Goldman Sachs Group Inc. Sells 1,513,338 Shares of Ferguson plc $FERG

Goldman Sachs Group Inc. cut its stake in Ferguson plc (NYSE:FERG) by 43.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,939,477 shares of the company’s stock after selling 1,513,338 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.99% of Ferguson worth $431,786,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FERG. Atria Investments Inc increased its position in Ferguson by 38.2% during the third quarter. Atria Investments Inc now owns 15,401 shares of the company’s stock worth $3,459,000 after acquiring an additional 4,259 shares during the period. Kinetic Partners Management LP increased its position in Ferguson by 53.4% during the third quarter. Kinetic Partners Management LP now owns 349,000 shares of the company’s stock worth $78,378,000 after acquiring an additional 121,500 shares during the period. C WorldWide Group Holding A S increased its position in Ferguson by 108.8% during the third quarter. C WorldWide Group Holding A S now owns 535,363 shares of the company’s stock worth $120,232,000 after acquiring an additional 278,971 shares during the period. Cibc World Market Inc. increased its position in Ferguson by 79.6% during the third quarter. Cibc World Market Inc. now owns 12,328 shares of the company’s stock worth $2,769,000 after acquiring an additional 5,463 shares during the period. Finally, Fieldview Capital Management LLC bought a new position in Ferguson during the third quarter worth about $3,258,000. 81.98% of the stock is owned by institutional investors.

Ferguson Trading Up 2.1%

Shares of Ferguson stock opened at $230.92 on Friday. The company has a market capitalization of $44.78 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.60 and a beta of 1.15. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68. Ferguson plc has a 12-month low of $207.64 and a 12-month high of $271.64. The firm’s 50-day moving average price is $241.01 and its two-hundred day moving average price is $241.41.

Ferguson (NYSE:FERG) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. The firm 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 company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.50 earnings per share. On average, analysts forecast that Ferguson plc will post 11.26 earnings per share for the current fiscal year.

Ferguson announced that its board has authorized a share repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Ferguson Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently commented on FERG shares. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Barclays raised their price target on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Wells Fargo & Company raised their price target on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Truist Financial raised their price target on shares of Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Finally, Royal Bank Of Canada raised their price target on shares of Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $273.64.

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.