Cumberland Partners Ltd Takes Position in Ferguson plc $FERG

Cumberland Partners Ltd purchased a new position in shares of Ferguson plc (NYSE:FERG) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 8,745 shares of the company’s stock, valued at approximately $1,964,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Atria Investments Inc grew its stake in shares of Ferguson by 38.2% in the 3rd quarter. Atria Investments Inc now owns 15,401 shares of the company’s stock valued at $3,459,000 after buying an additional 4,259 shares during the period. Rakuten Investment Management Inc. acquired a new position in Ferguson in the third quarter valued at approximately $1,002,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Ferguson by 11.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,523 shares of the company’s stock valued at $4,609,000 after acquiring an additional 2,145 shares during the last quarter. iA Global Asset Management Inc. purchased a new position in Ferguson in the third quarter worth approximately $1,252,000. Finally, Allianz Asset Management GmbH increased its stake in Ferguson by 21.0% during the third quarter. Allianz Asset Management GmbH now owns 322,924 shares of the company’s stock worth $72,522,000 after acquiring an additional 55,981 shares during the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Stock Up 0.2%

Ferguson stock opened at $260.18 on Thursday. The stock’s 50 day moving average price is $242.55 and its 200 day moving average price is $238.46. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01. The company has a market cap of $50.88 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 2.15 and a beta of 1.18. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $271.64.

Ferguson (NYSE:FERG) last posted its earnings results on Tuesday, December 9th. The company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.07. Ferguson had a return on equity of 35.73% and a net margin of 6.28%.The company had revenue of $8.17 billion for the quarter. During the same period last year, the company posted $2.45 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis.

Ferguson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, January 2nd will be issued a $0.89 dividend. This is a positive change from Ferguson’s previous quarterly dividend of $0.83. The ex-dividend date is Friday, January 2nd. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.4%. Ferguson’s dividend payout ratio (DPR) is 35.96%.

Wall Street Analysts Forecast Growth

FERG has been the subject of a number of research analyst reports. Barclays increased their price target on Ferguson from $267.00 to $278.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. Sanford C. Bernstein restated an “outperform” rating on shares of Ferguson in a report on Thursday, January 8th. Robert W. Baird lifted their target price on shares of Ferguson from $262.00 to $265.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Royal Bank Of Canada reissued an “outperform” rating on shares of Ferguson in a research report on Friday, January 9th. Finally, UBS Group decreased their price target on Ferguson from $225.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Ferguson has a consensus rating of “Moderate Buy” and an average price target of $253.00.

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.