HighTower Advisors LLC Raises Holdings in Ferguson plc $FERG

HighTower Advisors LLC boosted its holdings in shares of Ferguson plc (NYSE:FERG) by 37.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,473 shares of the company’s stock after acquiring an additional 5,840 shares during the quarter. HighTower Advisors LLC’s holdings in Ferguson were worth $4,780,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. increased its holdings in Ferguson by 36.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,620 shares of the company’s stock valued at $1,251,000 after buying an additional 1,501 shares during the period. Gambit Capital Management LLC purchased a new position in Ferguson during the fourth quarter valued at approximately $230,000. Entrust Financial LLC purchased a new position in Ferguson during the fourth quarter valued at approximately $47,000. TD Private Client Wealth LLC increased its holdings in Ferguson by 974.0% during the fourth quarter. TD Private Client Wealth LLC now owns 827 shares of the company’s stock valued at $184,000 after buying an additional 750 shares during the period. Finally, Gabelli Funds LLC increased its holdings in Ferguson by 6.7% during the fourth quarter. Gabelli Funds LLC now owns 3,200 shares of the company’s stock valued at $712,000 after buying an additional 200 shares during the period. 81.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. UBS Group lifted their price objective on shares of Ferguson from $220.00 to $252.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Truist Financial lifted their price objective on shares of Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Royal Bank Of Canada raised their target price on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Weiss Ratings downgraded shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. Finally, Wells Fargo & Company raised their target price on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Ferguson presently has a consensus rating of “Moderate Buy” and an average target price of $269.73.

Ferguson Price Performance

Shares of FERG opened at $226.58 on Friday. The company has a market cap of $43.94 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 1.63 and a beta of 1.23. Ferguson plc has a twelve month low of $177.75 and a twelve month high of $271.64. The company has a quick ratio of 1.01, a current ratio of 1.78 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average of $240.44 and a two-hundred day moving average of $242.18.

Ferguson (NYSE:FERG) last announced its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.14. The company had revenue of $7.47 billion during the quarter. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. Ferguson’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the business earned $2.50 earnings per share. As a group, analysts predict that Ferguson plc will post 11.26 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. Ferguson’s payout ratio is 41.40%.

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

Key Headlines Impacting Ferguson

Here are the key news stories impacting Ferguson this week:

• Neutral Sentiment: Recent headlines centered on Sarah Ferguson’s reported ties to a scrapped NBC talk show deal, alleged personal scandals, and biographical claims about Princess Diana; these stories are unrelated to Ferguson plc’s fundamentals and are unlikely to materially affect the stock. Sarah Ferguson’s Actions Scrapped Major NBC Talk Show Deal — Source
• Neutral Sentiment: Additional coverage about Sarah Ferguson’s “chaotic” royal household and a rumored relationship with Sean “Diddy” Combs is celebrity/royal gossip, not company-specific news for Ferguson plc. How Sarah Ferguson’s ‘chaotic’ parenting squandered her talk show dreams with NBC
• Neutral Sentiment: Other articles reference Sarah Ferguson’s relationship with Prince Andrew and past disputes with Princess Diana, which do not provide any direct operational or financial catalyst for Ferguson plc shares. Sarah Ferguson doesn’t want to leave ex-husband former Prince Andrew ‘high and dry’ after scandals, claims expert

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.