iA Global Asset Management Inc. Makes New $1.81 Million Investment in Ferguson plc $FERG

iA Global Asset Management Inc. purchased a new position in shares of Ferguson plc (NYSE:FERG) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,774 shares of the company’s stock, valued at approximately $1,813,000.

A number of other institutional investors have also modified their holdings of the company. Leonteq Securities AG purchased a new stake in shares of Ferguson in the 4th quarter valued at $26,000. Basepoint Wealth LLC purchased a new position in Ferguson during the 4th quarter valued at about $26,000. Central Pacific Bank Trust Division purchased a new position in Ferguson during the 4th quarter valued at about $27,000. Strategic Investment Solutions Inc. IL acquired a new position in Ferguson in the 3rd quarter valued at about $28,000. Finally, Grove Bank & Trust grew its position 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 acquiring an additional 88 shares in the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on FERG shares. Barclays boosted their price target on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Royal Bank Of Canada lifted their price objective on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Wells Fargo & Company lifted their price objective on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Finally, Weiss Ratings cut shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.58.

Ferguson Stock Up 0.4%

Ferguson stock opened at $230.22 on Friday. The stock has a market cap of $44.65 billion, a PE ratio of 26.77, a P/E/G ratio of 1.62 and a beta of 1.13. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96. The stock’s fifty day moving average is $236.50 and its two-hundred day moving average is $240.27. Ferguson plc has a 1-year low of $207.64 and a 1-year high of $271.64.

Ferguson (NYSE:FERG) last released its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.14. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The business had revenue of $7.47 billion during the quarter. During the same period in the prior year, the company posted $2.50 earnings per share. The company’s revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts expect that Ferguson plc will post 11.26 EPS for the current fiscal year.

Ferguson Dividend Announcement

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

Ferguson announced that its board has authorized a share repurchase program on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are 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.