15,793 Shares in Ferguson plc $FERG Bought by Fideuram Asset Management Ireland dac

Key Points

• Fideuram Asset Management Ireland dac opened a new position in Ferguson plc, buying 15,793 shares valued at about $3.85 million in the fourth quarter.
• Ferguson reported better-than-expected quarterly earnings, posting $2.28 EPS versus the $2.14 consensus, with revenue of $7.47 billion, up 3.6% year over year.
• The company’s board approved a $2 billion share repurchase program and also declared a quarterly dividend of $0.89 per share, equal to a 1.6% annualized yield.

Fideuram Asset Management Ireland dac purchased a new position in shares of Ferguson plc (NYSE:FERG - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,793 shares of the company's stock, valued at approximately $3,846,000.

Several other institutional investors have also bought and sold shares of the stock. Signaturefd LLC grew its holdings in Ferguson by 1.1% during the fourth quarter. Signaturefd LLC now owns 3,979 shares of the company's stock worth $886,000 after buying an additional 44 shares in the last quarter. Simplicity Wealth LLC grew its holdings in Ferguson by 1.6% during the fourth quarter. Simplicity Wealth LLC now owns 3,132 shares of the company's stock worth $697,000 after buying an additional 48 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Ferguson by 7.5% during the second 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. Founders Grove Wealth Partners LLC grew its holdings in Ferguson by 4.2% during the fourth quarter. Founders Grove Wealth Partners LLC now owns 1,353 shares of the company's stock worth $301,000 after buying an additional 55 shares in the last quarter. Finally, Triad Wealth Partners LLC grew its holdings in Ferguson by 4.7% during the fourth quarter. Triad Wealth Partners LLC now owns 1,219 shares of the company's stock worth $271,000 after buying an additional 55 shares in the last quarter. Institutional investors own 81.98% of the company's stock.

Ferguson Stock Down 1.4%

FERG stock opened at $226.58 on Friday. The stock's fifty day simple moving average is $240.44 and its two-hundred day simple moving average is $242.18. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. Ferguson plc has a 1-year low of $177.75 and a 1-year high of $271.64. The stock has a market cap of $43.94 billion, a P/E ratio of 26.35, a P/E/G ratio of 1.63 and a beta of 1.23.

Ferguson (NYSE:FERG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate 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 for the quarter. During the same period in the prior year, the firm posted $2.50 EPS. The firm's revenue for the quarter was up 3.6% on a year-over-year basis. Analysts expect that Ferguson plc will post 11.26 EPS 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 buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its shares are undervalued.

Ferguson Dividend Announcement

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

Key Headlines Impacting Ferguson

Here are the key news stories impacting Ferguson this week:

• Neutral Sentiment: Recent headlines centered on Sarah Ferguson’s reported ties to a scrapped NBC talk show deal, alleged personal scandals, and biographical claims about Princess Diana; these stories are unrelated to Ferguson plc’s fundamentals and are unlikely to materially affect the stock. Sarah Ferguson’s Actions Scrapped Major NBC Talk Show Deal — Source
• Neutral Sentiment: Additional coverage about Sarah Ferguson’s “chaotic” royal household and a rumored relationship with Sean “Diddy” Combs is celebrity/royal gossip, not company-specific news for Ferguson plc. How Sarah Ferguson’s 'chaotic' parenting squandered her talk show dreams with NBC
• Neutral Sentiment: Other articles reference Sarah Ferguson’s relationship with Prince Andrew and past disputes with Princess Diana, which do not provide any direct operational or financial catalyst for Ferguson plc shares. Sarah Ferguson doesn’t want to leave ex-husband former Prince Andrew ‘high and dry’ after scandals, claims expert

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FERG shares. UBS Group upped 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. Wells Fargo & Company upped 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. Truist Financial boosted their price objective on Ferguson from $260.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, February 25th. Jefferies Financial Group reissued a "buy" rating and issued a $300.00 price objective on shares of Ferguson in a research report on Tuesday, February 24th. Finally, Citigroup reissued a "neutral" rating on shares of Ferguson in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $269.73.

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.

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