Osmosis Investment Management UK Ltd Trims Stock Position in Ferguson plc $FERG

Key Points

• Osmosis Investment Management UK Ltd cut its Ferguson stake by 48.4% in the second quarter, selling 5,109 shares and retaining 5,455 shares valued at approximately $1.3 million. Institutional investors collectively own 81.98% of the company.
• Ferguson reported quarterly EPS of $3.39, exceeding the $3.23 consensus estimate, on revenue of $8.75 billion. The company also authorized a $2 billion share buyback and declared a quarterly dividend of $0.89 per share, yielding about 1.5% annually.
• Analyst sentiment remains favorable, with Ferguson carrying a “Moderate Buy” consensus rating and an average price target of $285.93, above its reported share price of $236.11.

Osmosis Investment Management UK Ltd lessened its stake in shares of Ferguson plc (NYSE:FERG - Free Report) by 48.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,455 shares of the company's stock after selling 5,109 shares during the period. Osmosis Investment Management UK Ltd's holdings in Ferguson were worth $1,295,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of FERG. Barbara Oil Co. purchased a new position in Ferguson during the 2nd quarter worth $1,079,000. Saranac Partners Ltd lifted its holdings in shares of Ferguson by 12.8% in the 2nd quarter. Saranac Partners Ltd now owns 1,625 shares of the company's stock worth $386,000 after buying an additional 185 shares during the period. Compass Financial Management LLC purchased a new stake in shares of Ferguson in the 2nd quarter worth $32,000. Greenland Capital Management LP bought a new position in shares of Ferguson during the 2nd quarter worth $1,481,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Ferguson by 12.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 747 shares of the company's stock valued at $177,000 after buying an additional 81 shares during the period. Hedge funds and other institutional investors own 81.98% of the company's stock.

Ferguson Stock Performance

Shares of Ferguson stock opened at $236.11 on Tuesday. The company has a market capitalization of $45.68 billion, a PE ratio of 27.75, a P/E/G ratio of 1.68 and a beta of 1.14. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.73. The company has a 50-day simple moving average of $237.19 and a two-hundred day simple moving average of $240.24. Ferguson plc has a one year low of $207.64 and a one year high of $271.64.

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

Ferguson declared that its board has initiated a stock buyback program 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Friday, August 21st will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. Ferguson's dividend payout ratio is presently 41.83%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barclays lifted their price objective on Ferguson from $297.00 to $313.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Sanford C. Bernstein boosted their price target on shares of Ferguson from $310.00 to $325.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. Zelman & Associates raised shares of Ferguson from a "hold" rating to an "outperform" rating and set a $285.00 price target for the company in a research report on Friday, July 17th. Citigroup reaffirmed a "neutral" rating on shares of Ferguson in a research report on Wednesday, May 6th. Finally, Robert W. Baird increased their price objective on shares of Ferguson from $285.00 to $288.00 and gave the company an "outperform" rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $285.93.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source