38,739 Shares in Ferguson plc $FERG Acquired by SEB Asset Management AB

SEB Asset Management AB purchased a new stake in Ferguson plc (NYSE:FERG) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 38,739 shares of the company’s stock, valued at approximately $9,036,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Basepoint Wealth LLC acquired a new position in shares of Ferguson in the 4th quarter valued at $26,000. Leonteq Securities AG acquired a new stake in Ferguson during the 4th quarter worth $26,000. Central Pacific Bank Trust Division acquired a new stake in Ferguson during the 4th quarter worth $27,000. Zions Bancorporation National Association UT lifted its position in Ferguson by 123.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after acquiring an additional 79 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new stake in Ferguson in the third quarter valued at $34,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FERG. Weiss Ratings raised Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Citigroup reissued a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. The Goldman Sachs Group cut Ferguson from a “buy” rating to a “neutral” rating and decreased their target price for the company from $315.00 to $265.00 in a research report on Monday, July 6th. Zelman & Associates upgraded Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price target on the stock in a research note on Friday, July 17th. Finally, Barclays lifted their price target on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $277.21.

Ferguson Trading Down 1.2%

Shares of FERG stock opened at $226.28 on Wednesday. The business’s 50 day moving average is $229.80 and its two-hundred day moving average is $240.44. Ferguson plc has a twelve month low of $207.64 and a twelve month high of $271.64. The company has a market capitalization of $43.88 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 1.62 and a beta of 1.13. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68.

Ferguson (NYSE:FERG) last released its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm posted $2.50 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities analysts forecast that Ferguson plc will post 11.27 EPS for the current year.

Ferguson announced that its board has approved a stock buyback program on Tuesday, May 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Ferguson Dividend Announcement

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

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.