Ferguson plc $FERG Stock Holdings Lessened by Soroban Capital Partners LP

Soroban Capital Partners LP cut its holdings in Ferguson plc (NYSE:FERG) by 19.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,398,367 shares of the company’s stock after selling 579,825 shares during the period. Ferguson comprises approximately 1.1% of Soroban Capital Partners LP’s holdings, making the stock its 12th biggest position. Soroban Capital Partners LP owned 1.24% of Ferguson worth $559,443,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Basepoint Wealth LLC bought a new position in Ferguson in the fourth quarter worth about $26,000. Leonteq Securities AG bought a new position in shares of Ferguson during the fourth quarter valued at approximately $26,000. Zions Bancorporation National Association UT grew its holdings in shares of Ferguson by 123.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after purchasing an additional 79 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Ferguson during the 3rd quarter worth approximately $34,000. Finally, Cornerstone Planning Group LLC raised its position in shares of Ferguson by 53.9% during the 4th quarter. Cornerstone Planning Group LLC now owns 197 shares of the company’s stock worth $44,000 after purchasing an additional 69 shares during the period. Institutional investors own 81.98% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on FERG shares. Royal Bank Of Canada raised their price target on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Citigroup restated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Barclays increased their target price on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings raised shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Finally, Zelman & Associates raised shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price target for the company in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $277.21.

Ferguson Stock Performance

FERG opened at $233.79 on Tuesday. The business’s 50 day moving average is $230.08 and its 200-day moving average is $240.59. The stock has a market cap of $45.34 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.63 and a beta of 1.13. 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 twelve month low of $207.64 and a twelve month high of $271.64.

Ferguson (NYSE:FERG) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) 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 business had revenue of $7.47 billion during the quarter. During the same quarter in the prior year, the firm posted $2.50 earnings per share. The business’s quarterly revenue was up 3.6% on a year-over-year basis. On average, analysts predict that Ferguson plc will post 11.3 earnings per share for the current year.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was 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 allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board 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.