.