Ferguson plc $FERG Shares Sold by Madison Asset Management LLC

Madison Asset Management LLC trimmed its stake in Ferguson plc (NYSE:FERG) by 4.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 355,611 shares of the company’s stock after selling 17,686 shares during the period. Ferguson accounts for approximately 1.0% of Madison Asset Management LLC’s portfolio, making the stock its 28th biggest position. Madison Asset Management LLC’s holdings in Ferguson were worth $84,397,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raiffeisen Bank International AG grew its position in shares of Ferguson by 350,745.0% in 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 last quarter. Marsico Capital Management LLC acquired a new position in shares of Ferguson during the 4th quarter worth approximately $11,017,000. Lmcg Investments LLC purchased a new stake in Ferguson in the 1st quarter valued at approximately $1,806,000. D.A. Davidson & CO. lifted its stake in Ferguson by 89.6% in the 4th quarter. D.A. Davidson & CO. now owns 30,983 shares of the company’s stock valued at $6,898,000 after buying an additional 14,644 shares in the last quarter. Finally, Forsta AP Fonden grew its holdings in Ferguson by 63.8% during the 4th quarter. Forsta AP Fonden now owns 71,900 shares of the company’s stock valued at $16,007,000 after buying an additional 28,000 shares during the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Price Performance

FERG stock opened at $243.44 on Thursday. The company has a market cap of $47.09 billion, a PE ratio of 28.31, a price-to-earnings-growth ratio of 1.71 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 stock has a 50-day moving average price of $236.69 and a two-hundred day moving average price of $240.57. Ferguson plc has a 12-month low of $207.64 and a 12-month high of $271.64.

Ferguson (NYSE:FERG) last issued its earnings results on Monday, August 10th. The company reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.16. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. The business had revenue of $8.75 billion for the quarter. As a group, research analysts predict that Ferguson plc will post 11.39 EPS for the current year.

Ferguson declared that its board has approved a share buyback plan on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Friday, August 21st will be issued a $0.89 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. Ferguson’s dividend payout ratio is currently 41.40%.

Wall Street Analysts Forecast Growth

FERG has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $261.00 price objective on shares of Ferguson in a research report on Tuesday. Citigroup restated a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Oppenheimer raised their price target on shares of Ferguson from $280.00 to $288.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. UBS Group lifted their price target on shares of Ferguson from $252.00 to $256.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Finally, Robert W. Baird boosted their price objective on shares of Ferguson from $285.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.