MUFG Securities EMEA plc Decreases Stock Holdings in Ferguson plc $FERG

MUFG Securities EMEA plc reduced its position in shares of Ferguson plc (NYSE:FERG) by 75.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,000 shares of the company’s stock after selling 27,000 shares during the quarter. MUFG Securities EMEA plc’s holdings in Ferguson were worth $2,004,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of FERG. AdvisorShares Investments LLC increased its position in Ferguson by 40.5% in the fourth quarter. AdvisorShares Investments LLC now owns 527 shares of the company’s stock worth $117,000 after purchasing an additional 152 shares during the last quarter. Forsta AP Fonden lifted its position in Ferguson by 63.8% during the fourth quarter. Forsta AP Fonden now owns 71,900 shares of the company’s stock valued at $16,007,000 after purchasing an additional 28,000 shares during the last quarter. Norges Bank purchased a new position in shares of Ferguson in the 4th quarter worth $498,005,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Ferguson in the 4th quarter worth $10,426,000. Finally, Zhang Financial LLC increased its holdings in shares of Ferguson by 5.5% in the 4th quarter. Zhang Financial LLC now owns 33,468 shares of the company’s stock worth $7,451,000 after buying an additional 1,734 shares during the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FERG has been the topic of several recent research reports. UBS Group upped their target price 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. Barclays boosted their price objective on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Wells Fargo & Company upped their price objective on Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada raised their price objective on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Finally, Truist Financial lifted their target price on Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Ferguson currently has a consensus rating of “Moderate Buy” and an average price target of $269.73.

Ferguson Stock Down 0.7%

Shares of NYSE FERG opened at $224.42 on Tuesday. Ferguson plc has a 1 year low of $177.75 and a 1 year high of $271.64. The firm has a 50-day simple moving average of $240.66 and a two-hundred day simple moving average of $241.79. The company has a market cap of $43.52 billion, a P/E ratio of 26.09, a PEG ratio of 1.60 and a beta of 1.23. 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 (NYSE:FERG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, topping 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 firm had revenue of $7.47 billion for the quarter. During the same quarter in the previous year, the company posted $2.50 earnings per share. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. Research analysts anticipate that Ferguson plc will post 11.26 earnings per share for the current year.

Ferguson Announces Dividend

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

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 outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.