OP Asset Management Ltd Acquires Shares of 39,376 Ferguson plc $FERG

OP Asset Management Ltd acquired a new position in Ferguson plc (NYSE:FERG) during the first quarter, HoldingsChannel reports. The fund acquired 39,376 shares of the company’s stock, valued at approximately $9,185,000.

Several other large investors also recently made changes to their positions in the business. Leonteq Securities AG acquired a new stake in shares of Ferguson in the fourth quarter valued at $26,000. Basepoint Wealth LLC acquired a new position in Ferguson during 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. Finally, Grove Bank & Trust increased its position in Ferguson by 154.4% in the 4th quarter. Grove Bank & Trust now owns 145 shares of the company’s stock valued at $32,000 after acquiring an additional 88 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

Ferguson stock opened at $240.83 on Friday. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68. Ferguson plc has a 1 year low of $207.64 and a 1 year high of $271.64. The company has a market cap of $46.71 billion, a PE ratio of 28.00, a PEG ratio of 1.68 and a beta of 1.15. The company’s 50-day moving average is $239.08 and its two-hundred day moving average is $240.15.

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. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The company had revenue of $7.47 billion for the quarter. During the same period last year, the business posted $2.50 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities analysts anticipate that Ferguson plc will post 11.26 earnings per share for the current year.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be issued 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 of this dividend is Friday, May 15th. Ferguson’s payout ratio is currently 41.40%.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on FERG shares. Wells Fargo & Company boosted their target price on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings lowered shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Barclays boosted their price objective 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. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada increased their price objective on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ferguson currently has an average rating of “Moderate Buy” and a consensus price target of $277.58.

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.