Mirabaud Asset Management Ltd Has $1.27 Million Stake in Ferguson plc $FERG

Mirabaud Asset Management Ltd trimmed its stake in Ferguson plc (NYSE:FERG) by 42.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,696 shares of the company’s stock after selling 4,140 shares during the period. Mirabaud Asset Management Ltd’s holdings in Ferguson were worth $1,268,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Central Pacific Bank Trust Division acquired a new position in shares of Ferguson in the 4th quarter valued at $27,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Ferguson in the 3rd quarter valued at $28,000. Cornerstone Planning Group LLC raised its stake in shares of Ferguson by 178.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock valued at $31,000 after buying an additional 82 shares in the last quarter. Grove Bank & Trust raised its stake in shares of Ferguson by 154.4% in the 4th quarter. Grove Bank & Trust now owns 145 shares of the company’s stock valued at $32,000 after buying an additional 88 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in shares of Ferguson in the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Trending Headlines about Ferguson

Here are the key news stories impacting Ferguson this week:

• Neutral Sentiment: Several entertainment stories allege that Sarah Ferguson had a past relationship with Sean “Diddy” Combs, but these reports are unrelated to Ferguson plc’s business and are unlikely to be a direct stock catalyst.
• Neutral Sentiment: Additional articles repeat the same royal-biography claims and author comments, creating more news flow around the “Ferguson” name without tying back to the company’s fundamentals.
• Neutral Sentiment: Political and ethics headlines involving officials named Ferguson also appear in the news feed, but they do not relate to Ferguson plc and should have limited direct impact on the stock.

Ferguson Stock Up 0.1%

FERG opened at $241.47 on Monday. The firm’s 50-day simple moving average is $243.59 and its 200-day simple moving average is $244.09. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88. Ferguson plc has a twelve month low of $170.23 and a twelve month high of $271.64. The firm has a market cap of $46.83 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 1.71 and a beta of 1.23.

Ferguson (NYSE:FERG) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. Ferguson had a net margin of 6.98% and a return on equity of 38.92%. The firm had revenue of $7.47 billion for the quarter. During the same period in the prior year, the company earned $2.50 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. Equities research analysts anticipate that Ferguson plc will post 11.23 EPS for the current fiscal year.

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

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. Ferguson’s dividend payout ratio is currently 40.36%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FERG. Wells Fargo & Company increased their price objective on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Barclays increased their price objective on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group upped their target price on shares of Ferguson from $220.00 to $252.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Weiss Ratings lowered shares of Ferguson from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Finally, Oppenheimer upped their target price on shares of Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $269.73.

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.