Baader Bank Aktiengesellschaft Sells 10,001 Shares of Ferguson plc $FERG

Key Points

• Baader Bank Aktiengesellschaft cut its Ferguson stake by 16.4% in the fourth quarter, selling 10,001 shares and leaving it with 51,000 shares valued at about $11.35 million.
• Ferguson reported strong quarterly results, posting EPS of $2.28 versus the $2.14 estimate and revenue of $7.47 billion, up 3.6% year over year.
• The company also announced a $2.0 billion share repurchase program and a quarterly dividend of $0.89 per share, while analysts maintain a consensus rating of Moderate Buy with an average target price of $269.73.

Baader Bank Aktiengesellschaft trimmed its stake in Ferguson plc (NYSE:FERG - Free Report) by 16.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,000 shares of the company's stock after selling 10,001 shares during the period. Ferguson accounts for 0.8% of Baader Bank Aktiengesellschaft's portfolio, making the stock its 22nd largest position. Baader Bank Aktiengesellschaft's holdings in Ferguson were worth $11,354,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Durable Capital Partners LP purchased a new position in Ferguson during the 3rd quarter worth $244,561,000. Qube Research & Technologies Ltd grew its stake in Ferguson by 588.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,087,523 shares of the company's stock worth $244,236,000 after buying an additional 929,475 shares during the last quarter. Wellington Management Group LLP grew its stake in Ferguson by 22.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,734,911 shares of the company's stock worth $838,786,000 after buying an additional 682,666 shares during the last quarter. 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. Finally, Voloridge Investment Management LLC grew its stake in Ferguson by 502.8% during the 3rd quarter. Voloridge Investment Management LLC now owns 765,725 shares of the company's stock worth $171,967,000 after buying an additional 638,692 shares during the last quarter. 81.98% of the stock is owned by institutional investors.

Ferguson Price Performance

Shares of Ferguson stock opened at $233.68 on Thursday. The business has a 50 day simple moving average of $241.87 and a two-hundred day simple moving average of $243.98. Ferguson plc has a 12 month low of $174.99 and a 12 month high of $271.64. The stock has a market capitalization of $45.32 billion, a P/E ratio of 26.49, a PEG ratio of 1.69 and a beta of 1.23. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01.

Ferguson (NYSE:FERG - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating analysts' consensus estimates 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 company earned $2.50 EPS. Ferguson's revenue was up 3.6% compared to the same quarter last year. As a group, analysts predict that Ferguson plc will post 11.23 EPS for the current fiscal year.

Ferguson announced that its board has approved a stock repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, May 15th. Ferguson's dividend payout ratio (DPR) is currently 40.36%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Jefferies Financial Group reaffirmed a "buy" rating and set a $300.00 target price on shares of Ferguson in a report on Tuesday, February 24th. Weiss Ratings downgraded Ferguson from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, May 6th. Barclays lifted 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. Truist Financial lifted their target price on Ferguson from $260.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday, February 25th. Finally, Wells Fargo & Company lifted their target price on Ferguson from $260.00 to $285.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Two research 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 company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $269.73.

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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