Madison Asset Management LLC Has $87.08 Million Stake in Ferguson plc $FERG

Madison Asset Management LLC decreased its position in Ferguson plc (NYSE:FERG) by 6.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 373,297 shares of the company’s stock after selling 23,994 shares during the quarter. Ferguson makes up approximately 1.1% of Madison Asset Management LLC’s portfolio, making the stock its 25th largest holding. Madison Asset Management LLC’s holdings in Ferguson were worth $87,075,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of FERG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 valued at $2,445,000 after acquiring an additional 2,940 shares during the period. Caxton Associates LLP bought a new position in shares of Ferguson in the first quarter worth about $310,000. Focus Partners Wealth increased its stake in shares of Ferguson by 22.7% in 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 during the period. Sivia Capital Partners LLC acquired a new position in shares of Ferguson during the 2nd quarter worth about $257,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Ferguson by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock worth $150,000 after purchasing an additional 48 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Trading Down 1.3%

Ferguson stock opened at $229.04 on Tuesday. The business has a 50 day moving average price of $230.04 and a two-hundred day moving average price of $240.41. 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 12 month low of $207.64 and a 12 month high of $271.64. The stock has a market cap of $44.42 billion, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 1.64 and a beta of 1.13.

Ferguson (NYSE:FERG) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.14. The company had revenue of $7.47 billion for the quarter. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.Ferguson’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.50 EPS. As a group, equities analysts forecast that Ferguson plc will post 11.27 EPS for the current year.

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

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Friday, May 15th were given 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 dividend payout ratio (DPR) is 41.40%.

Analysts Set New Price Targets

A number of analysts have issued reports on FERG shares. The Goldman Sachs Group lowered Ferguson from a “buy” rating to a “neutral” rating and lowered their target price for the company from $315.00 to $265.00 in a report on Monday, July 6th. Royal Bank Of Canada upped their price target on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Barclays increased their price objective on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings upgraded shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Finally, Zelman & Associates raised shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 target price on the stock in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $277.21.

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.