Sterling Capital Management LLC Sells 33,277 Shares of Ferguson plc $FERG

Sterling Capital Management LLC lessened its stake in Ferguson plc (NYSE:FERG) by 12.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 229,230 shares of the company’s stock after selling 33,277 shares during the quarter. Ferguson makes up 1.0% of Sterling Capital Management LLC’s holdings, making the stock its 18th biggest position. Sterling Capital Management LLC owned about 0.12% of Ferguson worth $53,470,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in FERG. Basepoint Wealth LLC acquired a new stake in Ferguson in the fourth quarter valued at $26,000. Leonteq Securities AG acquired a new position in shares of Ferguson during the 4th quarter worth about $26,000. Central Pacific Bank Trust Division bought a new stake in shares of Ferguson in the 4th quarter valued at about $27,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Ferguson in the 3rd quarter valued at about $28,000. Finally, Zions Bancorporation National Association UT lifted its stake in Ferguson by 123.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after purchasing an additional 79 shares during the last quarter. 81.98% of the stock is owned by institutional investors.

Ferguson Stock Performance

FERG opened at $238.08 on Friday. The business has a fifty day simple moving average of $238.71 and a 200 day simple moving average of $240.14. The company has a market capitalization of $46.17 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 1.70 and a beta of 1.15. Ferguson plc has a 1 year low of $207.64 and a 1 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 issued its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.14. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The firm had revenue of $7.47 billion for the quarter. During the same period in the prior year, the company earned $2.50 earnings per share. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. Research analysts expect that Ferguson plc will post 11.26 EPS for the current year.

Ferguson Announces Dividend

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

Ferguson announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

FERG has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their price target on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Weiss Ratings cut Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Barclays lifted their target price on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Citigroup reissued a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Finally, Wells Fargo & Company increased their price target on Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. 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 data from MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and a consensus target price 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.