Sterling Capital Management LLC Has $53.47 Million Stock Holdings in Ferguson plc $FERG

Sterling Capital Management LLC trimmed its stake in shares of Ferguson plc (NYSE:FERG) by 12.7% in the first quarter, HoldingsChannel.com reports. The fund owned 229,230 shares of the company’s stock after selling 33,277 shares during the quarter. Ferguson comprises about 1.0% of Sterling Capital Management LLC’s investment portfolio, making the stock its 18th biggest position. Sterling Capital Management LLC’s holdings in Ferguson were worth $53,470,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FERG. Leonteq Securities AG bought a new position in shares of Ferguson in the fourth quarter worth $26,000. Basepoint Wealth LLC bought a new stake in Ferguson during the fourth quarter worth about $26,000. Central Pacific Bank Trust Division bought a new stake in Ferguson during the fourth quarter worth about $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Ferguson during the third quarter worth about $28,000. Finally, Grove Bank & Trust grew its stake in Ferguson by 154.4% during the fourth quarter. Grove Bank & Trust now owns 145 shares of the company’s stock worth $32,000 after buying an additional 88 shares in the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Royal Bank Of Canada boosted their target price on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Barclays increased their price target on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Wells Fargo & Company lifted their price objective on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings downgraded shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Finally, Citigroup restated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Ferguson has an average rating of “Moderate Buy” and a consensus target price of $277.58.

Ferguson Stock Down 1.1%

Shares of NYSE:FERG opened at $238.08 on Friday. The company has a fifty day moving average of $238.71 and a 200-day moving average of $240.14. The company has a market capitalization of $46.17 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 1.70 and a beta of 1.15. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78. Ferguson plc has a 52-week low of $207.64 and a 52-week high of $271.64.

Ferguson (NYSE:FERG) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.14. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The company had revenue of $7.47 billion during the quarter. During the same quarter in the previous year, the company posted $2.50 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. On average, equities analysts predict that Ferguson plc will post 11.26 EPS for the current fiscal year.

Ferguson Announces Dividend

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 given 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 dividend payout ratio (DPR) is currently 41.40%.

Ferguson announced that its board has authorized a stock buyback program on Tuesday, May 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management 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.