Pictet Asset Management Holding SA Grows Stock Position in Ferguson plc $FERG

Pictet Asset Management Holding SA raised its holdings in shares of Ferguson plc (NYSE:FERG) by 9.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,868,181 shares of the company’s stock after acquiring an additional 240,666 shares during the quarter. Ferguson makes up 0.7% of Pictet Asset Management Holding SA’s investment portfolio, making the stock its 25th largest position. Pictet Asset Management Holding SA owned approximately 1.48% of Ferguson worth $668,809,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Basepoint Wealth LLC acquired a new stake in shares of Ferguson in the fourth quarter valued at approximately $26,000. Leonteq Securities AG acquired a new position in shares of Ferguson during the 4th quarter worth approximately $26,000. Central Pacific Bank Trust Division purchased a new stake in Ferguson in the 4th quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in Ferguson during the 3rd quarter valued at $28,000. Finally, Zions Bancorporation National Association UT increased its position in Ferguson by 123.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock worth $32,000 after buying an additional 79 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on FERG. Wells Fargo & Company boosted their price target on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Weiss Ratings cut Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Citigroup reissued a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. 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. Finally, Barclays boosted their price objective 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. One analyst has 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 data from MarketBeat.com, the company presently 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 stock’s 50-day moving average price is $238.71 and its two-hundred day moving average price is $240.14. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68. Ferguson plc has a 12-month low of $207.64 and a 12-month high of $271.64. The firm has a market cap of $46.17 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.69 and a beta of 1.15.

Ferguson (NYSE:FERG) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.14. The company 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 company’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.50 EPS. On average, research analysts forecast that Ferguson plc will post 11.26 EPS for the current year.

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.56 annualized dividend and a yield of 1.5%. Ferguson’s dividend payout ratio is 41.40%.

Ferguson declared that its Board of Directors has authorized 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 reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are 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.