Geode Capital Management LLC Purchases 4,763 Shares of Ferguson plc $FERG

Geode Capital Management LLC lifted its position in Ferguson plc (NYSE:FERG) by 0.1% during the 4th quarter, Holdings Channel reports. The firm owned 3,382,738 shares of the company’s stock after buying an additional 4,763 shares during the quarter. Geode Capital Management LLC’s holdings in Ferguson were worth $750,840,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Leonteq Securities AG bought a new stake in shares of Ferguson in the 4th quarter worth about $26,000. Central Pacific Bank Trust Division bought a new stake in Ferguson during the 4th quarter worth about $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Ferguson during the 3rd quarter worth about $28,000. Cornerstone Planning Group LLC grew its holdings in Ferguson by 178.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock worth $31,000 after acquiring an additional 82 shares during the last quarter. Finally, Grove Bank & Trust grew its holdings in Ferguson by 154.4% during the 4th quarter. Grove Bank & Trust now owns 145 shares of the company’s stock worth $32,000 after acquiring an additional 88 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on FERG. Barclays increased their price objective on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Weiss Ratings lowered shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Wells Fargo & Company increased their price objective on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Citigroup reissued a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $300.00 price objective on shares of Ferguson in a report on Tuesday, February 24th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Ferguson currently has an average rating of “Moderate Buy” and an average target price of $269.73.

Ferguson Stock Down 0.3%

Shares of NYSE FERG opened at $225.88 on Friday. The firm has a market capitalization of $43.81 billion, a PE ratio of 26.27, a price-to-earnings-growth ratio of 1.60 and a beta of 1.23. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. 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 is $240.53 and its 200-day moving average is $242.07.

Ferguson (NYSE:FERG) last issued its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.14. The company had revenue of $7.47 billion for 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% compared to the same quarter last year. During the same period last year, the business posted $2.50 EPS. Equities analysts expect that Ferguson plc will post 11.26 EPS for the current year.

Ferguson Dividend Announcement

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

Ferguson declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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.