Moore Capital Management LP Makes New $37.79 Million Investment in Ferguson plc $FERG

Moore Capital Management LP acquired a new stake in Ferguson plc (NYSE:FERG) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 169,756 shares of the company’s stock, valued at approximately $37,793,000. Ferguson accounts for 0.5% of Moore Capital Management LP’s portfolio, making the stock its 23rd biggest holding. Moore Capital Management LP owned about 0.09% of Ferguson at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Raiffeisen Bank International AG boosted its position in shares of Ferguson by 350,745.0% in the fourth quarter. Raiffeisen Bank International AG now owns 522,759 shares of the company’s stock valued at $116,382,000 after acquiring an additional 522,610 shares during the period. Kinetic Partners Management LP boosted its position in shares of Ferguson by 53.4% in the third quarter. Kinetic Partners Management LP now owns 349,000 shares of the company’s stock valued at $78,378,000 after acquiring an additional 121,500 shares during the period. Marsico Capital Management LLC bought a new position in shares of Ferguson in the fourth quarter valued at approximately $11,017,000. Clifford Swan Investment Counsel LLC boosted its position in shares of Ferguson by 3.0% in the third quarter. Clifford Swan Investment Counsel LLC now owns 74,900 shares of the company’s stock valued at $16,821,000 after acquiring an additional 2,208 shares during the period. Finally, Fieldview Capital Management LLC bought a new position in shares of Ferguson in the third quarter valued at approximately $3,258,000. 81.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FERG shares. Truist Financial raised their price objective on shares of Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Jefferies Financial Group reissued a “buy” rating and issued a $300.00 price target on shares of Ferguson in a research note on Tuesday, February 24th. UBS Group boosted their price target on shares of Ferguson from $220.00 to $252.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Citigroup reissued a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Finally, Weiss Ratings cut shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $277.58.

Ferguson Price Performance

FERG stock opened at $230.14 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96. Ferguson plc has a one year low of $207.64 and a one year high of $271.64. The stock has a market cap of $44.63 billion, a PE ratio of 26.76, a P/E/G ratio of 1.66 and a beta of 1.15. The firm has a 50 day simple moving average of $240.81 and a two-hundred day simple moving average of $240.70.

Ferguson (NYSE:FERG) last announced its quarterly earnings data 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. The firm 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%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.50 earnings per share. On average, analysts predict that Ferguson plc will post 11.26 EPS for the current fiscal year.

Ferguson Dividend Announcement

The firm 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 $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 presently 41.40%.

Ferguson announced that its Board of Directors has authorized a share buyback program on Tuesday, May 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

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.