Ferguson plc $FERG Stake Decreased by Fiduciary Management Inc. WI

Fiduciary Management Inc. WI reduced its stake in Ferguson plc (NYSE:FERG) by 25.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,486,106 shares of the company’s stock after selling 495,516 shares during the quarter. Ferguson accounts for approximately 3.6% of Fiduciary Management Inc. WI’s portfolio, making the stock its 4th largest holding. Fiduciary Management Inc. WI’s holdings in Ferguson were worth $330,852,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank purchased a new stake in Ferguson during the fourth quarter valued at about $498,005,000. Durable Capital Partners LP purchased a new stake in Ferguson during the third quarter valued at about $244,561,000. Qube Research & Technologies Ltd lifted its holdings in Ferguson by 588.1% during the third 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 last quarter. Wellington Management Group LLP lifted its holdings in Ferguson by 22.4% during the third 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 last quarter. Finally, 59 North Capital Management LP lifted its holdings in Ferguson by 114.7% during the third quarter. 59 North Capital Management LP now owns 1,255,137 shares of the company’s stock valued at $281,879,000 after purchasing an additional 670,473 shares during the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Trading Down 0.6%

Shares of FERG opened at $229.14 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68. The business’s 50-day moving average price is $241.02 and its 200-day moving average price is $241.33. The stock has a market cap of $44.44 billion, a PE ratio of 26.64, a P/E/G ratio of 1.63 and a beta of 1.15. Ferguson plc has a twelve month low of $207.64 and a twelve month high of $271.64.

Ferguson (NYSE:FERG) last posted its quarterly earnings data 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. The company 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 firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $2.50 earnings per share. On average, equities analysts forecast that Ferguson plc will post 11.26 EPS for the current fiscal year.

Ferguson Announces Dividend

The business also recently disclosed 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 dividend yield of 1.6%. The ex-dividend date is Friday, May 15th. Ferguson’s dividend payout ratio is 41.40%.

Ferguson declared that its board has authorized a stock 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 repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

FERG has been the topic of several recent research reports. Barclays upped their price objective on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Truist Financial upped their price objective on shares of Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. UBS Group upped their price objective on shares of Ferguson from $220.00 to $252.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Weiss Ratings downgraded shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $300.00 price objective on shares of Ferguson in a report on Tuesday, February 24th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.64.

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.