Ferguson plc $FERG Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp increased its holdings in Ferguson plc (NYSE:FERG) by 2,762.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,612 shares of the company’s stock after buying an additional 6,381 shares during the quarter. Fifth Third Bancorp’s holdings in Ferguson were worth $1,542,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in FERG. Basepoint Wealth LLC acquired a new position in Ferguson during the 4th quarter worth $26,000. Leonteq Securities AG bought a new stake in shares of Ferguson during the 4th quarter worth about $26,000. Zions Bancorporation National Association UT lifted its stake in shares of Ferguson by 123.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock worth $32,000 after acquiring an additional 79 shares during the period. Johnson Financial Group Inc. bought a new position in shares of Ferguson in the third quarter valued at approximately $34,000. Finally, Cornerstone Planning Group LLC increased its stake in shares of Ferguson by 53.9% during the fourth quarter. Cornerstone Planning Group LLC now owns 197 shares of the company’s stock valued at $44,000 after acquiring an additional 69 shares during the period. Institutional investors own 81.98% of the company’s stock.

Ferguson Trading Down 0.4%

NYSE:FERG opened at $228.66 on Friday. The stock has a fifty day simple moving average of $229.67 and a 200 day simple moving average of $240.52. The firm has a market capitalization of $44.35 billion, a price-to-earnings ratio of 26.59, a price-to-earnings-growth ratio of 1.62 and a beta of 1.13. Ferguson plc has a 1-year low of $207.64 and a 1-year high of $271.64. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68.

Ferguson (NYSE:FERG) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.14. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The firm had revenue of $7.47 billion for the quarter. During the same quarter in the previous year, the firm posted $2.50 EPS. Ferguson’s quarterly revenue was up 3.6% on a year-over-year basis. Sell-side analysts forecast that Ferguson plc will post 11.3 earnings per share for the current year.

Ferguson announced that its board has initiated a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th were given a $0.89 dividend. 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 currently 41.40%.

Analyst Ratings Changes

FERG has been the subject of a number of research analyst reports. The Goldman Sachs Group downgraded Ferguson from a “buy” rating to a “neutral” rating and cut their target price for the stock from $315.00 to $265.00 in a research report on Monday, July 6th. Royal Bank Of Canada lifted their price target on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Wells Fargo & Company raised their price objective on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Zelman & Associates raised shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 target price for the company in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $277.21.

Ferguson 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.