UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 16,866 Shares of Ferguson plc $FERG

Key Points

• UBS Asset Management increased its Ferguson stake by 0.8% in the second quarter, acquiring 16,866 shares and bringing its holdings to 2.06 million shares valued at approximately $487.8 million. Institutional investors and hedge funds collectively own 81.98% of the company.
• Analysts maintain a generally positive outlook, with Ferguson carrying a consensus “Moderate Buy” rating and an average price target of $285.93. Recent upgrades lifted price targets as high as $325.
• Ferguson beat quarterly earnings expectations, reporting $3.39 in EPS versus the $3.23 consensus on $8.75 billion in revenue. The company also declared a $0.89 quarterly dividend and authorized a $2 billion share-repurchase program.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Ferguson plc (NYSE:FERG - Free Report) by 0.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,055,351 shares of the company's stock after acquiring an additional 16,866 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.06% of Ferguson worth $487,796,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP raised its position in Ferguson by 150.8% in the 4th quarter. Wellington Management Group LLP now owns 9,366,465 shares of the company's stock worth $2,085,256,000 after purchasing an additional 5,631,554 shares during the last quarter. Jupiter Topco LLC bought a new position in Ferguson in the 2nd quarter valued at $1,789,368,000. Janus Henderson Group PLC increased its stake in shares of Ferguson by 2.1% in the 1st quarter. Janus Henderson Group PLC now owns 6,107,108 shares of the company's stock valued at $1,424,075,000 after buying an additional 125,317 shares during the period. State Street Corp increased its stake in shares of Ferguson by 1.8% in the 4th quarter. State Street Corp now owns 4,516,764 shares of the company's stock valued at $1,005,567,000 after buying an additional 79,296 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Ferguson by 0.6% during the fourth quarter. Franklin Resources Inc. now owns 4,393,603 shares of the company's stock worth $977,959,000 after acquiring an additional 25,785 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $261.00 price target on shares of Ferguson in a research note on Tuesday, August 18th. Citigroup reissued a "neutral" rating on shares of Ferguson in a report on Wednesday, May 6th. UBS Group upped their target price on shares of Ferguson from $252.00 to $256.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Sanford C. Bernstein lifted their price target on shares of Ferguson from $310.00 to $325.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 11th. Finally, Oppenheimer increased their price objective on shares of Ferguson from $280.00 to $288.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Ferguson presently has a consensus rating of "Moderate Buy" and an average price target of $285.93.

Ferguson Stock Up 0.0%

Shares of Ferguson stock opened at $228.52 on Monday. Ferguson plc has a 1 year low of $207.64 and a 1 year high of $271.64. The business has a 50-day moving average of $236.93 and a two-hundred day moving average of $239.47. The company has a market capitalization of $44.21 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 1.59 and a beta of 1.14. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 0.93.

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

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Friday, August 21st will be issued 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 dividend payout ratio is 41.83%.

Ferguson announced that its board has approved a stock repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

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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