ABN Amro Investment Solutions Decreases Stock Position in Ferguson plc $FERG

Key Points

• ABN Amro Investment Solutions reduced its Ferguson stake by 7.1% in the fourth quarter, selling 13,289 shares and leaving it with 174,343 shares worth about $38.8 million.
• Analyst sentiment remains broadly positive, with Ferguson carrying a Moderate Buy consensus rating and a consensus price target of $269.73 after several firms raised targets.
• Ferguson reported better-than-expected earnings of $2.28 per share on revenue of $7.47 billion, and its board authorized a $2 billion share repurchase plan plus a quarterly dividend of $0.89 per share.

ABN Amro Investment Solutions cut its stake in Ferguson plc (NYSE:FERG - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 174,343 shares of the company's stock after selling 13,289 shares during the period. ABN Amro Investment Solutions owned about 0.09% of Ferguson worth $38,814,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Atria Investments Inc lifted its holdings in Ferguson by 38.2% during the 3rd quarter. Atria Investments Inc now owns 15,401 shares of the company's stock worth $3,459,000 after buying an additional 4,259 shares during the last quarter. Rakuten Investment Management Inc. purchased a new stake in Ferguson during the 3rd quarter worth about $1,002,000. Kinetic Partners Management LP lifted its holdings in Ferguson by 53.4% during the 3rd quarter. Kinetic Partners Management LP now owns 349,000 shares of the company's stock worth $78,378,000 after buying an additional 121,500 shares during the last quarter. C WorldWide Group Holding A S lifted its holdings in Ferguson by 108.8% during the 3rd quarter. C WorldWide Group Holding A S now owns 535,363 shares of the company's stock worth $120,232,000 after buying an additional 278,971 shares during the last quarter. Finally, iA Global Asset Management Inc. purchased a new stake in Ferguson during the 3rd quarter worth about $1,252,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FERG. Royal Bank Of Canada lifted 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. Jefferies Financial Group reaffirmed a "buy" rating and set a $300.00 price target on shares of Ferguson in a report on Tuesday, February 24th. Oppenheimer lifted their price target on Ferguson from $255.00 to $280.00 and gave the stock an "outperform" rating in a report on Wednesday, February 25th. Citigroup reaffirmed a "neutral" rating on shares of Ferguson in a report on Wednesday, May 6th. Finally, Wells Fargo & Company lifted 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. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ferguson currently has a consensus rating of "Moderate Buy" and a consensus target price of $269.73.

Ferguson Stock Up 1.6%

Ferguson stock opened at $225.04 on Thursday. Ferguson plc has a fifty-two week low of $176.26 and a fifty-two week high of $271.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88. The company has a market capitalization of $43.64 billion, a P/E ratio of 26.17, a PEG ratio of 1.57 and a beta of 1.23. The stock has a 50-day simple moving average of $240.37 and a 200-day simple moving average of $243.12.

Ferguson (NYSE:FERG - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.14. Ferguson had a return on equity of 38.92% and a net margin of 6.98%.The business had revenue of $7.47 billion during the quarter. During the same period in the previous year, the firm posted $2.50 earnings per share. The firm's revenue for the quarter was up 3.6% on a year-over-year basis. Equities research analysts expect that Ferguson plc will post 11.25 earnings per share for the current year.

Ferguson declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.

Ferguson Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.56 annualized dividend and a yield of 1.6%. Ferguson's dividend payout ratio is currently 41.40%.

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.

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