Livforsakringsbolaget Skandia Omsesidigt Lowers Stake in Ferguson plc $FERG

Livforsakringsbolaget Skandia Omsesidigt lowered its holdings in shares of Ferguson plc (NYSE:FERG) by 68.0% during the 1st quarter, HoldingsChannel reports. The fund owned 3,100 shares of the company’s stock after selling 6,576 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Ferguson were worth $724,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FERG. Basepoint Wealth LLC bought a new position in shares of Ferguson during the fourth quarter valued at approximately $26,000. Leonteq Securities AG bought a new stake in shares of Ferguson in the 4th quarter worth approximately $26,000. Central Pacific Bank Trust Division purchased a new stake in shares of Ferguson in the 4th quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Ferguson in the 3rd quarter worth approximately $28,000. Finally, Zions Bancorporation National Association UT increased its position in Ferguson by 123.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after buying an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

FERG stock opened at $230.30 on Thursday. The stock has a market capitalization of $44.66 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 1.66 and a beta of 1.13. Ferguson plc has a 12-month low of $207.64 and a 12-month 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 stock’s 50 day simple moving average is $230.80 and its 200 day simple moving average is $240.32.

Ferguson (NYSE:FERG) last issued its earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.14 by $0.14. The business 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%.The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.50 earnings per share. As a group, research analysts forecast that Ferguson plc will post 11.27 earnings per share for the current fiscal year.

Ferguson declared that its Board of Directors has authorized a share buyback program on Tuesday, May 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Ferguson Dividend Announcement

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

Wall Street Analyst Weigh In

FERG has been the subject of a number of recent research reports. The Goldman Sachs Group cut Ferguson from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $315.00 to $265.00 in a research note on Monday, July 6th. Royal Bank Of Canada raised their price target on 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. 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 note on Wednesday, May 6th. Finally, Citigroup reissued a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $276.61.

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.