USS Investment Management Ltd Decreases Position in Ferguson plc $FERG

USS Investment Management Ltd reduced its stake in shares of Ferguson plc (NYSE:FERG) by 0.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,183,017 shares of the company’s stock after selling 9,042 shares during the period. Ferguson accounts for 1.2% of USS Investment Management Ltd’s portfolio, making the stock its 10th biggest holding. USS Investment Management Ltd owned 0.61% of Ferguson worth $275,986,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in FERG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ferguson by 23.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock valued at $2,445,000 after purchasing an additional 2,940 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of Ferguson in the first quarter worth $310,000. Focus Partners Wealth raised its position in shares of Ferguson by 22.7% during the 1st quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock valued at $503,000 after purchasing an additional 581 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Ferguson during the 2nd quarter valued at $257,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Ferguson by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock valued at $150,000 after buying an additional 48 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors.

Ferguson Stock Performance

Shares of NYSE FERG opened at $236.58 on Wednesday. The company has a market cap of $45.88 billion, a P/E ratio of 27.51, a P/E/G ratio of 1.69 and a beta of 1.15. Ferguson plc has a 52-week low of $207.64 and a 52-week high of $271.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78. The firm’s fifty day moving average is $237.84 and its two-hundred day moving average is $240.22.

Ferguson (NYSE:FERG) last released its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.14 by $0.14. The business 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 firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the company earned $2.50 EPS. As a group, analysts anticipate that Ferguson plc will post 11.26 EPS for the current fiscal year.

Ferguson announced that its board has initiated a share buyback program on Tuesday, May 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, May 15th. Ferguson’s payout ratio is currently 41.40%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FERG shares. Wells Fargo & Company increased their price target on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating 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 report on Wednesday, May 20th. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Royal Bank Of Canada increased their target price on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Finally, Barclays lifted their target price on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Ferguson currently has an average rating of “Moderate Buy” and a consensus price target of $277.58.

Ferguson Profile

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.