Cibc World Market Inc. Sells 7,063 Shares of Ferguson plc $FERG

Cibc World Market Inc. lessened its holdings in shares of Ferguson plc (NYSE:FERG) by 47.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,847 shares of the company’s stock after selling 7,063 shares during the period. Cibc World Market Inc.’s holdings in Ferguson were worth $1,862,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FERG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ferguson by 23.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock valued at $2,445,000 after acquiring an additional 2,940 shares in the last quarter. Caxton Associates LLP bought a new stake in Ferguson in the first quarter valued at $310,000. Focus Partners Wealth increased its position in Ferguson by 22.7% during the 1st quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock valued at $503,000 after purchasing an additional 581 shares during the period. Sivia Capital Partners LLC purchased a new position in Ferguson during the 2nd quarter valued at $257,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Ferguson by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock worth $150,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of Ferguson stock opened at $235.84 on Thursday. Ferguson plc has a 12 month low of $207.64 and a 12 month high of $271.64. The firm has a market capitalization of $45.62 billion, a P/E ratio of 27.71, a P/E/G ratio of 1.61 and a beta of 1.14. The company has a current ratio of 1.73, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The business has a fifty day simple moving average of $237.26 and a two-hundred day simple moving average of $239.91.

Ferguson (NYSE:FERG) last issued its quarterly earnings results on Monday, August 10th. The company reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.16. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. The company had revenue of $8.75 billion during the quarter. On average, equities analysts forecast that Ferguson plc will post 11.42 earnings per share for the current fiscal year.

Ferguson declared that its board has initiated 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 purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Ferguson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Friday, August 21st will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, August 21st. Ferguson’s dividend payout ratio is 41.83%.

Analyst Ratings Changes

Several equities research analysts have recently commented on FERG shares. Wells Fargo & Company raised their target price on shares of Ferguson from $285.00 to $295.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Royal Bank Of Canada increased their price target on shares of Ferguson from $281.00 to $290.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Weiss Ratings upgraded shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Robert W. Baird lifted their price objective on Ferguson from $285.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $261.00 target price on shares of Ferguson in a report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $285.93.

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.