Ferguson plc $FERG Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lowered its position in shares of Ferguson plc (NYSE:FERG) by 55.9% in the second quarter, Holdings Channel.com reports. The fund owned 12,304 shares of the company’s stock after selling 15,612 shares during the quarter. Bank of Nova Scotia’s holdings in Ferguson were worth $2,920,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Compass Financial Management LLC purchased a new stake in shares of Ferguson during the second quarter worth $32,000. Greenland Capital Management LP acquired a new position in Ferguson during the second quarter worth about $1,481,000. Northwestern Mutual Wealth Management Co. boosted its position in Ferguson by 12.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 747 shares of the company’s stock worth $177,000 after acquiring an additional 81 shares during the last quarter. Findlay Park Partners LLP grew its stake in Ferguson by 24.6% during the 2nd quarter. Findlay Park Partners LLP now owns 618,810 shares of the company’s stock valued at $146,862,000 after acquiring an additional 122,100 shares in the last quarter. Finally, W1M Asset Management Ltd grew its stake in Ferguson by 6.2% during the 2nd quarter. W1M Asset Management Ltd now owns 1,980,510 shares of the company’s stock valued at $469,945,000 after acquiring an additional 116,418 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on FERG shares. UBS Group raised their target price on shares of Ferguson from $252.00 to $256.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Zelman & Associates upgraded Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price target for the company in a research report on Friday, July 17th. Oppenheimer increased their price target on Ferguson from $280.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Weiss Ratings upgraded Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $261.00 target price on shares of Ferguson in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Ferguson currently has an average rating of “Moderate Buy” and an average price target of $285.93.

Ferguson Stock Up 1.4%

FERG stock opened at $235.84 on Thursday. The firm has a market cap of $45.62 billion, a PE ratio of 27.71, a PEG ratio of 1.61 and a beta of 1.14. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.73. The firm’s 50 day moving average price is $237.26 and its 200-day moving average price is $239.91. Ferguson plc has a one year low of $207.64 and a one year high of $271.64.

Ferguson (NYSE:FERG) last announced its quarterly earnings results on Monday, August 10th. The company reported $3.39 EPS for the quarter, beating the consensus estimate of $3.23 by $0.16. The business had revenue of $8.75 billion for the quarter. Ferguson had a return on equity of 37.24% and a net margin of 6.82%. On average, equities research analysts anticipate that Ferguson plc will post 11.42 EPS for the current year.

Ferguson declared that its board has initiated a stock buyback program on Tuesday, May 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Friday, August 21st will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, August 21st. Ferguson’s dividend payout ratio (DPR) is 41.83%.

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.