USS Investment Management Ltd Trims Stake in Ferguson plc $FERG

USS Investment Management Ltd decreased its holdings in shares of Ferguson plc (NYSE:FERG) by 0.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,183,017 shares of the company’s stock after selling 9,042 shares during the quarter. Ferguson comprises about 1.2% of USS Investment Management Ltd’s investment portfolio, making the stock its 10th largest position. USS Investment Management Ltd’s holdings in Ferguson were worth $275,986,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Leonteq Securities AG bought a new stake in shares of Ferguson in the 4th quarter worth about $26,000. Basepoint Wealth LLC bought a new position in shares of Ferguson in the 4th quarter valued at about $26,000. Central Pacific Bank Trust Division bought a new position in shares of Ferguson in the 4th quarter valued at about $27,000. Strategic Investment Solutions Inc. IL purchased a new position in Ferguson in the third quarter worth about $28,000. Finally, Grove Bank & Trust grew its position in Ferguson by 154.4% in the fourth quarter. Grove Bank & Trust now owns 145 shares of the company’s stock worth $32,000 after acquiring an additional 88 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Citigroup restated a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Wells Fargo & Company boosted their target price on Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Barclays increased their price target on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Weiss Ratings lowered shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. Finally, Royal Bank Of Canada boosted their price objective on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research report 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $277.58.

Ferguson Stock Down 0.9%

Shares of NYSE:FERG opened at $236.58 on Wednesday. The firm has a market capitalization of $45.88 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. The business has a 50 day simple moving average of $237.84 and a two-hundred day simple moving average of $240.22. Ferguson plc has a 1 year low of $207.64 and a 1 year high of $271.64. 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. On average, equities analysts predict that Ferguson plc will post 11.26 EPS for the current year.

Ferguson Announces Dividend

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

Ferguson announced that its board has authorized a stock repurchase program on Tuesday, May 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Ferguson Company 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.