Ferguson plc $FERG Stock Position Cut by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA decreased its stake in shares of Ferguson plc (NYSE:FERG) by 95.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 395 shares of the company’s stock after selling 7,530 shares during the period. Union Bancaire Privee UBP SA’s holdings in Ferguson were worth $92,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FERG. 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 buying an additional 522,610 shares during the period. Kinetic Partners Management LP increased its holdings in shares of Ferguson by 53.4% in the third quarter. Kinetic Partners Management LP now owns 349,000 shares of the company’s stock valued at $78,378,000 after buying an additional 121,500 shares in the last quarter. Marsico Capital Management LLC bought a new position in shares of Ferguson in the fourth quarter valued at $11,017,000. Fieldview Capital Management LLC acquired a new stake in shares of Ferguson during the 3rd quarter valued at $3,258,000. Finally, Swiss Life Asset Management Ltd lifted its position in shares of Ferguson by 68.0% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 82,169 shares of the company’s stock valued at $18,454,000 after acquiring an additional 33,245 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FERG. Weiss Ratings lowered Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. Royal Bank Of Canada boosted their target price on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Barclays lifted their price target on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Wells Fargo & Company boosted their price objective on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.58.

Ferguson Price Performance

NYSE FERG opened at $238.08 on Monday. The company has a 50 day simple moving average of $238.71 and a 200-day simple moving average of $240.10. The firm has a market capitalization of $46.17 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. 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 current ratio of 1.78 and a quick ratio of 0.96.

Ferguson (NYSE:FERG) last posted 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. The business 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.50 earnings per share. Equities research analysts predict that Ferguson plc will post 11.26 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be paid a $0.89 dividend. The ex-dividend date is Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. Ferguson’s payout ratio is 41.40%.

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

About Ferguson

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.