HF Advisory Group LLC Buys New Shares in Ferguson plc $FERG

HF Advisory Group LLC purchased a new position in shares of Ferguson plc (NYSE:FERG) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,923 shares of the company’s stock, valued at approximately $1,148,000.

Other hedge funds also recently made changes to their positions in the company. Basepoint Wealth LLC acquired a new stake in shares of Ferguson during the 4th quarter worth $26,000. Leonteq Securities AG acquired a new position in Ferguson in the fourth quarter valued at $26,000. Central Pacific Bank Trust Division acquired a new position in Ferguson in the fourth quarter valued at $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in Ferguson during the third quarter valued at about $28,000. Finally, Zions Bancorporation National Association UT grew its position in 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 during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Down 1.1%

NYSE FERG opened at $238.08 on Friday. The stock has a market cap of $46.17 billion, a PE ratio of 27.68, a P/E/G ratio of 1.70 and a beta of 1.15. Ferguson plc has a fifty-two week low of $207.64 and a fifty-two week high of $271.64. The business has a 50 day moving average price of $238.71 and a two-hundred day moving average price of $240.14. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68.

Ferguson (NYSE:FERG) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, beating 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 company had revenue of $7.47 billion for the quarter. During the same quarter in the prior year, the business earned $2.50 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, sell-side analysts predict that Ferguson plc will post 11.26 EPS for the current fiscal year.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.56 annualized dividend and a yield of 1.5%. Ferguson’s payout ratio is 41.40%.

Ferguson declared that its board has authorized a share repurchase plan 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 plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Weiss Ratings downgraded Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Royal Bank Of Canada boosted their target price on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Barclays raised their price target on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company increased their price objective 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. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Ferguson currently has a consensus rating of “Moderate Buy” and an average target price of $277.58.

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.