Ferguson plc $FERG Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia trimmed its holdings in shares of Ferguson plc (NYSE:FERG) by 20.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,916 shares of the company’s stock after selling 7,035 shares during the period. Bank of Nova Scotia’s holdings in Ferguson were worth $6,512,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Ferguson by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 19,418,334 shares of the company’s stock valued at $4,323,104,000 after acquiring an additional 102,850 shares during the period. Wellington Management Group LLP increased its holdings in shares of 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 acquiring an additional 5,631,554 shares during the period. Janus Henderson Group PLC lifted its position in Ferguson by 7.8% in the 4th quarter. Janus Henderson Group PLC now owns 5,981,791 shares of the company’s stock valued at $1,331,621,000 after purchasing an additional 434,650 shares during the last quarter. State Street Corp lifted its position in 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 purchasing an additional 79,296 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Ferguson by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 4,393,603 shares of the company’s stock valued at $977,959,000 after purchasing an additional 25,785 shares during the period. 81.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FERG has been the subject of several recent analyst reports. The Goldman Sachs Group cut shares of Ferguson from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $315.00 to $265.00 in a research report on Monday, July 6th. Barclays lifted their price target on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Wells Fargo & Company increased their price objective on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Citigroup reissued a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Finally, Zelman & Associates upgraded Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 target price on the stock in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $277.21.

Ferguson Stock Up 1.4%

Shares of FERG stock opened at $233.79 on Tuesday. Ferguson plc has a 1 year low of $207.64 and a 1 year high of $271.64. The stock has a market cap of $45.34 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.63 and a beta of 1.13. The business’s fifty day moving average is $230.08 and its 200-day moving average is $240.59. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78.

Ferguson (NYSE:FERG) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, beating 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 business had revenue of $7.47 billion during the quarter. During the same quarter last year, the company earned $2.50 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. Equities analysts expect that Ferguson plc will post 11.3 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th were given a $0.89 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.56 annualized dividend and a yield of 1.5%. Ferguson’s payout ratio is 41.40%.

Ferguson declared that its board has authorized a stock buyback plan on Tuesday, May 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to buy up to 3.9% of its stock through open market purchases. Stock buyback plans are often an indication 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.