Westerkirk Capital Inc. Sells 7,400 Shares of Ferguson plc $FERG

Westerkirk Capital Inc. cut its position in shares of Ferguson plc (NYSE:FERG) by 30.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,271 shares of the company’s stock after selling 7,400 shares during the period. Westerkirk Capital Inc.’s holdings in Ferguson were worth $3,845,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Leonteq Securities AG purchased a new stake in Ferguson during the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC purchased a new stake in Ferguson during the fourth quarter valued at approximately $26,000. Central Pacific Bank Trust Division purchased a new stake in Ferguson during the fourth quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in Ferguson during the third quarter valued at approximately $28,000. Finally, Grove Bank & Trust raised its position in Ferguson by 154.4% during the fourth quarter. Grove Bank & Trust now owns 145 shares of the company’s stock valued at $32,000 after purchasing an additional 88 shares during the period. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. UBS Group upped their price objective on Ferguson from $220.00 to $252.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Truist Financial upped their price objective on 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 restated a “buy” rating and set a $300.00 price objective on shares of Ferguson in a research report on Tuesday, February 24th. Barclays upped their price objective on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Weiss Ratings downgraded Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $277.77.

Ferguson Trading Down 2.4%

Shares of NYSE FERG opened at $224.12 on Tuesday. 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 business’s 50 day moving average price is $241.07 and its 200-day moving average price is $241.28. Ferguson plc has a fifty-two week low of $207.64 and a fifty-two week high of $271.64. The company has a market cap of $43.47 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 1.63 and a beta of 1.15.

Ferguson (NYSE:FERG) last released its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.14 by $0.14. The company had revenue of $7.47 billion for the quarter. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The company’s revenue for the quarter 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. On average, sell-side analysts expect that Ferguson plc will post 11.26 earnings per share for the current year.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is presently 41.40%.

Ferguson declared that its board has approved a stock repurchase program on Tuesday, May 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership 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.