Van ECK Associates Corp Has $8.63 Million Stock Holdings in Ferguson plc $FERG

Van ECK Associates Corp trimmed its position in Ferguson plc (NYSE:FERG) by 10.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,383 shares of the company’s stock after selling 4,283 shares during the period. Van ECK Associates Corp’s holdings in Ferguson were worth $8,635,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sivia Capital Partners LLC raised its holdings in Ferguson by 2.9% during the fourth quarter. Sivia Capital Partners LLC now owns 1,685 shares of the company’s stock worth $375,000 after buying an additional 48 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Ferguson by 7.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock valued at $150,000 after buying an additional 48 shares during the last quarter. REAP Financial Group LLC grew its holdings in shares of Ferguson by 13.4% during the fourth quarter. REAP Financial Group LLC now owns 431 shares of the company’s stock valued at $96,000 after buying an additional 51 shares during the last quarter. L2 Asset Management LLC increased its position in shares of Ferguson by 5.2% during the second quarter. L2 Asset Management LLC now owns 1,109 shares of the company’s stock worth $263,000 after acquiring an additional 55 shares in the last quarter. Finally, Ethic Inc. increased its position in shares of Ferguson by 0.3% during the fourth quarter. Ethic Inc. now owns 22,802 shares of the company’s stock worth $5,076,000 after acquiring an additional 62 shares in the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Ferguson news, insider Jake Schlicher sold 5,177 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $230.92, for a total value of $1,195,472.84. Following the sale, the insider directly owned 9,490 shares in the company, valued at $2,191,430.80. The trade was a 35.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.15% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Oppenheimer upped their target price on shares of Ferguson from $280.00 to $288.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Robert W. Baird boosted their price objective on Ferguson from $285.00 to $288.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Royal Bank Of Canada increased their price objective on Ferguson from $281.00 to $290.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Zelman & Associates upgraded Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 target price on the stock in a report on Friday, July 17th. Finally, Wells Fargo & Company lifted their target price on Ferguson from $285.00 to $295.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Ferguson currently has an average rating of “Moderate Buy” and an average price target of $285.93.

Ferguson Stock Down 2.4%

Ferguson stock opened at $219.09 on Wednesday. Ferguson plc has a twelve month low of $207.64 and a twelve month high of $271.64. The firm has a 50 day moving average price of $236.37 and a 200-day moving average price of $238.86. The company has a market capitalization of $42.38 billion, a P/E ratio of 25.75, a P/E/G ratio of 1.56 and a beta of 1.13. The company has a quick ratio of 0.93, a current ratio of 1.73 and a debt-to-equity ratio of 0.72.

Ferguson (NYSE:FERG) last posted its quarterly 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. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. The company had revenue of $8.75 billion for the quarter. As a group, equities analysts predict that Ferguson plc will post 11.42 EPS for the current year.

Ferguson announced that its Board of Directors has initiated a share buyback 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 generally a sign that the company’s board believes its stock is undervalued.

Ferguson Announces Dividend

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

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.