Auxier Asset Management Decreases Stock Position in Ferguson plc (NASDAQ:FERG)

Auxier Asset Management cut its stake in Ferguson plc (NASDAQ:FERG) by 47.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,050 shares of the company’s stock after selling 950 shares during the quarter. Auxier Asset Management’s holdings in Ferguson were worth $203,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of FERG. Bank of New York Mellon Corp grew its stake in shares of Ferguson by 375.4% during the second quarter. Bank of New York Mellon Corp now owns 6,289,864 shares of the company’s stock valued at $1,218,032,000 after buying an additional 4,966,821 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Ferguson by 589.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,619,637 shares of the company’s stock worth $353,778,000 after purchasing an additional 1,384,570 shares during the period. Capital World Investors bought a new stake in shares of Ferguson during the first quarter worth $104,723,000. APG Asset Management US Inc. purchased a new stake in shares of Ferguson during the fourth quarter valued at $89,758,000. Finally, Robeco Schweiz AG purchased a new position in Ferguson in the 4th quarter worth about $61,782,000. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Trading Down 5.6 %

Shares of NASDAQ:FERG opened at $196.52 on Friday. The business’s 50-day moving average is $204.88 and its 200 day moving average is $206.95. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94. Ferguson plc has a 1 year low of $147.62 and a 1 year high of $225.63. The firm has a market capitalization of $39.69 billion, a P/E ratio of 21.48, a P/E/G ratio of 6.13 and a beta of 1.21.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.12. The firm had revenue of $7.95 billion for the quarter, compared to the consensus estimate of $8.01 billion. Ferguson had a net margin of 6.33% and a return on equity of 36.89%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.77 earnings per share. On average, research analysts predict that Ferguson plc will post 9.63 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Friday, September 27th. Ferguson’s dividend payout ratio (DPR) is presently 34.54%.

Ferguson announced that its Board of Directors has approved a share buyback program on Tuesday, June 4th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have recently commented on FERG. Jefferies Financial Group raised their target price on shares of Ferguson from $238.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Royal Bank of Canada increased their price target on Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a research report on Wednesday. UBS Group increased their target price on shares of Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup boosted their price target on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Wells Fargo & Company reduced their price objective on shares of Ferguson from $250.00 to $225.00 and set an “overweight” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Ferguson has a consensus rating of “Moderate Buy” and an average target price of $231.57.

About Ferguson

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.