Ferguson plc $FERG Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its holdings in shares of Ferguson plc (NYSE:FERG) by 9.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 2,868,181 shares of the company’s stock after acquiring an additional 240,666 shares during the quarter. Ferguson accounts for about 0.7% of Pictet Asset Management Holding SA’s investment portfolio, making the stock its 25th largest holding. Pictet Asset Management Holding SA’s holdings in Ferguson were worth $668,809,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FERG. Vanguard Group Inc. raised its stake in shares of Ferguson by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 19,418,334 shares of the company’s stock valued at $4,323,104,000 after acquiring an additional 102,850 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Ferguson by 150.8% during the 4th quarter. Wellington Management Group LLP now owns 9,366,465 shares of the company’s stock valued at $2,085,256,000 after acquiring an additional 5,631,554 shares in the last quarter. Janus Henderson Group PLC boosted its position in Ferguson by 7.8% during the 4th quarter. Janus Henderson Group PLC now owns 5,981,791 shares of the company’s stock worth $1,331,621,000 after purchasing an additional 434,650 shares during the period. State Street Corp boosted its position in Ferguson by 1.8% during the 4th quarter. State Street Corp now owns 4,516,764 shares of the company’s stock worth $1,005,567,000 after purchasing an additional 79,296 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Ferguson by 0.6% in the 4th quarter. Franklin Resources Inc. now owns 4,393,603 shares of the company’s stock valued at $977,959,000 after purchasing an additional 25,785 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on FERG. Barclays boosted their price objective on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Weiss Ratings downgraded Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Citigroup reissued a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Royal Bank Of Canada upped their price target on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Finally, Wells Fargo & Company upped their target price on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Ferguson currently has an average rating of “Moderate Buy” and an average price target of $277.58.

Ferguson Stock Down 1.1%

FERG stock opened at $238.08 on Friday. 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 50 day simple moving average of $238.71 and a 200-day simple moving average of $240.14. The company has a market capitalization of $46.17 billion, a P/E ratio of 27.68, a PEG ratio of 1.69 and a beta of 1.15. Ferguson plc has a twelve month low of $207.64 and a twelve month high of $271.64.

Ferguson (NYSE:FERG) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.14. The firm had revenue of $7.47 billion for the quarter. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.50 earnings per share. On average, equities research analysts predict that Ferguson plc will post 11.26 earnings per share for the current fiscal year.

Ferguson announced that its Board of Directors has initiated a stock buyback plan on Tuesday, May 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. Ferguson’s dividend payout ratio (DPR) is presently 41.40%.

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.