Goldman Sachs Group Inc. Has $431.79 Million Position in Ferguson plc $FERG

Goldman Sachs Group Inc. reduced its stake in Ferguson plc (NYSE:FERG) by 43.8% during the fourth quarter, HoldingsChannel reports. The firm owned 1,939,477 shares of the company’s stock after selling 1,513,338 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Ferguson were worth $431,786,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Basepoint Wealth LLC acquired a new stake in shares of Ferguson in the 4th quarter valued at approximately $26,000. Leonteq Securities AG acquired a new stake in shares of Ferguson in the 4th quarter valued at approximately $26,000. Central Pacific Bank Trust Division acquired a new stake in shares of Ferguson in the 4th quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Ferguson in the 3rd quarter valued at approximately $28,000. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Ferguson by 178.3% in 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. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Stock Up 2.1%

Shares of NYSE FERG opened at $230.92 on Friday. The company has a 50 day simple moving average of $241.01 and a 200 day simple moving average of $241.41. The firm has a market cap of $44.78 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.60 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.14. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The business had revenue of $7.47 billion during the quarter. During the same quarter last year, the business earned $2.50 EPS. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, research analysts forecast that Ferguson plc will post 11.26 EPS for the current year.

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

Ferguson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.89 per share. The ex-dividend date is Friday, May 15th. This represents a $3.56 annualized dividend and a yield of 1.5%. Ferguson’s dividend payout ratio (DPR) is presently 41.40%.

Wall Street Analyst Weigh In

FERG has been the topic of a number of research analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $300.00 price target on shares of Ferguson in a research note on Tuesday, February 24th. UBS Group raised their price objective on shares of Ferguson from $220.00 to $252.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Citigroup reiterated a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Weiss Ratings lowered shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Finally, Truist Financial raised their price objective on shares of Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $273.64.

About Ferguson

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.