Public Employees Retirement System of Ohio Has $15.33 Million Stock Position in Ferguson plc $FERG

Public Employees Retirement System of Ohio reduced its position in shares of Ferguson plc (NYSE:FERG) by 3.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 65,715 shares of the company’s stock after selling 2,436 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Ferguson were worth $15,329,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in FERG. Leonteq Securities AG bought a new position in shares of Ferguson in the 4th quarter valued at about $26,000. Basepoint Wealth LLC bought a new stake in shares of Ferguson during the fourth quarter worth approximately $26,000. Zions Bancorporation National Association UT lifted its holdings in Ferguson by 123.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after buying an additional 79 shares during the period. Johnson Financial Group Inc. acquired a new position in Ferguson in the third quarter valued at approximately $34,000. Finally, Cornerstone Planning Group LLC boosted its stake in Ferguson by 53.9% in the fourth quarter. Cornerstone Planning Group LLC now owns 197 shares of the company’s stock valued at $44,000 after acquiring an additional 69 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson News Summary

Here are the key news stories impacting Ferguson this week:

• Neutral Sentiment: The latest headlines center on personal and royal-family developments involving Sarah Ferguson, including Epstein-related fallout, charity closures, and speculation about her finances. These stories are unrelated to Ferguson plc’s operations, earnings, or outlook.
• Neutral Sentiment: One article suggests Sarah Ferguson may inherit part of a late ex’s fortune, while another reports on her longtime friend Paddy McNally’s death. These are personal-news items and are unlikely to affect investor sentiment toward Ferguson plc.
• Neutral Sentiment: Several reports about Sarah Ferguson keeping a low profile and her charity shutting down are likely to be ignored by investors in Ferguson plc (FERG) because they do not relate to the industrial distributor’s business performance.

Ferguson Stock Up 0.7%

Shares of NYSE:FERG opened at $230.36 on Friday. Ferguson plc has a 52 week low of $207.64 and a 52 week high of $271.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78. The company has a market capitalization of $44.68 billion, a PE ratio of 26.79, a PEG ratio of 1.63 and a beta of 1.13. The company has a 50 day moving average price of $229.80 and a two-hundred day moving average price of $240.45.

Ferguson (NYSE:FERG) last released its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. The company had revenue of $7.47 billion for the quarter. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.50 EPS. Analysts forecast that Ferguson plc will post 11.3 earnings per share for the current year.

Ferguson announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th were given 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 was Friday, May 15th. Ferguson’s payout ratio is 41.40%.

Analyst Ratings Changes

FERG has been the subject of a number of analyst reports. Weiss Ratings raised shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Barclays increased their price target on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Zelman & Associates upgraded Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price target on the stock in a research report on Friday, July 17th. Wells Fargo & Company lifted their price objective on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada increased their target price on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.