California State Teachers Retirement System Sells 9,047 Shares of Ferguson plc $FERG

California State Teachers Retirement System lowered its position in Ferguson plc (NYSE:FERG) by 3.0% during the first quarter, Holdings Channel reports. The institutional investor owned 293,244 shares of the company’s stock after selling 9,047 shares during the quarter. California State Teachers Retirement System’s holdings in Ferguson were worth $68,402,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of FERG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Ferguson by 23.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock valued at $2,445,000 after acquiring an additional 2,940 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Ferguson during the first quarter worth $310,000. Focus Partners Wealth increased its position in shares of Ferguson by 22.7% during the first quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock worth $503,000 after purchasing an additional 581 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Ferguson during the 2nd quarter valued at $257,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Ferguson by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock worth $150,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of FERG opened at $226.74 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78. The stock has a 50-day moving average of $230.40 and a two-hundred day moving average of $240.56. The stock has a market cap of $43.97 billion, a P/E ratio of 26.37, a P/E/G ratio of 1.60 and a beta of 1.13. Ferguson plc has a one year low of $207.64 and a one year high of $271.64.

Ferguson (NYSE:FERG) last announced its quarterly earnings data 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 period in the prior year, the company posted $2.50 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, research analysts predict that Ferguson plc will post 11.25 EPS for the current year.

Ferguson declared that its board has initiated a share 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts recently weighed in on FERG shares. Citigroup restated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. The Goldman Sachs Group cut Ferguson from a “buy” rating to a “neutral” rating and decreased their price target for the company from $315.00 to $265.00 in a research note on Monday, July 6th. Weiss Ratings raised Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Royal Bank Of Canada boosted their price target on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Finally, Zelman & Associates upgraded shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price objective on the stock in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $277.21.

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.