Bank Julius Baer & Co. Ltd Zurich Buys 348,367 Shares of Ferguson plc $FERG

Key Points

• Bank Julius Baer & Co. Ltd Zurich sharply increased its Ferguson position by 1,203% in the fourth quarter, buying 348,367 shares and bringing its total holding to 377,325 shares worth about $84.3 million.
• Ferguson reported better-than-expected quarterly earnings of $2.28 per share on revenue of $7.47 billion, while revenue rose 3.6% year over year.
• The company also announced a $2 billion share repurchase program and a quarterly dividend of $0.89 per share, while analysts remain broadly positive with a consensus rating of “Moderate Buy.”

Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Ferguson plc (NYSE:FERG - Free Report) by 1,203.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 377,325 shares of the company's stock after purchasing an additional 348,367 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned 0.19% of Ferguson worth $84,289,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Ferguson by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 19,418,334 shares of the company's stock valued at $4,323,104,000 after acquiring an additional 102,850 shares in the last quarter. State Street Corp lifted its position in shares of Ferguson by 1.9% in the third quarter. State Street Corp now owns 4,437,468 shares of the company's stock valued at $1,000,152,000 after acquiring an additional 81,094 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Ferguson by 2.6% in the third quarter. Franklin Resources Inc. now owns 4,367,818 shares of the company's stock valued at $980,921,000 after acquiring an additional 112,157 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Ferguson by 22.4% in the third quarter. Wellington Management Group LLP now owns 3,734,911 shares of the company's stock valued at $838,786,000 after acquiring an additional 682,666 shares in the last quarter. Finally, Soroban Capital Partners LP lifted its position in shares of Ferguson by 2.8% in the second quarter. Soroban Capital Partners LP now owns 3,705,056 shares of the company's stock valued at $806,776,000 after acquiring an additional 100,559 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Price Performance

NYSE:FERG opened at $233.68 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $45.32 billion, a P/E ratio of 26.49, a P/E/G ratio of 1.69 and a beta of 1.23. Ferguson plc has a 12 month low of $174.99 and a 12 month high of $271.64. The business's 50-day moving average is $241.87 and its 200 day moving average is $243.98.

Ferguson (NYSE:FERG - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, topping analysts' consensus estimates of $2.14 by $0.14. The company had revenue of $7.47 billion for the quarter. Ferguson had a return on equity of 38.92% and a net margin of 6.98%.Ferguson's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.50 earnings per share. On average, equities research analysts forecast that Ferguson plc will post 11.23 earnings per share for the current fiscal year.

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

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, May 15th. Ferguson's payout ratio is currently 40.36%.

Wall Street Analysts Forecast Growth

FERG has been the topic of several research analyst reports. Wells Fargo & Company boosted their price objective on Ferguson from $260.00 to $285.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Royal Bank Of Canada boosted their price objective on Ferguson from $271.00 to $281.00 and gave the company an "outperform" rating in a research report on Wednesday, May 6th. Oppenheimer boosted their price objective on Ferguson from $255.00 to $280.00 and gave the company an "outperform" rating in a research report on Wednesday, February 25th. Barclays boosted their price objective on Ferguson from $295.00 to $297.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Finally, UBS Group boosted their target price on Ferguson from $220.00 to $252.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 25th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $269.73.

About Ferguson

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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