Caisse de depot et placement du Quebec Sells 132,746 Shares of Ferguson plc $FERG

Caisse de depot et placement du Quebec reduced its holdings in shares of Ferguson plc (NYSE:FERG) by 90.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 13,861 shares of the company’s stock after selling 132,746 shares during the quarter. Caisse de depot et placement du Quebec’s holdings in Ferguson were worth $3,290,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Leonteq Securities AG purchased a new stake in shares of Ferguson during the fourth quarter worth $26,000. Basepoint Wealth LLC purchased a new position in Ferguson during the 4th quarter valued at about $26,000. Compass Financial Management LLC bought a new stake in shares of Ferguson during the second quarter valued at about $32,000. Zions Bancorporation National Association UT lifted its holdings in shares of Ferguson by 123.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock worth $32,000 after buying an additional 79 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new position in shares of Ferguson in the third quarter valued at approximately $34,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $261.00 target price on shares of Ferguson in a research note on Tuesday, August 18th. Robert W. Baird upped their price target on shares of Ferguson from $285.00 to $288.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Barclays lifted their price objective on Ferguson from $297.00 to $313.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. UBS Group upped their target price on Ferguson from $252.00 to $256.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Finally, Zelman & Associates raised Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price target on the stock in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $285.93.

Ferguson Price Performance

Shares of Ferguson stock opened at $228.52 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.73. Ferguson plc has a 52-week low of $207.64 and a 52-week high of $271.64. The company has a fifty day moving average of $236.93 and a 200-day moving average of $239.63. The stock has a market capitalization of $44.21 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 1.59 and a beta of 1.14.

Ferguson (NYSE:FERG) last issued its earnings results on Monday, August 10th. The company reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.16. The company had revenue of $8.75 billion for the quarter. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. Equities research analysts expect that Ferguson plc will post 11.42 EPS for the current year.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Friday, August 21st will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 21st. Ferguson’s dividend payout ratio (DPR) is 41.83%.

Ferguson announced that its board has authorized a share repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in 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 an indication that the company’s management believes its stock is undervalued.

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.