Swiss Life Asset Management Ltd Sells 4,779 Shares of Ferguson plc $FERG

Swiss Life Asset Management Ltd lowered its stake in shares of Ferguson plc (NYSE:FERG) by 5.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,390 shares of the company’s stock after selling 4,779 shares during the period. Swiss Life Asset Management Ltd’s holdings in Ferguson were worth $17,229,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Signaturefd LLC raised its stake in shares of Ferguson by 1.1% during the 4th quarter. Signaturefd LLC now owns 3,979 shares of the company’s stock worth $886,000 after purchasing an additional 44 shares in the last quarter. Simplicity Wealth LLC raised its stake in shares of Ferguson by 1.6% during the 4th quarter. Simplicity Wealth LLC now owns 3,132 shares of the company’s stock worth $697,000 after purchasing an additional 48 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Ferguson by 7.5% during 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. Founders Grove Wealth Partners LLC raised its stake in shares of Ferguson by 4.2% during the 4th quarter. Founders Grove Wealth Partners LLC now owns 1,353 shares of the company’s stock worth $301,000 after purchasing an additional 55 shares in the last quarter. Finally, Triad Wealth Partners LLC raised its stake in shares of Ferguson by 4.7% during the 4th quarter. Triad Wealth Partners LLC now owns 1,219 shares of the company’s stock worth $271,000 after purchasing an additional 55 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Up 1.2%

FERG stock opened at $244.26 on Tuesday. The company has a current ratio of 1.88, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $47.37 billion, a PE ratio of 27.69, a PEG ratio of 1.71 and a beta of 1.23. Ferguson plc has a 1-year low of $173.53 and a 1-year high of $271.64. The business’s 50 day simple moving average is $242.79 and its 200 day simple moving average is $244.08.

Ferguson (NYSE:FERG) last posted its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. The business had revenue of $7.47 billion for the quarter. Ferguson had a return on equity of 38.92% and a net margin of 6.98%.The firm’s revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.50 earnings per share. As a group, research analysts anticipate that Ferguson plc will post 11.23 EPS for the current year.

Ferguson declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th will be issued 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 1.5%. Ferguson’s payout ratio is presently 40.36%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FERG shares. Barclays upped their price objective on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research note on Friday. Oppenheimer upped their price objective on Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Royal Bank Of Canada boosted their target price on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. 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. Finally, Citigroup reissued a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $269.73.

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.