SEB Asset Management AB Acquires New Stake in Ferguson plc $FERG

SEB Asset Management AB bought a new position in shares of Ferguson plc (NYSE:FERG) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 38,739 shares of the company’s stock, valued at approximately $9,036,000.

Several other institutional investors also recently bought and sold shares of FERG. Signaturefd LLC increased its stake in Ferguson by 1.1% during the fourth quarter. Signaturefd LLC now owns 3,979 shares of the company’s stock worth $886,000 after purchasing an additional 44 shares during the period. Simplicity Wealth LLC boosted its stake in shares of Ferguson by 1.6% in the fourth quarter. Simplicity Wealth LLC now owns 3,132 shares of the company’s stock valued at $697,000 after purchasing an additional 48 shares during the period. Sivia Capital Partners LLC grew its holdings in shares of Ferguson by 2.9% in the fourth quarter. Sivia Capital Partners LLC now owns 1,685 shares of the company’s stock valued at $375,000 after purchasing an additional 48 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Ferguson by 7.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock valued at $150,000 after purchasing an additional 48 shares in the last quarter. Finally, REAP Financial Group LLC increased its stake in Ferguson by 13.4% during the 4th quarter. REAP Financial Group LLC now owns 431 shares of the company’s stock worth $96,000 after buying an additional 51 shares during the period. 81.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FERG has been the topic of a number of research reports. The Goldman Sachs Group lowered shares of Ferguson from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $315.00 to $265.00 in a report on Monday, July 6th. 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. Citigroup reiterated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Wells Fargo & Company boosted their target price on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Barclays upped their price target on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $277.21.

Ferguson Trading Down 1.2%

NYSE FERG opened at $226.28 on Wednesday. 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 52 week low of $207.64 and a 52 week high of $271.64. The stock has a market capitalization of $43.88 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 1.62 and a beta of 1.13. The firm has a 50 day moving average of $229.80 and a two-hundred day moving average of $240.44.

Ferguson (NYSE:FERG) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Ferguson’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.50 earnings per share. As a group, research analysts expect that Ferguson plc will post 11.27 EPS for the current fiscal year.

Ferguson Announces Dividend

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

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

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.