Savant Capital LLC Trims Position in Ferguson plc $FERG

Savant Capital LLC lessened its stake in shares of Ferguson plc (NYSE:FERG) by 94.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,070 shares of the company’s stock after selling 17,465 shares during the quarter. Savant Capital LLC’s holdings in Ferguson were worth $238,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Intech Investment Management LLC grew its holdings in Ferguson by 24.4% during the 4th quarter. Intech Investment Management LLC now owns 8,866 shares of the company’s stock valued at $1,974,000 after buying an additional 1,739 shares in the last quarter. Huntington National Bank grew its holdings in Ferguson by 10.0% during the 4th quarter. Huntington National Bank now owns 971 shares of the company’s stock valued at $216,000 after buying an additional 88 shares in the last quarter. Allstate Corp boosted its position in shares of Ferguson by 109.9% during the 4th quarter. Allstate Corp now owns 15,656 shares of the company’s stock valued at $3,485,000 after acquiring an additional 8,197 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Ferguson during the 4th quarter valued at about $1,856,000. Finally, Coldstream Capital Management Inc. boosted its position in shares of Ferguson by 55.5% during the 4th quarter. Coldstream Capital Management Inc. now owns 3,317 shares of the company’s stock valued at $738,000 after acquiring an additional 1,184 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Weiss Ratings downgraded Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Citigroup reiterated a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Royal Bank Of Canada lifted their price target on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Jefferies Financial Group reiterated a “buy” rating and set a $300.00 price target on shares of Ferguson in a research report on Tuesday, February 24th. Finally, Barclays lifted their price target on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $273.64.

Ferguson Stock Performance

NYSE:FERG opened at $229.14 on Monday. The business has a 50 day moving average of $241.02 and a 200 day moving average of $241.37. The company has a market capitalization of $44.44 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 1.63 and a beta of 1.15. 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 released its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. The company 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 business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.50 EPS. On average, sell-side analysts predict that Ferguson plc will post 11.26 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th will be given a $0.89 dividend. The ex-dividend date is Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a yield of 1.6%. Ferguson’s payout ratio is presently 41.40%.

Ferguson announced that its board has authorized a share buyback program on Tuesday, May 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is 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.