8,337 Shares in Ferguson plc $FERG Purchased by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Ferguson plc (NYSE:FERG) during the 4th quarter, HoldingsChannel reports. The firm acquired 8,337 shares of the company’s stock, valued at approximately $1,856,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its stake in Ferguson by 113.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,952 shares of the company’s stock valued at $2,438,000 after purchasing an additional 5,828 shares during the period. Tredje AP fonden boosted its stake in Ferguson by 3.9% during the 4th quarter. Tredje AP fonden now owns 17,980 shares of the company’s stock valued at $4,003,000 after purchasing an additional 680 shares during the period. Hartford Funds Management Co LLC acquired a new position in Ferguson during the 4th quarter valued at about $674,000. HighTower Advisors LLC boosted its stake in Ferguson by 37.4% during the 4th quarter. HighTower Advisors LLC now owns 21,473 shares of the company’s stock valued at $4,780,000 after purchasing an additional 5,840 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Ferguson by 36.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,620 shares of the company’s stock valued at $1,251,000 after purchasing an additional 1,501 shares during the period. 81.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FERG has been the subject of a number of analyst reports. UBS Group boosted their target price on shares of Ferguson from $220.00 to $252.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Barclays boosted their target price on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Jefferies Financial Group reissued a “buy” rating and set a $300.00 target price on shares of Ferguson in a research note on Tuesday, February 24th. Royal Bank Of Canada boosted their price target 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. Finally, Truist Financial boosted their price target on shares of Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Ferguson currently has a consensus rating of “Moderate Buy” and an average target price of $269.73.

Ferguson Stock Down 0.8%

FERG stock opened at $223.93 on Friday. Ferguson plc has a 52 week low of $176.26 and a 52 week high of $271.64. The company has a market capitalization of $43.43 billion, a price-to-earnings ratio of 26.04, a price-to-earnings-growth ratio of 1.60 and a beta of 1.23. The firm’s 50-day moving average is $240.29 and its two-hundred day moving average is $242.95. The company has a current ratio of 1.88, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68.

Ferguson (NYSE:FERG) last released 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 net margin of 6.98% and a return on equity of 38.92%. The company had revenue of $7.47 billion for the quarter. During the same quarter last year, the firm posted $2.50 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, analysts forecast that Ferguson plc will post 11.25 earnings per share for the current fiscal year.

Ferguson announced that its board has approved a share repurchase program on Tuesday, May 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be given 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 is Friday, May 15th. Ferguson’s payout ratio is 41.40%.

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.