Caisse de depot et placement du Quebec Sells 132,746 Shares of Ferguson plc $FERG

Key Points

• Caisse de dépôt et placement du Québec cut its Ferguson stake by 90.5% in the second quarter, selling 132,746 shares and retaining 13,861 shares valued at approximately $3.29 million. Institutional investors collectively own 81.98% of the company.
• Analysts maintain a generally positive outlook, with Ferguson receiving a “Moderate Buy” consensus rating and an average price target of $285.93. Recent targets range from $256 to $325.
• Ferguson exceeded quarterly earnings expectations, reporting EPS of $3.39 versus the $3.23 consensus, while declaring a quarterly dividend of $0.89 per share and maintaining a $2 billion share-repurchase authorization.

Caisse de depot et placement du Quebec lessened its holdings in shares of Ferguson plc (NYSE:FERG - Free Report) by 90.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,861 shares of the company's stock after selling 132,746 shares during the quarter. Caisse de depot et placement du Quebec's holdings in Ferguson were worth $3,290,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Leonteq Securities AG bought a new position in shares of Ferguson during the 4th quarter worth approximately $26,000. Basepoint Wealth LLC bought a new position in shares of Ferguson in the fourth quarter valued at approximately $26,000. Compass Financial Management LLC purchased a new stake in shares of Ferguson during the second quarter valued at approximately $32,000. Zions Bancorporation National Association UT increased its position in shares of Ferguson by 123.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company's stock valued at $32,000 after acquiring an additional 79 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in Ferguson during the third quarter worth $34,000. Hedge funds and other institutional investors own 81.98% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on FERG. Sanford C. Bernstein boosted their price objective on Ferguson from $310.00 to $325.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 11th. Barclays raised their target price on Ferguson from $297.00 to $313.00 and gave the company an "overweight" rating in a research report on Tuesday, August 11th. The Goldman Sachs Group cut Ferguson from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $315.00 to $265.00 in a research note on Monday, July 6th. UBS Group boosted their price target on shares of Ferguson from $252.00 to $256.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. Finally, Oppenheimer increased their price target on shares of Ferguson from $280.00 to $288.00 and gave the company an "outperform" rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $285.93.

Ferguson Price Performance

Ferguson stock opened at $228.52 on Friday. The business's 50 day simple moving average is $236.93 and its 200 day simple moving average is $239.63. Ferguson plc has a 12 month low of $207.64 and a 12 month high of $271.64. The company has a market cap of $44.21 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.59 and a beta of 1.14. The company has a current ratio of 1.73, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72.

Ferguson (NYSE:FERG - Get Free Report) last released its earnings results on Monday, August 10th. The company reported $3.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.23 by $0.16. The business had revenue of $8.75 billion during the quarter. Ferguson had a return on equity of 37.24% and a net margin of 6.82%. Sell-side analysts forecast that Ferguson plc will post 11.42 EPS for the current year.

Ferguson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Friday, August 21st will be paid a dividend of $0.89 per share. The ex-dividend date is Friday, August 21st. This represents a $3.56 annualized dividend and a dividend yield of 1.6%. Ferguson's dividend payout ratio is presently 41.83%.

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

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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