Swedbank AB Sells 5,537 Shares of Ferguson plc $FERG

Key Points

• Swedbank AB reduced its stake in Ferguson plc by 4.1% in the first quarter, selling 5,537 shares and leaving it with 128,811 shares worth about $30.0 million.
• Ferguson reported better-than-expected earnings for the quarter, posting $2.28 EPS versus the $2.14 estimate on revenue of $7.47 billion, while revenue rose 3.6% year over year.
• The company also authorized a $2 billion share buyback and paid a quarterly dividend of $0.89 per share, which annualizes to $3.56 and yields about 1.6%.

Swedbank AB lowered its stake in shares of Ferguson plc (NYSE:FERG - Free Report) by 4.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 128,811 shares of the company's stock after selling 5,537 shares during the period. Swedbank AB owned approximately 0.07% of Ferguson worth $30,046,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Westbourne Investment Advisors Inc. acquired a new stake in Ferguson during the first quarter worth about $6,710,000. DGS Capital Management LLC raised its holdings in Ferguson by 20.8% in the 1st quarter. DGS Capital Management LLC now owns 1,455 shares of the company's stock valued at $339,000 after acquiring an additional 251 shares in the last quarter. Stephens Inc. AR lifted its position in shares of Ferguson by 19.2% in the 1st quarter. Stephens Inc. AR now owns 2,584 shares of the company's stock worth $603,000 after acquiring an additional 416 shares during the period. Raleigh Capital Management Inc. lifted its position in shares of Ferguson by 5.5% in the 1st quarter. Raleigh Capital Management Inc. now owns 1,817 shares of the company's stock worth $424,000 after acquiring an additional 95 shares during the period. Finally, Koshinski Asset Management Inc. acquired a new stake in shares of Ferguson during the 1st quarter worth approximately $204,000. Institutional investors own 81.98% of the company's stock.

Ferguson Trading Down 0.7%

Shares of FERG opened at $221.64 on Thursday. Ferguson plc has a 1 year low of $207.64 and a 1 year high of $271.64. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68. The stock has a 50 day simple moving average of $233.52 and a 200-day simple moving average of $240.29. The stock has a market cap of $42.98 billion, a PE ratio of 25.77, a PEG ratio of 1.58 and a beta of 1.13.

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 the consensus estimate of $2.14 by $0.14. The business had revenue of $7.47 billion during the quarter. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.Ferguson's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.50 EPS. On average, sell-side analysts predict that Ferguson plc will post 11.26 EPS for the current fiscal year.

Ferguson announced that its board has authorized 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 buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its shares are undervalued.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th were issued a dividend of $0.89 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. Ferguson's dividend payout ratio (DPR) is presently 41.40%.

Wall Street Analyst Weigh In

FERG has been the topic of a number of research reports. 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. Citigroup reiterated a "neutral" rating on shares of Ferguson in a research note on Wednesday, May 6th. Wells Fargo & Company boosted their price target on shares of Ferguson from $260.00 to $285.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Barclays increased their price objective on shares of Ferguson from $295.00 to $297.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Finally, Weiss Ratings raised shares of Ferguson from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $276.61.

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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