Madison Asset Management LLC Sells 45,254 Shares of Ferguson plc $FERG

Madison Asset Management LLC lessened its holdings in shares of Ferguson plc (NYSE:FERG) by 10.2% during the 4th quarter, HoldingsChannel reports. The fund owned 397,291 shares of the company’s stock after selling 45,254 shares during the quarter. Madison Asset Management LLC’s holdings in Ferguson were worth $88,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Atria Investments Inc increased its position in Ferguson by 38.2% in the third quarter. Atria Investments Inc now owns 15,401 shares of the company’s stock worth $3,459,000 after buying an additional 4,259 shares in the last quarter. Rakuten Investment Management Inc. bought a new stake in Ferguson during the 3rd quarter worth approximately $1,002,000. Kinetic Partners Management LP raised its stake in Ferguson by 53.4% during the 3rd quarter. Kinetic Partners Management LP now owns 349,000 shares of the company’s stock worth $78,378,000 after acquiring an additional 121,500 shares during the period. C WorldWide Group Holding A S increased its stake in shares of Ferguson by 108.8% in the third quarter. C WorldWide Group Holding A S now owns 535,363 shares of the company’s stock worth $120,232,000 after purchasing an additional 278,971 shares in the last quarter. Finally, iA Global Asset Management Inc. purchased a new position in shares of Ferguson during the 3rd quarter valued at $1,252,000. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

NYSE FERG opened at $237.92 on Wednesday. The business’s 50 day moving average price is $242.34 and its 200-day moving average price is $244.06. Ferguson plc has a fifty-two week low of $174.99 and a fifty-two week high of $271.64. The company has a market cap of $46.14 billion, a P/E ratio of 26.98, a P/E/G ratio of 1.73 and a beta of 1.23. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88.

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

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is 40.36%.

Ferguson announced that its board has authorized a share buyback program 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 programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

FERG has been the topic of a number of recent analyst reports. Weiss Ratings cut Ferguson from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Royal Bank Of Canada raised their target price on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Citigroup reissued a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Truist Financial lifted their target price on Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Finally, Barclays lifted their price objective on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Ferguson currently has an average rating of “Moderate Buy” and a consensus price target of $269.73.

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.