Fideuram Intesa Sanpaolo Private Banking S.P.A. Buys New Position in Ferguson plc $FERG

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Ferguson plc (NYSE:FERG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,337 shares of the company’s stock, valued at approximately $1,856,000.

Several other institutional investors have also added to or reduced their stakes in FERG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Ferguson by 23.9% in 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 last quarter. Caxton Associates LLP bought a new stake in Ferguson in the first quarter valued at approximately $310,000. Focus Partners Wealth boosted its holdings in Ferguson by 22.7% in the first quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock valued at $503,000 after acquiring an additional 581 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Ferguson in the second quarter valued at approximately $257,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings 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 buying an additional 48 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors.

Ferguson Price Performance

Shares of FERG opened at $223.37 on Friday. Ferguson plc has a 12-month low of $176.26 and a 12-month high of $271.64. The business’s fifty day moving average is $240.13 and its 200 day moving average is $242.81. The company has a quick ratio of 1.01, a current ratio of 1.88 and a debt-to-equity ratio of 0.68. The stock has a market cap of $43.32 billion, a P/E ratio of 25.97, a P/E/G ratio of 1.58 and a beta of 1.23.

Ferguson (NYSE:FERG) last issued its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. Ferguson had a return on equity of 38.92% and a net margin of 6.98%.The company had revenue of $7.47 billion for the quarter. During the same quarter in the prior year, the business earned $2.50 earnings per share. Ferguson’s revenue for the quarter was up 3.6% on a year-over-year basis. Sell-side analysts anticipate that Ferguson plc will post 11.25 earnings per share for the current fiscal year.

Ferguson declared that its Board of Directors has initiated a share repurchase program on Tuesday, May 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Investors 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 1.6%. The ex-dividend date is Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is currently 41.40%.

Analyst Upgrades and Downgrades

FERG has been the topic of a number of research analyst reports. Royal Bank Of Canada increased 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. UBS Group increased their price target on Ferguson from $220.00 to $252.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Barclays increased their price target on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Wells Fargo & Company increased their price target on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Citigroup restated a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Ferguson has a consensus rating of “Moderate Buy” and an average price target of $269.73.

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.