Mawer Investment Management Ltd. Has $188.55 Million Position in Ferguson plc $FERG

Mawer Investment Management Ltd. cut its position in Ferguson plc (NYSE:FERG) by 7.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 846,921 shares of the company’s stock after selling 64,456 shares during the quarter. Ferguson comprises 1.1% of Mawer Investment Management Ltd.’s portfolio, making the stock its 28th biggest holding. Mawer Investment Management Ltd.’s holdings in Ferguson were worth $188,550,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Ferguson by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 19,418,334 shares of the company’s stock valued at $4,323,104,000 after purchasing an additional 102,850 shares during the last quarter. State Street Corp grew its holdings in Ferguson by 1.9% during the 3rd quarter. State Street Corp now owns 4,437,468 shares of the company’s stock worth $1,000,152,000 after acquiring an additional 81,094 shares during the last quarter. Franklin Resources Inc. grew its holdings in Ferguson by 2.6% during the 3rd quarter. Franklin Resources Inc. now owns 4,367,818 shares of the company’s stock worth $980,921,000 after acquiring an additional 112,157 shares during the last quarter. Wellington Management Group LLP grew its holdings in Ferguson by 22.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,734,911 shares of the company’s stock worth $838,786,000 after acquiring an additional 682,666 shares during the last quarter. Finally, Soroban Capital Partners LP grew its holdings in Ferguson by 2.8% during the 2nd quarter. Soroban Capital Partners LP now owns 3,705,056 shares of the company’s stock worth $806,776,000 after acquiring an additional 100,559 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Stock Down 0.7%

Ferguson stock opened at $224.42 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68. Ferguson plc has a 12-month low of $177.75 and a 12-month high of $271.64. The firm’s fifty day moving average is $240.66 and its 200 day moving average is $241.79. The company has a market capitalization of $43.52 billion, a PE ratio of 26.09, a PEG ratio of 1.60 and a beta of 1.23.

Ferguson (NYSE:FERG) last released its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.14. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The company had revenue of $7.47 billion for the quarter. During the same quarter in the previous year, the firm earned $2.50 EPS. The firm’s revenue was up 3.6% on a year-over-year basis. As a group, sell-side analysts predict that Ferguson plc will post 11.26 EPS for the current fiscal year.

Ferguson declared that its board has authorized a stock buyback program on Tuesday, May 5th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire 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 stock is undervalued.

Ferguson Dividend Announcement

The business also recently announced 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. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, May 15th. Ferguson’s payout ratio is presently 41.40%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FERG shares. Truist Financial boosted their target price on shares of Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Barclays boosted their target price on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Wells Fargo & Company boosted their target price on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Oppenheimer boosted their target price on shares of Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $300.00 target price on shares of Ferguson in a report on Tuesday, February 24th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Ferguson has an average rating of “Moderate Buy” and a consensus price target of $269.73.

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.