TD Asset Management Inc Sells 113,902 Shares of Ferguson plc $FERG

TD Asset Management Inc reduced its stake in Ferguson plc (NYSE:FERG) by 29.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 266,890 shares of the company’s stock after selling 113,902 shares during the period. TD Asset Management Inc’s holdings in Ferguson were worth $59,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Basepoint Wealth LLC bought a new position in shares of Ferguson in the fourth quarter worth $26,000. Leonteq Securities AG bought a new stake in Ferguson during the fourth quarter valued at $26,000. Central Pacific Bank Trust Division bought a new stake in Ferguson during the fourth quarter valued at $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Ferguson during the third quarter valued at $28,000. Finally, Cornerstone Planning Group LLC boosted its stake in Ferguson by 178.3% during the third quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock valued at $31,000 after buying an additional 82 shares during the period. 81.98% of the stock is owned by institutional investors.

Ferguson Trading Down 0.6%

NYSE FERG opened at $229.14 on Friday. The stock’s 50-day simple moving average is $241.02 and its two-hundred day simple moving average is $241.33. Ferguson plc has a twelve month low of $207.64 and a twelve 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. The company has a market capitalization of $44.44 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 1.63 and a beta of 1.15.

Ferguson (NYSE:FERG) last released its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter. During the same quarter in the previous year, the business earned $2.50 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. Research analysts forecast that Ferguson plc will post 11.26 EPS for the current fiscal year.

Ferguson announced that its board has authorized a share buyback plan on Tuesday, May 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Ferguson Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FERG shares. Barclays lifted their price objective on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Citigroup reissued a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. UBS Group lifted their price objective on Ferguson from $220.00 to $252.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Truist Financial lifted their price objective on Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, Weiss Ratings lowered Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. Two analysts have 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $273.64.

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.