First Trust Advisors LP Has $87.46 Million Stock Holdings in Ferguson plc $FERG

First Trust Advisors LP decreased its holdings in shares of Ferguson plc (NYSE:FERG) by 12.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 374,941 shares of the company’s stock after selling 53,363 shares during the period. First Trust Advisors LP owned approximately 0.19% of Ferguson worth $87,459,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Basepoint Wealth LLC bought a new stake in Ferguson in the fourth quarter valued at about $26,000. Leonteq Securities AG acquired a new position in shares of Ferguson during the 4th quarter worth about $26,000. Zions Bancorporation National Association UT grew its position in shares of Ferguson by 123.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock worth $32,000 after buying an additional 79 shares during the period. Johnson Financial Group Inc. bought a new stake in shares of Ferguson in the 3rd quarter valued at about $34,000. Finally, Cornerstone Planning Group LLC increased its stake in shares of Ferguson by 53.9% in the 4th quarter. Cornerstone Planning Group LLC now owns 197 shares of the company’s stock valued at $44,000 after acquiring an additional 69 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on FERG shares. Royal Bank Of Canada lifted their price objective on shares of Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group lowered shares of Ferguson from a “buy” rating to a “neutral” rating and cut their target price for the stock from $315.00 to $265.00 in a report on Monday, July 6th. Wells Fargo & Company lifted their price target on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Barclays boosted their price target on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, Zelman & Associates upgraded shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price objective for the company in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $277.21.

Ferguson Stock Performance

Shares of FERG opened at $230.36 on Friday. The firm has a market cap of $44.68 billion, a P/E ratio of 26.79, a PEG ratio of 1.61 and a beta of 1.13. Ferguson plc has a twelve month low of $207.64 and a twelve month 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 firm’s 50 day moving average price is $229.80 and its two-hundred day moving average price is $240.45.

Ferguson (NYSE:FERG) last issued 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 net margin of 6.98% and a return on equity of 38.81%. The company had revenue of $7.47 billion during the quarter. During the same period in the prior year, the company earned $2.50 EPS. The firm’s revenue was up 3.6% on a year-over-year basis. On average, analysts forecast that Ferguson plc will post 11.3 EPS for the current fiscal year.

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th were issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, May 15th. Ferguson’s dividend payout ratio is 41.40%.

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

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.