Capital Research Global Investors Has $386.04 Million Holdings in Ferguson plc $FERG

Capital Research Global Investors raised its stake in Ferguson plc (NYSE:FERG) by 0.7% in the 4th quarter, HoldingsChannel reports. The fund owned 1,733,986 shares of the company’s stock after buying an additional 12,822 shares during the quarter. Capital Research Global Investors’ holdings in Ferguson were worth $386,037,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC acquired a new stake in Ferguson in the 4th quarter valued at about $869,000. OneAscent Financial Services LLC acquired a new stake in Ferguson in the 4th quarter valued at about $216,000. Pinebridge Investments LLC acquired a new stake in Ferguson in the 4th quarter valued at about $708,000. OneAscent Family Office LLC acquired a new stake in Ferguson in the 4th quarter valued at about $204,000. Finally, PBU The Pension Fund of Early Childhood & Youth Educators acquired a new stake in Ferguson in the 4th quarter valued at about $6,576,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of NYSE:FERG opened at $229.14 on Monday. The stock has a market capitalization of $44.44 billion, a P/E ratio of 26.64, a P/E/G ratio of 1.63 and a beta of 1.15. Ferguson plc has a 1-year low of $207.64 and a 1-year high of $271.64. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $241.02 and a two-hundred day moving average price of $241.37.

Ferguson (NYSE:FERG) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.14. The company had revenue of $7.47 billion during the quarter. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The business’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company earned $2.50 earnings per share. Equities analysts predict that Ferguson plc will post 11.26 earnings per share for the current year.

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. Ferguson’s dividend payout ratio is 41.40%.

Ferguson announced that its Board of Directors has approved a share repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FERG. Citigroup reissued a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Weiss Ratings cut Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Royal Bank Of Canada boosted their price objective on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Wells Fargo & Company boosted their price objective on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Oppenheimer boosted their price objective on Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Ferguson currently has an average rating of “Moderate Buy” and an average target price of $273.64.

Ferguson Company 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.