Saudi Central Bank Boosts Stock Holdings in Ferguson plc $FERG

Key Points

• Saudi Central Bank increased its Ferguson stake by 88.5% in the second quarter, bringing its holdings to 13,607 shares valued at approximately $3.23 million. Institutional investors collectively own 81.98% of the company.
• Ferguson exceeded quarterly earnings expectations, reporting $3.39 in EPS versus the $3.23 consensus on revenue of $8.75 billion. Analysts expect $11.42 in full-year EPS.
• The company declared a quarterly dividend of $0.89, or $3.56 annually, representing a 1.6% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $285.57.

Saudi Central Bank grew its stake in shares of Ferguson plc (NYSE:FERG - Free Report) by 88.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,607 shares of the company's stock after acquiring an additional 6,389 shares during the quarter. Saudi Central Bank's holdings in Ferguson were worth $3,229,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Basepoint Wealth LLC bought a new position in shares of Ferguson in the 4th quarter worth approximately $26,000. Leonteq Securities AG purchased a new position in shares of Ferguson in the fourth quarter worth approximately $26,000. Compass Financial Management LLC bought a new stake in Ferguson during the second quarter valued at approximately $32,000. Zions Bancorporation National Association UT grew its position in 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 buying an additional 79 shares during the period. Finally, Johnson Financial Group Inc. purchased a new stake in Ferguson during the third quarter valued at approximately $34,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Stock Performance

FERG opened at $228.53 on Tuesday. The company has a 50 day simple moving average of $235.33 and a two-hundred day simple moving average of $237.85. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 0.93. The firm has a market cap of $44.21 billion, a P/E ratio of 26.85, a PEG ratio of 1.58 and a beta of 1.13. Ferguson plc has a 1-year low of $207.64 and a 1-year high of $271.64.

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, 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 firm had revenue of $8.75 billion for the quarter. Equities analysts forecast 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 given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, August 21st. Ferguson's payout ratio is presently 41.83%.

Insider Activity at Ferguson

In related news, insider Jake Schlicher sold 5,177 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $230.92, for a total transaction of $1,195,472.84. Following the completion of the sale, the insider owned 9,490 shares in the company, valued at approximately $2,191,430.80. This trade represents a 35.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FERG shares. Barclays lifted their price target on shares of Ferguson from $297.00 to $313.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 11th. Sanford C. Bernstein upped their price objective on Ferguson from $310.00 to $325.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 11th. Zelman & Associates raised Ferguson from a "hold" rating to an "outperform" rating and set a $285.00 target price on the stock in a report on Friday, July 17th. The Goldman Sachs Group lowered Ferguson from a "buy" rating to a "neutral" rating and cut their price target for the company from $315.00 to $265.00 in a report on Monday, July 6th. Finally, UBS Group upped their price target on Ferguson from $252.00 to $256.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Two 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $285.57.

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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