Ferguson plc $FERG Shares Purchased by Fox Run Management L.L.C.

Fox Run Management L.L.C. boosted its holdings in Ferguson plc (NYSE:FERG) by 80.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,118 shares of the company’s stock after buying an additional 2,729 shares during the period. Fox Run Management L.L.C.’s holdings in Ferguson were worth $1,362,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of FERG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Ferguson by 23.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock valued at $2,445,000 after purchasing an additional 2,940 shares in the last quarter. Caxton Associates LLP acquired a new position in Ferguson during the 1st quarter worth approximately $310,000. Focus Partners Wealth lifted its position in Ferguson by 22.7% during the 1st quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock worth $503,000 after acquiring an additional 581 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Ferguson during the 2nd quarter worth approximately $257,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Ferguson by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock worth $150,000 after acquiring an additional 48 shares in the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Price Performance

Shares of NYSE FERG opened at $234.62 on Wednesday. Ferguson plc has a twelve month low of $207.64 and a twelve month high of $271.64. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $45.50 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 1.59 and a beta of 1.15. The business has a 50 day simple moving average of $241.26 and a 200-day simple moving average of $241.27.

Ferguson (NYSE:FERG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.14. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The business had revenue of $7.47 billion during the quarter. During the same quarter last year, the firm posted $2.50 earnings per share. Ferguson’s revenue was up 3.6% compared to the same quarter last year. As a group, equities research analysts expect that Ferguson plc will post 11.26 earnings per share for the current year.

Ferguson announced that its Board of Directors has authorized a share buyback plan on Tuesday, May 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, May 15th. Ferguson’s payout ratio is 41.40%.

Analyst Ratings Changes

Several equities research analysts have issued reports on FERG shares. Jefferies Financial Group restated a “buy” rating and set a $300.00 price objective on shares of Ferguson in a report on Tuesday, February 24th. Oppenheimer lifted their price objective on Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Wells Fargo & Company lifted their price objective on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Truist Financial lifted their price objective on Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Finally, Weiss Ratings downgraded Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ferguson has an average rating of “Moderate Buy” and an average price target of $277.77.

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.