Nissay Asset Management Corp Japan Has $6.42 Million Stock Holdings in Ferguson plc $FERG

Nissay Asset Management Corp Japan trimmed its holdings in Ferguson plc (NYSE:FERG) by 9.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,033 shares of the company’s stock after selling 2,872 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in Ferguson were worth $6,416,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC raised its stake in shares of Ferguson by 81.4% in the second quarter. Hsbc Holdings PLC now owns 427,091 shares of the company’s stock worth $101,419,000 after acquiring an additional 191,609 shares during the last quarter. Man Group plc lifted its holdings in Ferguson by 613.8% during the 2nd quarter. Man Group plc now owns 401,395 shares of the company’s stock worth $95,263,000 after buying an additional 345,165 shares in the last quarter. Jupiter Topco LLC acquired a new position in Ferguson during the 2nd quarter worth $1,789,368,000. PDT Partners LLC acquired a new stake in shares of Ferguson in the 2nd quarter valued at $2,397,000. Finally, Jones Financial Companies Lllp raised its position in shares of Ferguson by 13.2% during the second quarter. Jones Financial Companies Lllp now owns 96,108 shares of the company’s stock worth $22,932,000 after acquiring an additional 11,196 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Up 0.0%

Shares of Ferguson stock opened at $228.52 on Monday. The company has a market capitalization of $44.21 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 1.59 and a beta of 1.14. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 0.93. The business has a 50-day moving average of $236.93 and a two-hundred day moving average of $239.47. Ferguson plc has a 1 year low of $207.64 and a 1 year high of $271.64.

Ferguson (NYSE:FERG) last released its quarterly earnings data on Monday, August 10th. The company reported $3.39 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.16. Ferguson had a return on equity of 37.24% and a net margin of 6.82%.The business had revenue of $8.75 billion for the quarter. As a group, equities analysts predict that Ferguson plc will post 11.42 EPS for the current year.

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

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Friday, August 21st will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, August 21st. Ferguson’s dividend payout ratio (DPR) is 41.83%.

Analyst Upgrades and Downgrades

FERG has been the subject of a number of research reports. Robert W. Baird lifted their price objective on Ferguson from $285.00 to $288.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Barclays raised their price objective on shares of Ferguson from $297.00 to $313.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Zelman & Associates upgraded shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 target price for the company in a research report on Friday, July 17th. Weiss Ratings upgraded Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Finally, Wells Fargo & Company upped their price objective on Ferguson from $285.00 to $295.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $285.93.

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.