Ferguson plc (NASDAQ:FERG) Shares Sold by Tredje AP fonden

Tredje AP fonden trimmed its holdings in Ferguson plc (NASDAQ:FERG) by 1.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,641 shares of the company’s stock after selling 325 shares during the period. Tredje AP fonden’s holdings in Ferguson were worth $3,997,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FERG. BayBridge Capital Group LLC raised its stake in Ferguson by 2.0% during the first quarter. BayBridge Capital Group LLC now owns 2,373 shares of the company’s stock valued at $494,000 after buying an additional 47 shares in the last quarter. Verdence Capital Advisors LLC raised its position in shares of Ferguson by 3.0% during the 1st quarter. Verdence Capital Advisors LLC now owns 1,663 shares of the company’s stock valued at $363,000 after acquiring an additional 48 shares in the last quarter. OneAscent Financial Services LLC lifted its stake in Ferguson by 1.9% during the first quarter. OneAscent Financial Services LLC now owns 2,584 shares of the company’s stock worth $565,000 after purchasing an additional 49 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in Ferguson by 3.6% in the first quarter. Perigon Wealth Management LLC now owns 1,568 shares of the company’s stock worth $342,000 after purchasing an additional 55 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its holdings in Ferguson by 1.8% in the first quarter. Oppenheimer & Co. Inc. now owns 3,142 shares of the company’s stock worth $686,000 after purchasing an additional 57 shares during the period. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FERG. UBS Group raised their price target on shares of Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays lifted their target price on Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday. Royal Bank of Canada increased their price target on Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wells Fargo & Company reduced their price objective on Ferguson from $250.00 to $225.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Robert W. Baird upped their price objective on Ferguson from $222.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $231.57.

Ferguson Trading Down 0.7 %

NASDAQ:FERG opened at $205.52 on Thursday. Ferguson plc has a 1 year low of $147.62 and a 1 year high of $225.63. The business has a fifty day moving average of $204.35 and a 200-day moving average of $206.95. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68. The stock has a market cap of $41.50 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 6.13 and a beta of 1.21.

Ferguson (NASDAQ:FERG) last released its earnings results on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, beating the consensus estimate of $2.86 by $0.12. Ferguson had a net margin of 6.33% and a return on equity of 36.89%. The firm had revenue of $7.95 billion for the quarter, compared to analysts’ expectations of $8.01 billion. During the same quarter last year, the company earned $2.77 EPS. Ferguson’s quarterly revenue was up 1.4% on a year-over-year basis. Equities analysts predict that Ferguson plc will post 9.63 earnings per share for the current year.

Ferguson announced that its board has authorized a share repurchase program on Tuesday, June 4th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a dividend of $0.79 per share. The ex-dividend date is Friday, September 27th. This represents a $3.16 annualized dividend and a yield of 1.54%. Ferguson’s payout ratio is 34.54%.

About Ferguson

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.