Forsta AP Fonden Buys 28,000 Shares of Ferguson plc $FERG

Forsta AP Fonden increased its position in Ferguson plc (NYSE:FERG) by 63.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,900 shares of the company’s stock after acquiring an additional 28,000 shares during the quarter. Forsta AP Fonden’s holdings in Ferguson were worth $16,007,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Ferguson during the fourth quarter valued at approximately $498,005,000. Durable Capital Partners LP purchased a new stake in shares of Ferguson in the third quarter worth $244,561,000. Qube Research & Technologies Ltd raised its position in shares of Ferguson by 588.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,087,523 shares of the company’s stock valued at $244,236,000 after purchasing an additional 929,475 shares during the period. Wellington Management Group LLP raised its position in shares of Ferguson by 22.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,734,911 shares of the company’s stock valued at $838,786,000 after purchasing an additional 682,666 shares during the period. Finally, 59 North Capital Management LP lifted its stake in shares of Ferguson by 114.7% during the 3rd quarter. 59 North Capital Management LP now owns 1,255,137 shares of the company’s stock valued at $281,879,000 after buying an additional 670,473 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FERG shares. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Oppenheimer raised their price target on Ferguson from $255.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Ferguson in a research note on Tuesday, February 24th. Weiss Ratings cut Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Finally, Wells Fargo & Company lifted their target price on Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $269.73.

Ferguson Stock Performance

FERG opened at $225.88 on Friday. The stock has a market capitalization of $43.81 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 1.60 and a beta of 1.23. The company has a fifty day moving average of $240.53 and a 200 day moving average of $242.07. Ferguson plc has a fifty-two week low of $177.75 and a fifty-two week high of $271.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.78.

Ferguson (NYSE:FERG) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, topping the consensus estimate 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 for the quarter. During the same quarter in the previous year, the firm earned $2.50 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Ferguson plc will post 11.26 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, May 15th. Ferguson’s payout ratio is 41.40%.

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

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.