Andra AP fonden Has $12.20 Million Stock Holdings in Ferguson plc $FERG

Key Points

• Andra AP fonden reduced its Ferguson plc stake by 28.6% in the first quarter, selling 21,000 shares and leaving it with 52,300 shares worth about $12.2 million.
• Ferguson reported better-than-expected fiscal Q1 results, posting $2.28 EPS versus the $2.14 consensus on $7.47 billion in revenue, with revenue up 3.6% year over year.
• The company also returned cash to shareholders and signaled confidence via a $2 billion share buyback authorization and a quarterly dividend of $0.89 per share (1.6% annualized yield).

Andra AP fonden trimmed its holdings in shares of Ferguson plc (NYSE:FERG - Free Report) by 28.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 52,300 shares of the company's stock after selling 21,000 shares during the quarter. Andra AP fonden's holdings in Ferguson were worth $12,199,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Leonteq Securities AG acquired a new stake in Ferguson in the 4th quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new position in Ferguson during the 4th quarter worth approximately $26,000. Central Pacific Bank Trust Division bought a new position in shares of Ferguson during the 4th quarter worth approximately $27,000. Zions Bancorporation National Association UT raised its holdings in shares of Ferguson by 123.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company's stock valued at $32,000 after purchasing an additional 79 shares during the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Ferguson in the third quarter valued at approximately $34,000. Institutional investors own 81.98% of the company's stock.

Ferguson Price Performance

NYSE:FERG opened at $226.28 on Wednesday. Ferguson plc has a 52 week low of $207.64 and a 52 week high of $271.64. The firm has a market cap of $43.88 billion, a price-to-earnings ratio of 26.31, a P/E/G ratio of 1.62 and a beta of 1.13. The firm's 50-day simple moving average is $229.80 and its 200 day simple moving average is $240.44. 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 (NYSE:FERG - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.14 by $0.14. The company had revenue of $7.47 billion for the quarter. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The firm's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.50 earnings per share. As a group, sell-side analysts predict that Ferguson plc will post 11.27 earnings per share for the current year.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Friday, May 15th were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, May 15th. Ferguson's dividend payout ratio is presently 41.40%.

Ferguson announced that its Board of Directors has authorized a share buyback program on Tuesday, May 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

FERG has been the topic of several analyst reports. Barclays upped their target price on Ferguson from $295.00 to $297.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. The Goldman Sachs Group cut shares of Ferguson from a "buy" rating to a "neutral" rating and dropped their target price for the company from $315.00 to $265.00 in a report on Monday, July 6th. 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. Royal Bank Of Canada boosted their price target on Ferguson from $271.00 to $281.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Finally, Zelman & Associates upgraded Ferguson from a "hold" rating to an "outperform" rating and set a $285.00 price objective on the stock in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.