Ferguson plc $FERG Shares Sold by Eminence Capital LP

Eminence Capital LP lowered its holdings in shares of Ferguson plc (NYSE:FERG) by 25.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 499,807 shares of the company’s stock after selling 173,777 shares during the period. Ferguson comprises 1.8% of Eminence Capital LP’s portfolio, making the stock its 27th largest holding. Eminence Capital LP owned approximately 0.26% of Ferguson worth $111,272,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Ferguson by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 19,418,334 shares of the company’s stock worth $4,323,104,000 after acquiring an additional 102,850 shares during the last quarter. State Street Corp raised its position in Ferguson by 1.8% during the fourth quarter. State Street Corp now owns 4,516,764 shares of the company’s stock worth $1,005,567,000 after acquiring an additional 79,296 shares during the last quarter. Franklin Resources Inc. raised its position in Ferguson by 0.6% during the fourth quarter. Franklin Resources Inc. now owns 4,393,603 shares of the company’s stock worth $977,959,000 after acquiring an additional 25,785 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Ferguson by 22.4% in the third quarter. Wellington Management Group LLP now owns 3,734,911 shares of the company’s stock valued at $838,786,000 after buying an additional 682,666 shares during the last quarter. Finally, Soroban Capital Partners LP raised its position in shares of Ferguson by 2.8% in the second quarter. Soroban Capital Partners LP now owns 3,705,056 shares of the company’s stock valued at $806,776,000 after buying an additional 100,559 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of FERG stock opened at $230.14 on Thursday. Ferguson plc has a one year low of $207.64 and a one year 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 company has a 50 day moving average price of $240.81 and a 200 day moving average price of $240.70. The firm has a market capitalization of $44.63 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 1.66 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, topping the consensus estimate of $2.14 by $0.14. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The firm had revenue of $7.47 billion during the quarter. During the same period last year, the company posted $2.50 EPS. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. Sell-side analysts anticipate that Ferguson plc will post 11.26 EPS for the current year.

Ferguson declared that its Board of Directors has approved 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 shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Ferguson Announces Dividend

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 Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Ferguson from $220.00 to $252.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Oppenheimer boosted their price objective on shares of Ferguson from $255.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. 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. Royal Bank Of Canada boosted their price objective on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $300.00 price objective on shares of Ferguson in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Ferguson currently has an average rating of “Moderate Buy” and a consensus target price of $277.58.

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.