VIRGINIA RETIREMENT SYSTEMS ET Al Acquires 6,500 Shares of Ferguson plc $FERG

VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in Ferguson plc (NYSE:FERG) by 19.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 39,800 shares of the company’s stock after purchasing an additional 6,500 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Ferguson were worth $8,861,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division purchased a new stake in Ferguson in the 4th quarter valued at about $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in Ferguson in the 3rd quarter valued at about $28,000. Cornerstone Planning Group LLC increased its stake in Ferguson by 178.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock valued at $31,000 after buying an additional 82 shares during the last quarter. Grove Bank & Trust increased its stake in Ferguson by 154.4% in the 4th quarter. Grove Bank & Trust now owns 145 shares of the company’s stock valued at $32,000 after buying an additional 88 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new stake in Ferguson in the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Down 1.9%

FERG opened at $233.68 on Thursday. The company has a 50 day moving average of $241.87 and a 200 day moving average of $243.98. The company has a market cap of $45.32 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 1.69 and a beta of 1.23. Ferguson plc has a 12 month low of $174.99 and a 12 month high of $271.64. The company has a current ratio of 1.88, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68.

Ferguson (NYSE:FERG) last released its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.14 by $0.14. The company had revenue of $7.47 billion during the quarter. Ferguson had a net margin of 6.98% and a return on equity of 38.92%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the business posted $2.50 earnings per share. On average, sell-side analysts expect that Ferguson plc will post 11.23 EPS for the current year.

Ferguson declared that its Board of Directors has approved a stock buyback plan on Tuesday, May 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Ferguson Announces Dividend

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

Analyst Upgrades and Downgrades

FERG has been the subject of several analyst reports. Wells Fargo & Company increased their price objective on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Jefferies Financial Group reiterated a “buy” rating and issued a $300.00 price objective on shares of Ferguson in a research note on Tuesday, February 24th. Truist Financial increased their price objective on shares of Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. UBS Group increased their price objective on shares of Ferguson from $220.00 to $252.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Finally, Barclays increased their price objective 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. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.73.

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.