OP Asset Management Ltd Purchases Shares of 39,376 Ferguson plc $FERG

OP Asset Management Ltd purchased a new position in Ferguson plc (NYSE:FERG) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 39,376 shares of the company’s stock, valued at approximately $9,185,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raiffeisen Bank International AG increased its position in shares of Ferguson by 350,745.0% during the fourth 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. Kinetic Partners Management LP lifted its position in Ferguson by 53.4% in the third quarter. Kinetic Partners Management LP now owns 349,000 shares of the company’s stock worth $78,378,000 after purchasing an additional 121,500 shares during the period. Marsico Capital Management LLC acquired a new stake in Ferguson during the fourth quarter worth $11,017,000. Clifford Swan Investment Counsel LLC boosted its stake in Ferguson by 3.0% during the third quarter. Clifford Swan Investment Counsel LLC now owns 74,900 shares of the company’s stock worth $16,821,000 after buying an additional 2,208 shares in the last quarter. Finally, Fieldview Capital Management LLC bought a new stake in Ferguson in the 3rd quarter valued at $3,258,000. Institutional investors own 81.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FERG. Citigroup restated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Weiss Ratings cut shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. Wells Fargo & Company raised their price target 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. Royal Bank Of Canada lifted their price objective on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Finally, Barclays increased their target price on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ferguson has an average rating of “Moderate Buy” and a consensus target price of $277.58.

Ferguson Stock Up 1.8%

Shares of NYSE:FERG opened at $240.83 on Friday. The company’s fifty day moving average is $239.08 and its 200-day moving average is $240.15. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78. Ferguson plc has a 52 week low of $207.64 and a 52 week high of $271.64. The company has a market capitalization of $46.71 billion, a PE ratio of 28.00, a P/E/G ratio of 1.68 and a beta of 1.15.

Ferguson (NYSE:FERG) last announced its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (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 38.81%. The business had revenue of $7.47 billion during the quarter. During the same quarter last year, the business earned $2.50 EPS. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities research analysts predict that Ferguson plc will post 11.26 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. Ferguson’s dividend payout ratio (DPR) is presently 41.40%.

Ferguson declared that its Board of Directors has approved a stock 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 repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.