Baader Bank Aktiengesellschaft Sells 3,022 Shares of Ferguson plc $FERG

Baader Bank Aktiengesellschaft lessened its stake in shares of Ferguson plc (NYSE:FERG) by 5.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,978 shares of the company’s stock after selling 3,022 shares during the period. Ferguson comprises about 0.9% of Baader Bank Aktiengesellschaft’s holdings, making the stock its 22nd biggest position. Baader Bank Aktiengesellschaft’s holdings in Ferguson were worth $11,191,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Raiffeisen Bank International AG lifted its holdings in shares of Ferguson by 350,745.0% during the 4th quarter. Raiffeisen Bank International AG now owns 522,759 shares of the company’s stock worth $116,382,000 after acquiring an additional 522,610 shares during the last quarter. Marsico Capital Management LLC bought a new position in Ferguson in the fourth quarter valued at $11,017,000. Lmcg Investments LLC bought a new position in Ferguson in the first quarter valued at $1,806,000. V Square Quantitative Management LLC purchased a new stake in Ferguson during the fourth quarter valued at about $891,000. Finally, D.A. Davidson & CO. raised its position in Ferguson by 89.6% during the fourth quarter. D.A. Davidson & CO. now owns 30,983 shares of the company’s stock valued at $6,898,000 after purchasing an additional 14,644 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of FERG stock opened at $229.04 on Tuesday. The company’s fifty day moving average price is $230.04 and its 200-day moving average price is $240.41. The stock has a market cap of $44.42 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 1.64 and a beta of 1.13. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68. Ferguson plc has a 12 month low of $207.64 and a 12 month high of $271.64.

Ferguson (NYSE:FERG) last issued its quarterly earnings results 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 net margin of 6.98% and a return on equity of 38.81%. The company had revenue of $7.47 billion during the quarter. During the same quarter in the previous year, the business earned $2.50 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts expect that Ferguson plc will post 11.27 EPS for the current fiscal year.

Ferguson announced that its Board of Directors has approved a share 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th were paid 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 currently 41.40%.

Analysts Set New Price Targets

FERG has been the subject of a number of research reports. Barclays upped their price objective on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Weiss Ratings upgraded Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. The Goldman Sachs Group cut shares of Ferguson from a “buy” rating to a “neutral” rating and cut their price objective for the company from $315.00 to $265.00 in a research note on Monday, July 6th. Zelman & Associates upgraded Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price target on the stock in a research report on Friday. Finally, Royal Bank Of Canada raised their price target on shares of Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Ferguson currently has a consensus rating of “Moderate Buy” and a consensus 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.