Diamond Hill Capital Management Inc. Has $346.28 Million Position in Ferguson plc $FERG

Diamond Hill Capital Management Inc. lowered its stake in Ferguson plc (NYSE:FERG) by 28.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,541,877 shares of the company’s stock after selling 620,941 shares during the quarter. Ferguson makes up approximately 1.6% of Diamond Hill Capital Management Inc.’s investment portfolio, making the stock its 24th largest position. Diamond Hill Capital Management Inc. owned approximately 0.79% of Ferguson worth $346,275,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FERG. True Wealth Design LLC increased its holdings in Ferguson by 145.3% during the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock worth $28,000 after buying an additional 77 shares during the last quarter. Cornerstone Planning Group LLC grew its position in shares of Ferguson by 178.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock valued at $31,000 after acquiring an additional 82 shares during the period. Hemington Wealth Management increased its stake in shares of Ferguson by 51.5% during the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company’s stock worth $33,000 after purchasing an additional 52 shares during the last quarter. Quent Capital LLC bought a new stake in shares of Ferguson in the 3rd quarter valued at about $43,000. Finally, Harbour Investments Inc. lifted its stake in Ferguson by 61.3% in the 2nd quarter. Harbour Investments Inc. now owns 242 shares of the company’s stock valued at $53,000 after purchasing an additional 92 shares during the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Trading Up 3.1%

Shares of NYSE:FERG opened at $262.77 on Friday. The company has a market capitalization of $51.38 billion, a P/E ratio of 26.54, a P/E/G ratio of 2.18 and a beta of 1.18. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01. The business’s 50 day simple moving average is $239.73 and its 200 day simple moving average is $236.36. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $263.34.

Ferguson (NYSE:FERG) last posted its quarterly earnings results on Tuesday, December 9th. The company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.07. The business had revenue of $8.17 billion during the quarter. Ferguson had a return on equity of 35.73% and a net margin of 6.28%.The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $2.45 EPS.

Ferguson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, January 2nd will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.4%. This is a positive change from Ferguson’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Friday, January 2nd. Ferguson’s payout ratio is 35.96%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Ferguson in a research note on Thursday, January 22nd. Vertical Research initiated coverage on Ferguson in a report on Monday, October 20th. They set a “buy” rating and a $291.99 price target for the company. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferguson in a research report on Friday, January 9th. Barclays increased their price objective on shares of Ferguson from $267.00 to $278.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Ferguson from $237.00 to $246.00 and gave the company a “hold” rating in a research note on Thursday, December 11th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ferguson currently has an average rating of “Moderate Buy” and a consensus target price of $253.00.

Key Headlines Impacting Ferguson

Here are the key news stories impacting Ferguson this week:

• Neutral Sentiment: Celebrity interviews and human-interest items about Rebecca Ferguson — entertainment coverage with no connection to Ferguson plc; negligible impact on the stock. Rebecca Ferguson opens up
• Neutral Sentiment: Reporting on Rebecca Ferguson describing an on-set incident — celebrity press, no corporate relevance to FERG. Rebecca Ferguson on on-set incident
• Neutral Sentiment: Local reporting that the city of Ferguson is seeing a downward trend in crime — municipal news, not related to the UK/US industrial distributor Ferguson plc. Ferguson facing downward trend in crime
• Negative Sentiment: Multiple tabloid/coverage items concerning Sarah Ferguson and recent Epstein-file revelations — these stories could generate short-term name-recognition noise or media confusion for investors seeing the “Ferguson” name, but they do not relate to Ferguson plc’s operations, earnings or financial outlook. Expect negligible fundamental impact unless headlines cause measurable brand confusion in investor communications. PR expert says this move would be “career suicide” Sarah Ferguson has a ‘housing crisis’ Sarah Ferguson Done Protecting Ex-Prince Andrew Key revelations about Sarah Ferguson in Epstein files

Ferguson Company 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.