California State Teachers Retirement System Has $16.55 Billion Position in Ferguson plc $FERG

Key Points

• California State Teachers Retirement System dramatically increased its Ferguson stake by 23,684.2% in the second quarter, owning 69.75 million shares valued at approximately $16.55 billion, or 36.05% of the company.
• Ferguson reported quarterly EPS of $3.39, beating analyst expectations of $3.23, on revenue of $8.75 billion. The company also announced a quarterly dividend of $0.89 per share, representing a 1.6% annualized yield.
• Analysts maintain a generally positive outlook, with Ferguson receiving a “Moderate Buy” consensus rating and an average price target of $285.57, above its reported share price of $228.53.

California State Teachers Retirement System raised its position in Ferguson plc (NYSE:FERG - Free Report) by 23,684.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,745,828 shares of the company's stock after purchasing an additional 69,452,584 shares during the period. California State Teachers Retirement System owned approximately 36.05% of Ferguson worth $16,552,777,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in FERG. Leonteq Securities AG acquired a new position in Ferguson in the fourth quarter valued at about $26,000. Basepoint Wealth LLC bought a new stake in shares of Ferguson in the fourth quarter worth about $26,000. Compass Financial Management LLC acquired a new stake in shares of Ferguson during the second quarter worth about $32,000. Zions Bancorporation National Association UT raised 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 worth $32,000 after purchasing an additional 79 shares during the period. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Ferguson during the third quarter worth about $34,000. Institutional investors own 81.98% of the company's stock.

Ferguson Price Performance

NYSE FERG opened at $228.53 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. Ferguson plc has a 12-month low of $207.64 and a 12-month high of $271.64. The company has a market capitalization of $44.21 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.58 and a beta of 1.13. The firm's 50 day moving average is $235.33 and its 200-day moving average is $237.85.

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

Ferguson Announces Dividend

The firm also recently disclosed 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. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, August 21st. Ferguson's dividend payout ratio is currently 41.83%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FERG. Royal Bank Of Canada boosted their price objective on Ferguson from $281.00 to $290.00 and gave the company an "outperform" rating in a research report on Tuesday, August 11th. UBS Group raised their target price on shares of Ferguson from $252.00 to $256.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. Robert W. Baird upped their price target on shares of Ferguson from $285.00 to $288.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. Jefferies Financial Group set a $295.00 price objective on shares of Ferguson in a research report on Thursday. Finally, Barclays raised their price objective on shares of Ferguson from $297.00 to $313.00 and gave the stock an "overweight" rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Ferguson presently has an average rating of "Moderate Buy" and an average price target of $285.57.

Insider Buying and Selling at Ferguson

In other news, insider Jake Schlicher sold 5,177 shares of the firm's stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $230.92, for a total value of $1,195,472.84. Following the completion of the transaction, the insider owned 9,490 shares in the company, valued at $2,191,430.80. This trade represents a 35.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is owned by insiders.

Ferguson Company 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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