Ferguson plc $FERG Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its holdings in Ferguson plc (NYSE:FERG) by 8.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 84,187 shares of the company’s stock after selling 7,909 shares during the quarter. BNP Paribas Financial Markets’ holdings in Ferguson were worth $18,743,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. AdvisorShares Investments LLC grew its position in Ferguson by 40.5% in the fourth quarter. AdvisorShares Investments LLC now owns 527 shares of the company’s stock worth $117,000 after buying an additional 152 shares during the last quarter. Forsta AP Fonden grew its position in Ferguson by 63.8% during the 4th quarter. Forsta AP Fonden now owns 71,900 shares of the company’s stock worth $16,007,000 after purchasing an additional 28,000 shares in the last quarter. Norges Bank purchased a new position in Ferguson during the 4th quarter worth approximately $498,005,000. Eurizon Capital SGR S.p.A. purchased a new position in Ferguson during the 4th quarter worth approximately $10,426,000. Finally, Zhang Financial LLC grew its position in Ferguson by 5.5% during the 4th quarter. Zhang Financial LLC now owns 33,468 shares of the company’s stock worth $7,451,000 after purchasing an additional 1,734 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FERG shares. Barclays lifted their price objective on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings cut shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Royal Bank Of Canada lifted their price objective on shares of Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. UBS Group lifted their price objective on shares of Ferguson from $220.00 to $252.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Finally, Citigroup reiterated a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $273.64.

Ferguson Trading Down 0.6%

Shares of NYSE:FERG opened at $229.14 on Friday. The firm has a fifty day moving average of $241.02 and a two-hundred day moving average of $241.33. The firm has a market capitalization of $44.44 billion, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15. Ferguson plc has a 12-month low of $207.64 and a 12-month high of $271.64. 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 (NYSE:FERG) last issued 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. 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 quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the business earned $2.50 EPS. On average, equities analysts expect that Ferguson plc will post 11.26 EPS for the current fiscal year.

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. Ferguson’s dividend payout ratio (DPR) is 41.40%.

Ferguson announced that its Board of Directors has initiated a share repurchase plan on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to buy up to 3.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.