OMERS ADMINISTRATION Corp Buys 8,951 Shares of Ferguson plc $FERG

OMERS ADMINISTRATION Corp increased its stake in Ferguson plc (NYSE:FERG) by 105.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 17,444 shares of the company’s stock after buying an additional 8,951 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Ferguson were worth $4,069,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 buying an additional 2,940 shares during the period. Caxton Associates LLP bought a new position in shares of Ferguson in the first quarter valued at approximately $310,000. Focus Partners Wealth boosted its position in shares of Ferguson by 22.7% in the first quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock valued at $503,000 after acquiring an additional 581 shares during the period. Sivia Capital Partners LLC purchased a new position in Ferguson during the second quarter valued at approximately $257,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Ferguson by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock worth $150,000 after acquiring an additional 48 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Price Performance

FERG stock opened at $233.79 on Tuesday. The firm has a 50 day simple moving average of $230.08 and a two-hundred day simple moving average of $240.59. The stock has a market cap of $45.34 billion, a PE ratio of 27.19, a P/E/G ratio of 1.63 and a beta of 1.13. Ferguson plc has a one year low of $207.64 and a one year high of $271.64. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96.

Ferguson (NYSE:FERG) last posted its quarterly earnings data 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. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The firm had revenue of $7.47 billion for the quarter. During the same quarter last year, the business posted $2.50 EPS. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, analysts predict that Ferguson plc will post 11.3 EPS for the current fiscal year.

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

Ferguson Announces Dividend

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

Analyst Ratings Changes

FERG has been the topic of several recent analyst reports. Zelman & Associates upgraded shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 target price on the stock in a research note on Friday, July 17th. Royal Bank Of Canada upped their price target on shares of Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Citigroup reiterated a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Weiss Ratings raised Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company boosted their target price on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ferguson currently has an average rating of “Moderate Buy” and an average target price of $277.21.

Ferguson Company 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.