Ferguson plc $FERG Position Lowered by Egerton Capital UK LLP

by · The Markets Daily

Egerton Capital UK LLP trimmed its position in Ferguson plc (NYSE:FERG – Free Report) by 61.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,008,314 shares of the company’s stock after selling 1,591,910 shares during the quarter. Ferguson makes up approximately 2.4% of Egerton Capital UK LLP’s holdings, making the stock its 16th largest position. Egerton Capital UK LLP’s holdings in Ferguson were worth $224,481,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of FERG. Norges Bank bought a new position in Ferguson in the fourth quarter worth about $498,005,000. Durable Capital Partners LP acquired a new stake in shares of Ferguson during the 3rd quarter worth approximately $244,561,000. Qube Research & Technologies Ltd lifted its holdings in shares of Ferguson by 588.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,087,523 shares of the company’s stock worth $244,236,000 after purchasing an additional 929,475 shares during the last quarter. Wellington Management Group LLP boosted its position in Ferguson by 22.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,734,911 shares of the company’s stock valued at $838,786,000 after purchasing an additional 682,666 shares during the period. Finally, 59 North Capital Management LP grew its stake in Ferguson by 114.7% during the 3rd quarter. 59 North Capital Management LP now owns 1,255,137 shares of the company’s stock worth $281,879,000 after buying an additional 670,473 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of FERG stock opened at $229.14 on Monday. Ferguson plc has a 12-month low of $207.64 and a 12-month high of $271.64. The firm has a market capitalization of $44.44 billion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15. The business has a 50 day simple moving average of $241.02 and a 200 day simple moving average of $241.37. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96.

Ferguson (NYSE:FERG – Get Free Report) last issued its quarterly earnings data 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 38.81% and a net margin of 6.98%.The business had revenue of $7.47 billion during the quarter. During the same period last year, the company earned $2.50 earnings per share. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that Ferguson plc will post 11.26 EPS for the current year.

Ferguson Announces Dividend

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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on FERG shares. Truist Financial raised their target price on Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Royal Bank Of Canada boosted their target price on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Wells Fargo & Company raised their price target on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Barclays boosted their price objective on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, Weiss Ratings lowered Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Ferguson has an average rating of “Moderate Buy” and a consensus price target of $273.64.

Check Out Our Latest Report on Ferguson

Ferguson Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding FERG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferguson plc (NYSE:FERG – Free Report).