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

Auxier Asset Management reduced its holdings in Ferguson plc (NASDAQ:FERG) by 47.5% during the 2nd quarter, Holdings Channel reports. The fund owned 1,050 shares of the company’s stock after selling 950 shares during the period. Auxier Asset Management’s holdings in Ferguson were worth $203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FERG. Richardson Financial Services Inc. acquired a new position in shares of Ferguson in the 4th quarter valued at $25,000. EdgeRock Capital LLC acquired a new position in shares of Ferguson in the second quarter worth about $32,000. MCF Advisors LLC purchased a new stake in shares of Ferguson during the 1st quarter worth about $47,000. Brown Brothers Harriman & Co. grew its position in shares of Ferguson by 538.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 402 shares of the company’s stock valued at $78,000 after acquiring an additional 339 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of Ferguson by 2,462.5% in the 2nd quarter. Versant Capital Management Inc now owns 410 shares of the company’s stock valued at $79,000 after purchasing an additional 394 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

FERG opened at $196.52 on Friday. Ferguson plc has a twelve month low of $147.62 and a twelve month high of $225.63. The firm has a market capitalization of $39.69 billion, a PE ratio of 21.48, a PEG ratio of 6.13 and a beta of 1.21. The company has a current ratio of 1.68, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64. The firm’s 50-day moving average price is $204.88 and its 200 day moving average price is $206.95.

Ferguson (NASDAQ:FERG) last issued its earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.12. The business had revenue of $7.95 billion for the quarter, compared to analysts’ expectations of $8.01 billion. Ferguson had a return on equity of 36.89% and a net margin of 6.33%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.77 EPS. As a group, sell-side analysts expect that Ferguson plc will post 9.63 EPS for the current fiscal year.

Ferguson Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, September 27th. This represents a $3.16 annualized dividend and a dividend yield of 1.61%. Ferguson’s dividend payout ratio is presently 34.54%.

Ferguson declared that its Board of Directors has approved a share repurchase program on Tuesday, June 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 2.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FERG. 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. Barclays lifted their price target on shares of Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday. Jefferies Financial Group upped their price objective 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. Citigroup lifted their target price on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Wells Fargo & Company reduced their price target on shares of Ferguson from $250.00 to $225.00 and set an “overweight” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Ferguson presently has an average rating of “Moderate Buy” and an average price target of $231.57.

Ferguson Company Profile

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.