Mediolanum International Funds Ltd Acquires Shares of 6,765 Ferguson plc $FERG

Mediolanum International Funds Ltd bought a new position in Ferguson plc (NYSE:FERG) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,765 shares of the company’s stock, valued at approximately $1,513,000.

Several other institutional investors have also made changes to their positions in the company. Raiffeisen Bank International AG lifted its holdings in shares of Ferguson by 350,745.0% in the fourth quarter. Raiffeisen Bank International AG now owns 522,759 shares of the company’s stock valued at $116,382,000 after purchasing an additional 522,610 shares in the last quarter. Marsico Capital Management LLC purchased a new position in shares of Ferguson during the fourth quarter valued at $11,017,000. Lmcg Investments LLC acquired a new position in Ferguson during the first quarter valued at $1,806,000. V Square Quantitative Management LLC acquired a new position in Ferguson during the fourth quarter valued at $891,000. Finally, D.A. Davidson & CO. lifted its stake in Ferguson by 89.6% in the 4th quarter. D.A. Davidson & CO. now owns 30,983 shares of the company’s stock worth $6,898,000 after acquiring an additional 14,644 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Stock Performance

Shares of FERG opened at $226.28 on Wednesday. The firm has a market cap of $43.88 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 1.62 and a beta of 1.13. The company’s fifty day moving average is $229.80 and its 200-day moving average is $240.44. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68. Ferguson plc has a 12 month low of $207.64 and a 12 month high of $271.64.

Ferguson (NYSE:FERG) last released its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.14. The business 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% on a year-over-year basis. During the same period in the previous year, the firm posted $2.50 EPS. Equities analysts expect that Ferguson plc will post 11.27 EPS for the current fiscal year.

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is 41.40%.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Zelman & Associates upgraded Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price objective for the company in a research report on Friday, July 17th. Weiss Ratings upgraded Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Citigroup reissued a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Barclays raised their price target on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.21.

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.