Fjarde AP Fonden Fourth Swedish National Pension Fund Lowers Stake in Ferguson plc $FERG

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its position in shares of Ferguson plc (NYSE:FERG) by 5.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,907 shares of the company’s stock after selling 3,000 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Ferguson were worth $12,224,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Basepoint Wealth LLC purchased a new position in Ferguson during the fourth quarter valued at approximately $26,000. Leonteq Securities AG purchased a new position in Ferguson during the fourth quarter valued at approximately $26,000. Central Pacific Bank Trust Division purchased a new position in Ferguson during the fourth quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL purchased a new position in Ferguson during the third quarter valued at approximately $28,000. Finally, Grove Bank & Trust lifted its holdings in Ferguson by 154.4% during the fourth 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. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FERG. Royal Bank Of Canada lifted their price target on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Wells Fargo & Company lifted their price target on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” 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 research report on Tuesday, February 24th. Oppenheimer lifted their price objective on shares of Ferguson from $255.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Finally, UBS Group lifted their price objective on shares of Ferguson from $220.00 to $252.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $273.64.

Ferguson Trading Down 0.6%

Ferguson stock opened at $229.14 on Friday. The stock has a market cap of $44.44 billion, a P/E ratio of 26.64, a PEG ratio of 1.63 and a beta of 1.15. 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 plc has a 1 year low of $207.64 and a 1 year high of $271.64. The firm’s 50 day moving average price is $241.02 and its 200-day moving average price is $241.33.

Ferguson (NYSE:FERG) last released its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share (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 net margin of 6.98% and a return on equity of 38.81%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.50 EPS. On average, equities analysts predict that Ferguson plc will post 11.26 earnings per share for the current fiscal year.

Ferguson announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, May 15th. Ferguson’s payout ratio is currently 41.40%.

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.