Generali Asset Management SPA SGR Sells 3,066 Shares of Ferguson plc $FERG

Generali Asset Management SPA SGR decreased its stake in shares of Ferguson plc (NYSE:FERG) by 9.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 28,972 shares of the company’s stock after selling 3,066 shares during the period. Generali Asset Management SPA SGR’s holdings in Ferguson were worth $6,450,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Central Pacific Bank Trust Division bought a new position in shares of Ferguson in the fourth quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Ferguson during the 3rd quarter worth approximately $28,000. Cornerstone Planning Group LLC increased its holdings in Ferguson by 178.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock worth $31,000 after acquiring an additional 82 shares during the period. Grove Bank & Trust lifted its stake in Ferguson by 154.4% in the 4th quarter. Grove Bank & Trust now owns 145 shares of the company’s stock worth $32,000 after purchasing an additional 88 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new position in Ferguson in the 3rd quarter valued at $34,000. Institutional investors own 81.98% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on FERG shares. UBS Group boosted their price target on shares of Ferguson from $220.00 to $252.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Wells Fargo & Company lifted their price objective on Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday. 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. Oppenheimer upped their target price on Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.73.

Ferguson Stock Performance

Ferguson stock opened at $241.47 on Friday. Ferguson plc has a fifty-two week low of $170.23 and a fifty-two week high of $271.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88. The stock has a market cap of $46.83 billion, a P/E ratio of 27.38, a price-to-earnings-growth ratio of 1.75 and a beta of 1.23. The firm’s fifty day moving average price is $243.59 and its 200-day moving average price is $244.09.

Ferguson (NYSE:FERG) last announced its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.14. The company had revenue of $7.47 billion during the quarter. Ferguson had a net margin of 6.98% and a return on equity of 38.92%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.50 earnings per share. On average, equities research analysts expect that Ferguson plc will post 11.23 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

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

Ferguson announced that its board has authorized a share 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 generally a sign that the company’s board of directors believes its stock is undervalued.

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.