Argent Capital Management LLC Sells 4,833 Shares of Ferguson plc $FERG

Argent Capital Management LLC lowered its position in shares of Ferguson plc (NYSE:FERG) by 3.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 146,575 shares of the company’s stock after selling 4,833 shares during the period. Ferguson comprises about 1.1% of Argent Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding. Argent Capital Management LLC’s holdings in Ferguson were worth $34,190,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of FERG. Leonteq Securities AG purchased a new stake in Ferguson in the 4th quarter worth approximately $26,000. Basepoint Wealth LLC purchased a new position in shares of Ferguson during the fourth quarter valued at approximately $26,000. Zions Bancorporation National Association UT raised its holdings in shares of Ferguson by 123.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after acquiring an additional 79 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in Ferguson in the third quarter worth $34,000. Finally, Cornerstone Planning Group LLC lifted its stake in Ferguson by 53.9% in the fourth quarter. Cornerstone Planning Group LLC now owns 197 shares of the company’s stock worth $44,000 after acquiring an additional 69 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Zelman & Associates raised shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price objective on the stock in a research report on Friday, July 17th. Royal Bank Of Canada raised their target price on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Citigroup reiterated a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Wells Fargo & Company raised their price objective on Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $277.21.

Ferguson Trading Up 3.6%

Ferguson stock opened at $234.49 on Friday. Ferguson plc has a 12 month low of $207.64 and a 12 month high of $271.64. The company has a market capitalization of $45.48 billion, a price-to-earnings ratio of 27.27, a price-to-earnings-growth ratio of 1.60 and a beta of 1.13. The business’s fifty day simple moving average is $230.62 and its two-hundred day simple moving average is $240.52. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68.

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 the consensus estimate of $2.14 by $0.14. The firm had revenue of $7.47 billion during the quarter. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.Ferguson’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.50 earnings per share. As a group, equities analysts predict that Ferguson plc will post 11.25 earnings per share for the current fiscal year.

Ferguson declared that its Board of Directors has initiated a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Ferguson 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.