Mariner Investment Group LLC Has $1.34 Million Holdings in Ferguson plc $FERG

Mariner Investment Group LLC trimmed its holdings in Ferguson plc (NYSE:FERG) by 91.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,000 shares of the company’s stock after selling 64,000 shares during the period. Mariner Investment Group LLC’s holdings in Ferguson were worth $1,336,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Basepoint Wealth LLC acquired a new stake in Ferguson during the 4th quarter worth approximately $26,000. Leonteq Securities AG bought a new stake in shares of Ferguson during the fourth quarter worth $26,000. Central Pacific Bank Trust Division bought a new stake in Ferguson in the 4th quarter valued at $27,000. Strategic Investment Solutions Inc. IL acquired a new position in Ferguson in the 3rd quarter worth $28,000. Finally, Zions Bancorporation National Association UT boosted its stake in Ferguson by 123.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock worth $32,000 after purchasing an additional 79 shares during the period. 81.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on FERG shares. Barclays increased their target price on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Royal Bank Of Canada lifted their target price on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Citigroup restated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Jefferies Financial Group reaffirmed a “buy” rating and set a $300.00 price target on shares of Ferguson in a research note on Tuesday, February 24th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $277.58.

Ferguson Price Performance

NYSE:FERG opened at $239.04 on Friday. Ferguson plc has a 52-week low of $207.64 and a 52-week high of $271.64. The company has a market cap of $46.36 billion, a P/E ratio of 27.80, a P/E/G ratio of 1.63 and a beta of 1.15. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78. The stock’s 50-day simple moving average is $240.87 and its 200 day simple moving average is $240.61.

Ferguson (NYSE:FERG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 EPS 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%.The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the company posted $2.50 earnings per share. As a group, sell-side analysts forecast that Ferguson plc will post 11.26 EPS 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 $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, May 15th. Ferguson’s dividend payout ratio is presently 41.40%.

Ferguson announced that its board has initiated a stock buyback program on Tuesday, May 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.