Magnetar Financial LLC Sells 6,758 Shares of Ferguson plc $FERG

Magnetar Financial LLC reduced its holdings in Ferguson plc (NYSE:FERG) by 24.0% in the 4th quarter, Holdings Channel reports. The fund owned 21,367 shares of the company’s stock after selling 6,758 shares during the quarter. Magnetar Financial LLC’s holdings in Ferguson were worth $4,757,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Raiffeisen Bank International AG boosted its position in shares of Ferguson by 350,745.0% during the fourth quarter. Raiffeisen Bank International AG now owns 522,759 shares of the company’s stock worth $116,382,000 after buying an additional 522,610 shares during the period. Kinetic Partners Management LP boosted its position in shares of Ferguson by 53.4% during the third quarter. Kinetic Partners Management LP now owns 349,000 shares of the company’s stock worth $78,378,000 after buying an additional 121,500 shares during the period. Marsico Capital Management LLC acquired a new position in shares of Ferguson during the fourth quarter worth about $11,017,000. Clifford Swan Investment Counsel LLC boosted its position in shares of Ferguson by 3.0% during the third quarter. Clifford Swan Investment Counsel LLC now owns 74,900 shares of the company’s stock worth $16,821,000 after buying an additional 2,208 shares during the period. Finally, Fieldview Capital Management LLC acquired a new position in shares of Ferguson during the third quarter worth about $3,258,000. 81.98% of the stock is currently owned by institutional investors.

Ferguson Stock Performance

Shares of NYSE FERG opened at $234.94 on Wednesday. The stock has a 50 day moving average price of $240.99 and a 200 day moving average price of $240.86. Ferguson plc has a 52 week low of $207.64 and a 52 week high of $271.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78. The stock has a market capitalization of $45.56 billion, a PE ratio of 27.32, a price-to-earnings-growth ratio of 1.67 and a beta of 1.15.

Ferguson (NYSE:FERG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.14 by $0.14. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The firm had revenue of $7.47 billion during the quarter. During the same period last year, the company posted $2.50 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. Analysts predict that Ferguson plc will post 11.26 earnings per share for the current fiscal year.

Ferguson declared that its Board of Directors has approved a stock repurchase 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 usually a sign that the company’s board believes its stock is undervalued.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors 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 yield of 1.5%. Ferguson’s dividend payout ratio is 41.40%.

Analyst Ratings Changes

Several research firms have recently weighed in on FERG. Wells Fargo & Company upped their price objective on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Oppenheimer upped their price objective on Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Barclays upped their price objective on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada upped their price objective on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Ferguson currently has an average rating of “Moderate Buy” and a consensus target price of $277.77.

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.