Raiffeisen Bank International AG Has $116.38 Million Stock Position in Ferguson plc $FERG

Raiffeisen Bank International AG increased its position in shares of Ferguson plc (NYSE:FERG) by 350,745.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 522,759 shares of the company’s stock after purchasing an additional 522,610 shares during the period. Ferguson makes up about 1.5% of Raiffeisen Bank International AG’s portfolio, making the stock its 10th biggest position. Raiffeisen Bank International AG’s holdings in Ferguson were worth $116,382,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FERG. Leonteq Securities AG purchased a new position in shares of Ferguson during the fourth quarter valued at $26,000. Basepoint Wealth LLC purchased a new position in Ferguson in the fourth quarter valued at about $26,000. Central Pacific Bank Trust Division bought a new position in Ferguson in the fourth quarter worth about $27,000. Strategic Investment Solutions Inc. IL bought a new position in Ferguson in the third quarter worth about $28,000. Finally, Grove Bank & Trust raised its holdings in Ferguson by 154.4% in the fourth quarter. Grove Bank & Trust now owns 145 shares of the company’s stock worth $32,000 after purchasing an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Up 1.3%

NYSE FERG opened at $227.40 on Friday. The business has a fifty day moving average price of $241.17 and a 200 day moving average price of $241.15. Ferguson plc has a one year low of $207.64 and a one year high of $271.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78. The company has a market cap of $44.10 billion, a P/E ratio of 26.44, a P/E/G ratio of 1.59 and a beta of 1.15.

Ferguson (NYSE:FERG) last issued its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.50 earnings per share. Research analysts anticipate that Ferguson plc will post 11.26 EPS for the current fiscal year.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, May 15th. Ferguson’s dividend payout ratio is 41.40%.

Ferguson announced that its board has initiated a share repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

FERG has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a “buy” rating and issued a $300.00 target price on shares of Ferguson in a report on Tuesday, February 24th. Oppenheimer boosted their price target on Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Truist Financial boosted their price target on Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Wells Fargo & Company boosted their price target on Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada boosted their price target on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Two equities 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $277.77.

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.