ABN Amro Investment Solutions Buys 6,611 Shares of Ferguson plc $FERG

ABN Amro Investment Solutions raised its stake in Ferguson plc (NYSE:FERG) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 180,954 shares of the company’s stock after purchasing an additional 6,611 shares during the period. ABN Amro Investment Solutions owned 0.09% of Ferguson worth $42,209,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Raiffeisen Bank International AG boosted its stake in Ferguson by 350,745.0% in the 4th quarter. Raiffeisen Bank International AG now owns 522,759 shares of the company’s stock valued at $116,382,000 after purchasing an additional 522,610 shares during the period. Marsico Capital Management LLC acquired a new position in Ferguson in the 4th quarter valued at $11,017,000. Lmcg Investments LLC bought a new position in Ferguson during the 1st quarter worth $1,806,000. V Square Quantitative Management LLC bought a new position in Ferguson during the 4th quarter worth $891,000. Finally, D.A. Davidson & CO. lifted its holdings in shares of Ferguson by 89.6% during the fourth quarter. D.A. Davidson & CO. now owns 30,983 shares of the company’s stock worth $6,898,000 after buying an additional 14,644 shares in the last quarter. 81.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FERG has been the subject of a number of recent research reports. The Goldman Sachs Group cut shares of Ferguson from a “buy” rating to a “neutral” rating and reduced their target price for the company from $315.00 to $265.00 in a research report on Monday, July 6th. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Wells Fargo & Company lifted their price objective on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Zelman & Associates raised shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price objective for the company in a report on Friday, July 17th. Finally, Royal Bank Of Canada increased their target price on shares of Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Ferguson currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.21.

Ferguson Stock Performance

NYSE:FERG opened at $226.28 on Wednesday. The company has a market cap of $43.88 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 1.62 and a beta of 1.13. Ferguson plc has a fifty-two week low of $207.64 and a fifty-two week high of $271.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78. The stock has a fifty day moving average price of $229.80 and a 200-day moving average price of $240.44.

Ferguson (NYSE:FERG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The company had revenue of $7.47 billion for the quarter. During the same quarter in the previous year, the business posted $2.50 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, equities analysts anticipate that Ferguson plc will post 11.27 EPS for the current fiscal year.

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 issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, May 15th. Ferguson’s dividend payout ratio is 41.40%.

Ferguson declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors 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.