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

Fideuram Intesa Sanpaolo Private Banking S.P.A. grew its stake in shares of Ferguson plc (NYSE:FERG) by 32.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 11,030 shares of the company’s stock after purchasing an additional 2,693 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Ferguson were worth $2,573,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of FERG. Leonteq Securities AG acquired a new position in shares of Ferguson in the 4th quarter valued at $26,000. Basepoint Wealth LLC acquired a new stake in Ferguson during the fourth quarter valued at $26,000. Central Pacific Bank Trust Division acquired a new stake in Ferguson during the fourth quarter valued at $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in Ferguson during the third quarter valued at $28,000. Finally, Grove Bank & Trust increased its holdings in Ferguson by 154.4% in the fourth quarter. Grove Bank & Trust now owns 145 shares of the company’s stock valued at $32,000 after buying an additional 88 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FERG has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Barclays boosted their target price on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Royal Bank Of Canada raised their price target on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Citigroup reiterated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Finally, Weiss Ratings raised Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $277.58.

Ferguson Stock Performance

NYSE FERG opened at $230.22 on Friday. The company has a market cap of $44.65 billion, a P/E ratio of 26.77, a P/E/G ratio of 1.63 and a beta of 1.13. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96. The stock has a 50-day moving average of $235.86 and a two-hundred day moving average of $240.20. Ferguson plc has a 1-year low of $207.64 and a 1-year 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 business had revenue of $7.47 billion for the quarter. During the same period in the prior year, the company posted $2.50 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, analysts anticipate that Ferguson plc will post 11.26 EPS for the current year.

Ferguson Announces Dividend

The firm 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 $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is currently 41.40%.

Ferguson announced that its board has authorized a share repurchase program on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Ferguson Company 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.