Ferguson plc $FERG Shares Sold by Atreides Management LP

Atreides Management LP lessened its holdings in shares of Ferguson plc (NYSE:FERG) by 20.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 177,917 shares of the company’s stock after selling 44,707 shares during the period. Atreides Management LP owned approximately 0.09% of Ferguson worth $39,610,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FERG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Ferguson by 23.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock worth $2,445,000 after acquiring an additional 2,940 shares during the period. Caxton Associates LLP purchased a new stake in Ferguson during the first quarter worth $310,000. Focus Partners Wealth boosted its position in Ferguson by 22.7% during the first quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock worth $503,000 after purchasing an additional 581 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Ferguson during the second quarter worth $257,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Ferguson by 7.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock worth $150,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Down 2.0%

Shares of NYSE:FERG opened at $230.14 on Thursday. 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’s fifty day simple moving average is $240.81 and its 200-day simple moving average is $240.70. The company has a market capitalization of $44.63 billion, a P/E ratio of 26.76, a P/E/G ratio of 1.66 and a beta of 1.15.

Ferguson (NYSE:FERG) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share (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 business had revenue of $7.47 billion for the quarter. During the same quarter in the prior year, the company earned $2.50 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. As a group, equities research analysts forecast that Ferguson plc will post 11.26 earnings per share for the current fiscal year.

Ferguson announced that its Board of Directors has initiated a stock buyback plan on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Ferguson Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Jefferies Financial Group reiterated a “buy” rating and set a $300.00 target price on shares of Ferguson in a research report on Tuesday, February 24th. Barclays boosted their target price on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Citigroup reiterated a “neutral” rating on shares of Ferguson in a research report 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 report on Wednesday, May 6th. Finally, Weiss Ratings downgraded Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $277.58.

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.