Quantinno Capital Management LP Sells 4,193 Shares of Ferguson plc $FERG

Quantinno Capital Management LP trimmed its position in Ferguson plc (NYSE:FERG) by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,994 shares of the company’s stock after selling 4,193 shares during the quarter. Quantinno Capital Management LP’s holdings in Ferguson were worth $27,757,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in Ferguson by 150.8% during the fourth quarter. Wellington Management Group LLP now owns 9,366,465 shares of the company’s stock worth $2,085,256,000 after buying an additional 5,631,554 shares in the last quarter. Norges Bank acquired a new position in shares of Ferguson in the 4th quarter valued at $498,005,000. Durable Capital Partners LP acquired a new position in shares of Ferguson in the 3rd quarter valued at $244,561,000. Qube Research & Technologies Ltd lifted its holdings in shares of Ferguson by 588.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,087,523 shares of the company’s stock worth $244,236,000 after acquiring an additional 929,475 shares during the period. Finally, Voloridge Investment Management LLC lifted its holdings in shares of Ferguson by 502.8% during the 3rd quarter. Voloridge Investment Management LLC now owns 765,725 shares of the company’s stock worth $171,967,000 after acquiring an additional 638,692 shares during the period. 81.98% of the stock is owned by institutional investors.

Ferguson Stock Performance

NYSE FERG opened at $234.49 on Friday. The firm has a market cap of $45.48 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 1.60 and a beta of 1.13. The company has a 50 day moving average of $230.62 and a 200-day moving average of $240.52. 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 1-year low of $207.64 and a 1-year high of $271.64.

Ferguson (NYSE:FERG) last posted 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 business’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.50 EPS. On average, equities analysts forecast that Ferguson plc will post 11.25 earnings per share for the current fiscal year.

Ferguson declared that its Board of Directors has initiated a stock buyback plan on Tuesday, May 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FERG. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. The Goldman Sachs Group cut Ferguson from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $315.00 to $265.00 in a report on Monday, July 6th. Barclays raised 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 Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Finally, Royal Bank Of Canada increased their price objective on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Ferguson has a consensus rating of “Moderate Buy” and a consensus target price of $277.21.

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.