First Trust Advisors LP Has $87.46 Million Stock Position in Ferguson plc $FERG

First Trust Advisors LP cut its holdings in Ferguson plc (NYSE:FERG) by 12.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 374,941 shares of the company’s stock after selling 53,363 shares during the period. First Trust Advisors LP’s holdings in Ferguson were worth $87,459,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in FERG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Ferguson by 23.9% in the 1st 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 in the last quarter. Caxton Associates LLP bought a new position in Ferguson in the first quarter valued at approximately $310,000. Focus Partners Wealth raised its stake in shares of Ferguson by 22.7% during the 1st quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock worth $503,000 after purchasing an additional 581 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Ferguson in the 2nd quarter valued at approximately $257,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Ferguson by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock valued at $150,000 after buying an additional 48 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Up 0.7%

Shares of FERG opened at $230.36 on Friday. The firm has a market cap of $44.68 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 1.61 and a beta of 1.13. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78. Ferguson plc has a 52 week low of $207.64 and a 52 week high of $271.64. The firm’s 50-day simple moving average is $229.80 and its 200 day simple moving average is $240.45.

Ferguson (NYSE:FERG) last issued its quarterly earnings data 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. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The firm had revenue of $7.47 billion during the quarter. During the same quarter last year, the business earned $2.50 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. On average, analysts forecast that Ferguson plc will post 11.3 earnings per share for the current year.

Ferguson declared that its Board of Directors has approved a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Friday, May 15th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is presently 41.40%.

Analysts Set New Price Targets

FERG has been the topic of several analyst reports. Wells Fargo & Company upped their price target on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada upped their target price on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Weiss Ratings raised Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. The Goldman Sachs Group lowered Ferguson from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $315.00 to $265.00 in a research note on Monday, July 6th. Finally, Barclays raised 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. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.