Ferguson plc $FERG Shares Sold by Evelyn Partners Investment Management LLP

Evelyn Partners Investment Management LLP trimmed its holdings in shares of Ferguson plc (NYSE:FERG) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,593 shares of the company’s stock after selling 3,000 shares during the period. Evelyn Partners Investment Management LLP’s holdings in Ferguson were worth $11,041,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Atria Investments Inc increased its holdings in shares of Ferguson by 38.2% during the 3rd quarter. Atria Investments Inc now owns 15,401 shares of the company’s stock valued at $3,459,000 after purchasing an additional 4,259 shares in the last quarter. Kinetic Partners Management LP increased its holdings in shares of Ferguson by 53.4% during the 3rd quarter. Kinetic Partners Management LP now owns 349,000 shares of the company’s stock valued at $78,378,000 after purchasing an additional 121,500 shares in the last quarter. Cibc World Market Inc. increased its holdings in shares of Ferguson by 79.6% during the 3rd quarter. Cibc World Market Inc. now owns 12,328 shares of the company’s stock valued at $2,769,000 after purchasing an additional 5,463 shares in the last quarter. Marsico Capital Management LLC purchased a new position in shares of Ferguson during the 4th quarter valued at approximately $11,017,000. Finally, Clifford Swan Investment Counsel LLC increased its holdings in shares of Ferguson by 3.0% during the 3rd quarter. Clifford Swan Investment Counsel LLC now owns 74,900 shares of the company’s stock valued at $16,821,000 after purchasing an additional 2,208 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on FERG. Oppenheimer lifted their target price on shares of Ferguson from $255.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Wells Fargo & Company lifted their target price on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. UBS Group boosted their price target on shares of Ferguson from $220.00 to $252.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Jefferies Financial Group restated a “buy” rating and set a $300.00 price objective on shares of Ferguson in a research report on Tuesday, February 24th. Finally, Truist Financial upped their price objective on shares of Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $277.77.

Ferguson Stock Performance

NYSE:FERG opened at $230.13 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78. The company has a fifty day moving average of $240.99 and a two-hundred day moving average of $241.08. The stock has a market capitalization of $44.63 billion, a PE ratio of 26.76, a P/E/G ratio of 1.63 and a beta of 1.15. Ferguson plc has a fifty-two week low of $207.64 and a fifty-two week high of $271.64.

Ferguson (NYSE:FERG) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates 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 38.81%. The business’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.50 earnings per share. As a group, research analysts forecast that Ferguson plc will post 11.26 earnings per share for the current fiscal year.

Ferguson announced that its board has initiated a share buyback program on Tuesday, May 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are usually a sign 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 given a dividend of $0.89 per share. The ex-dividend date 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 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.