TD Asset Management Inc Decreases Stock Holdings in Ferguson plc $FERG

TD Asset Management Inc trimmed its holdings in shares of Ferguson plc (NYSE:FERG) by 29.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 266,890 shares of the company’s stock after selling 113,902 shares during the quarter. TD Asset Management Inc owned 0.14% of Ferguson worth $59,401,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Basepoint Wealth LLC purchased a new stake in shares of Ferguson during the fourth quarter valued at approximately $26,000. Leonteq Securities AG purchased a new stake in shares of Ferguson during the fourth quarter valued at approximately $26,000. Central Pacific Bank Trust Division purchased a new stake in shares of Ferguson during the fourth quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Ferguson during the third quarter valued at approximately $28,000. Finally, Cornerstone Planning Group LLC increased its position in shares of Ferguson by 178.3% during the third quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock valued at $31,000 after acquiring an additional 82 shares during the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Price Performance

Shares of NYSE FERG opened at $229.14 on Friday. The stock has a fifty day simple moving average of $241.02 and a two-hundred day simple moving average of $241.33. Ferguson plc has a 1-year low of $207.64 and a 1-year high of $271.64. The firm has a market cap of $44.44 billion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68.

Ferguson (NYSE:FERG) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.14. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The business had revenue of $7.47 billion during the quarter. During the same period last year, the company posted $2.50 earnings per share. Ferguson’s revenue for the quarter was up 3.6% on a year-over-year basis. Analysts anticipate that Ferguson plc will post 11.26 earnings per share for the current year.

Ferguson declared that its board has approved a share buyback program on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is presently 41.40%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Oppenheimer increased 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. UBS Group increased their price objective on Ferguson from $220.00 to $252.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Jefferies Financial Group reissued a “buy” rating and set a $300.00 price objective on shares of Ferguson in a report on Tuesday, February 24th. Barclays increased their price objective on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, Citigroup reissued a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Two research 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $273.64.

Ferguson 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.