Ferguson plc $FERG Stock Position Decreased by Socorro Asset Management LP

Socorro Asset Management LP decreased its holdings in shares of Ferguson plc (NYSE:FERG) by 7.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,091 shares of the company’s stock after selling 2,416 shares during the quarter. Ferguson makes up approximately 3.0% of Socorro Asset Management LP’s holdings, making the stock its 20th biggest holding. Socorro Asset Management LP’s holdings in Ferguson were worth $6,553,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Leonteq Securities AG bought a new stake in shares of Ferguson in the 4th quarter worth approximately $26,000. Basepoint Wealth LLC bought a new position in Ferguson during the 4th quarter worth $26,000. Zions Bancorporation National Association UT grew its stake in Ferguson by 123.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock worth $32,000 after buying an additional 79 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in Ferguson in the third quarter worth $34,000. Finally, Cornerstone Planning Group LLC lifted its stake in Ferguson by 53.9% in the fourth quarter. Cornerstone Planning Group LLC now owns 197 shares of the company’s stock valued at $44,000 after buying an additional 69 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

NYSE FERG opened at $233.79 on Tuesday. The company has a fifty day moving average of $230.08 and a two-hundred day moving average of $240.59. The company has a market capitalization of $45.34 billion, a PE ratio of 27.19, a P/E/G ratio of 1.63 and a beta of 1.13. Ferguson plc has a 1 year low of $207.64 and a 1 year high of $271.64. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96.

Ferguson (NYSE:FERG) last posted its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.14. The business had revenue of $7.47 billion during the quarter. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.50 earnings per share. As a group, analysts expect that Ferguson plc will post 11.3 earnings per share for the current year.

Ferguson announced that its Board of Directors has authorized a share buyback program on Tuesday, May 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th were given a dividend of $0.89 per share. The ex-dividend date was Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.5%. Ferguson’s dividend payout ratio (DPR) is 41.40%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FERG shares. Zelman & Associates raised shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price target for the company in a report on Friday, July 17th. The Goldman Sachs Group downgraded shares of Ferguson from a “buy” rating to a “neutral” rating and cut their price objective for the company from $315.00 to $265.00 in a research report on Monday, July 6th. Citigroup reissued a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Barclays raised their price target 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. Finally, Weiss Ratings raised Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Ferguson currently has an average rating of “Moderate Buy” and a consensus price target of $277.21.

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.