2,236,918 Shares in Ferguson plc $FERG Purchased by Norges Bank

Norges Bank acquired a new position in shares of Ferguson plc (NYSE:FERG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,236,918 shares of the company’s stock, valued at approximately $498,005,000. Norges Bank owned approximately 1.14% of Ferguson as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FERG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Ferguson by 23.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock worth $2,445,000 after purchasing an additional 2,940 shares in the last quarter. Caxton Associates LLP purchased a new position in Ferguson during the 1st quarter worth approximately $310,000. Focus Partners Wealth grew its position in Ferguson by 22.7% during the 1st quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock worth $503,000 after purchasing an additional 581 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Ferguson during the 2nd quarter worth approximately $257,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Ferguson by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock worth $150,000 after purchasing an additional 48 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on FERG shares. Weiss Ratings cut Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. Barclays lifted their target price on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Jefferies Financial Group reaffirmed a “buy” rating and set a $300.00 target price on shares of Ferguson in a research note on Tuesday, February 24th. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company lifted their target price on Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Two investment 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $269.73.

Ferguson Trading Down 0.0%

Ferguson stock opened at $225.88 on Monday. The stock has a market cap of $43.81 billion, a P/E ratio of 26.27, a P/E/G ratio of 1.60 and a beta of 1.15. The company’s fifty day simple moving average is $240.53 and its 200-day simple moving average is $242.00. Ferguson plc has a 12 month low of $177.75 and a 12 month high of $271.64. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68.

Ferguson (NYSE:FERG) last announced its quarterly 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 business had revenue of $7.47 billion during the quarter. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.50 EPS. As a group, sell-side analysts forecast that Ferguson plc will post 11.26 EPS for the current fiscal year.

Ferguson Dividend Announcement

The company 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 of this dividend is Friday, May 15th. This represents a $3.56 annualized dividend and a dividend yield of 1.6%. Ferguson’s payout ratio is presently 41.40%.

Ferguson announced that its Board of Directors has approved a stock buyback plan on Tuesday, May 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally an indication 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.