Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 3,000 Shares of Ferguson plc $FERG

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its holdings in Ferguson plc (NYSE:FERG) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,907 shares of the company’s stock after selling 3,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Ferguson were worth $12,224,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Basepoint Wealth LLC bought a new stake in Ferguson in the fourth quarter worth $26,000. Leonteq Securities AG bought a new stake in Ferguson in the fourth quarter worth $26,000. Central Pacific Bank Trust Division bought a new position in Ferguson during the fourth quarter valued at $27,000. Strategic Investment Solutions Inc. IL bought a new position in Ferguson during the third quarter valued at $28,000. Finally, Grove Bank & Trust increased its position in Ferguson by 154.4% during the fourth quarter. Grove Bank & Trust now owns 145 shares of the company’s stock valued at $32,000 after acquiring an additional 88 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on FERG shares. Oppenheimer boosted their price objective on shares of Ferguson from $255.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Citigroup reiterated a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Royal Bank Of Canada boosted their price objective on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Wells Fargo & Company boosted their price objective on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Barclays boosted their price objective on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $273.64.

Ferguson Stock Down 0.6%

Shares of FERG opened at $229.14 on Friday. The firm has a market capitalization of $44.44 billion, a P/E ratio of 26.64, a P/E/G ratio of 1.63 and a beta of 1.15. Ferguson plc has a 12-month low of $207.64 and a 12-month high of $271.64. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68. The firm has a fifty day moving average price of $241.02 and a 200-day moving average price of $241.33.

Ferguson (NYSE:FERG) last issued 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 firm 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 firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.50 earnings per share. Equities research analysts expect that Ferguson plc will post 11.26 earnings per share for the current year.

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, May 15th. Ferguson’s payout ratio is currently 41.40%.

Ferguson announced that its Board of Directors has initiated a share buyback plan on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Ferguson Company 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.