Ferguson plc $FERG Stake Lifted by Fox Run Management L.L.C.

Fox Run Management L.L.C. increased its stake in shares of Ferguson plc (NYSE:FERG) by 80.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,118 shares of the company’s stock after buying an additional 2,729 shares during the quarter. Fox Run Management L.L.C.’s holdings in Ferguson were worth $1,362,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FERG. Leonteq Securities AG bought a new position in Ferguson during the 4th quarter worth $26,000. Basepoint Wealth LLC bought a new position in Ferguson during the 4th quarter worth $26,000. Central Pacific Bank Trust Division bought a new position in Ferguson during the 4th quarter worth $27,000. Strategic Investment Solutions Inc. IL bought a new position in Ferguson during the 3rd quarter worth $28,000. Finally, Grove Bank & Trust grew its stake in Ferguson by 154.4% during the 4th quarter. Grove Bank & Trust now owns 145 shares of the company’s stock worth $32,000 after buying an additional 88 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors.

Ferguson Trading Up 4.6%

Shares of FERG stock opened at $234.62 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78. Ferguson plc has a 1 year low of $207.64 and a 1 year high of $271.64. The stock has a fifty day moving average of $241.26 and a two-hundred day moving average of $241.27. The firm has a market capitalization of $45.50 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 1.59 and a beta of 1.15.

Ferguson (NYSE:FERG) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, topping 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 company had revenue of $7.47 billion during the quarter. During the same quarter last year, the firm posted $2.50 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. As a group, research analysts expect that Ferguson plc will post 11.26 EPS for the current year.

Ferguson Announces Dividend

The company 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. The ex-dividend date is Friday, May 15th. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. Ferguson’s dividend payout ratio is 41.40%.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FERG shares. UBS Group upped their price objective on Ferguson from $220.00 to $252.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Weiss Ratings lowered Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Truist Financial boosted their price target on Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Royal Bank Of Canada boosted their price target on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Finally, Oppenheimer boosted their price target on Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Ferguson has an average rating of “Moderate Buy” and an average target price of $277.77.

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.