Inspire Trust Co. N.A. Has $6.46 Million Stock Holdings in Ferguson plc $FERG

Inspire Trust Co. N.A. raised its holdings in Ferguson plc (NYSE:FERG) by 16.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,000 shares of the company’s stock after acquiring an additional 4,000 shares during the quarter. Ferguson comprises approximately 1.1% of Inspire Trust Co. N.A.’s holdings, making the stock its 28th largest position. Inspire Trust Co. N.A.’s holdings in Ferguson were worth $6,456,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Atria Investments Inc increased its position in Ferguson by 38.2% during the third quarter. Atria Investments Inc now owns 15,401 shares of the company’s stock worth $3,459,000 after acquiring an additional 4,259 shares during the period. Kinetic Partners Management LP increased its position in Ferguson by 53.4% during the third quarter. Kinetic Partners Management LP now owns 349,000 shares of the company’s stock worth $78,378,000 after acquiring an additional 121,500 shares during the period. C WorldWide Group Holding A S increased its position in Ferguson by 108.8% during the third quarter. C WorldWide Group Holding A S now owns 535,363 shares of the company’s stock worth $120,232,000 after acquiring an additional 278,971 shares during the period. Allianz Asset Management GmbH increased its position in Ferguson by 21.0% during the third quarter. Allianz Asset Management GmbH now owns 322,924 shares of the company’s stock worth $72,522,000 after acquiring an additional 55,981 shares during the period. Finally, Cibc World Market Inc. increased its position in Ferguson by 79.6% during the third quarter. Cibc World Market Inc. now owns 12,328 shares of the company’s stock worth $2,769,000 after acquiring an additional 5,463 shares during the period. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Stock Down 1.4%

FERG opened at $226.58 on Friday. Ferguson plc has a fifty-two week low of $177.75 and a fifty-two week high of $271.64. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 1.01. The firm’s fifty day moving average price is $240.44 and its two-hundred day moving average price is $242.18. The company has a market capitalization of $43.94 billion, a P/E ratio of 26.35, a P/E/G ratio of 1.63 and a beta of 1.23.

Ferguson (NYSE:FERG) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The firm had revenue of $7.47 billion for the quarter. During the same quarter in the prior year, the firm earned $2.50 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. On average, analysts anticipate that Ferguson plc will post 11.26 EPS for the current year.

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

Ferguson Dividend Announcement

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

Key Stories 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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FERG. Wells Fargo & Company boosted their target price on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Oppenheimer boosted their target price on shares of Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. UBS Group boosted their target price on shares of Ferguson from $220.00 to $252.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Jefferies Financial Group reaffirmed a “buy” rating and set a $300.00 target price on shares of Ferguson in a research report on Tuesday, February 24th. Finally, Royal Bank Of Canada boosted their target price on shares of Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.73.

About Ferguson

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.