Swiss Life Asset Management Ltd Has $17.23 Million Position in Ferguson plc $FERG

Swiss Life Asset Management Ltd reduced its stake in shares of Ferguson plc (NYSE:FERG) by 5.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,390 shares of the company’s stock after selling 4,779 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Ferguson were worth $17,229,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Central Pacific Bank Trust Division bought a new position in shares of Ferguson during the 4th quarter valued at about $27,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Ferguson during the 3rd quarter valued at about $28,000. Cornerstone Planning Group LLC lifted its holdings in shares of Ferguson by 178.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock valued at $31,000 after purchasing an additional 82 shares in the last quarter. Grove Bank & Trust lifted its holdings in shares of Ferguson by 154.4% during the 4th quarter. Grove Bank & Trust now owns 145 shares of the company’s stock valued at $32,000 after purchasing an additional 88 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new position in shares of Ferguson during the 3rd quarter valued at about $34,000. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FERG shares. Citigroup reiterated a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Oppenheimer lifted their price objective on Ferguson from $255.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Weiss Ratings cut Ferguson from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Jefferies Financial Group reiterated a “buy” rating and set a $300.00 price objective on shares of Ferguson in a report on Tuesday, February 24th. Finally, Truist Financial lifted their price objective on Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.73.

Ferguson Trading Up 1.2%

NYSE FERG opened at $244.26 on Tuesday. The stock has a market capitalization of $47.37 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 1.71 and a beta of 1.23. The stock’s 50 day moving average price is $242.79 and its two-hundred day moving average price is $244.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88. Ferguson plc has a 52 week low of $173.53 and a 52 week high of $271.64.

Ferguson (NYSE:FERG) last released its earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.14 by $0.14. The firm had revenue of $7.47 billion for the quarter. Ferguson had a return on equity of 38.92% and a net margin of 6.98%.The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.50 EPS. As a group, analysts anticipate that Ferguson plc will post 11.23 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders 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 yield of 1.5%. Ferguson’s payout ratio is presently 40.36%.

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

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.