Ferguson plc $FERG Shares Acquired by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Ferguson plc (NYSE:FERG) by 58.4% during the 1st quarter, HoldingsChannel reports. The fund owned 86,957 shares of the company’s stock after purchasing an additional 32,050 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Ferguson were worth $20,284,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of FERG. Raiffeisen Bank International AG raised its holdings in shares of Ferguson by 350,745.0% during the fourth quarter. Raiffeisen Bank International AG now owns 522,759 shares of the company’s stock valued at $116,382,000 after acquiring an additional 522,610 shares during the last quarter. Kinetic Partners Management LP boosted its stake in shares of Ferguson by 53.4% in the third quarter. Kinetic Partners Management LP now owns 349,000 shares of the company’s stock worth $78,378,000 after acquiring an additional 121,500 shares during the last quarter. Marsico Capital Management LLC purchased a new stake in shares of Ferguson during the fourth quarter worth approximately $11,017,000. Fieldview Capital Management LLC purchased a new stake in shares of Ferguson during the third quarter worth approximately $3,258,000. Finally, Swiss Life Asset Management Ltd raised its stake in Ferguson by 68.0% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 82,169 shares of the company’s stock valued at $18,454,000 after purchasing an additional 33,245 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Stock Performance

NYSE:FERG opened at $230.22 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96. The firm has a market capitalization of $44.65 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 1.63 and a beta of 1.13. The company’s 50-day moving average is $235.86 and its two-hundred day moving average is $240.20. Ferguson plc has a 1-year low of $207.64 and a 1-year high of $271.64.

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

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

Ferguson Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FERG shares. Weiss Ratings upgraded Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. Barclays increased their target price on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Royal Bank Of Canada raised their price target on shares of Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Citigroup restated a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company upped 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. One 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $277.58.

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.