Ferguson plc $FERG Shares Sold by Eminence Capital LP

Eminence Capital LP decreased its stake in shares of Ferguson plc (NYSE:FERG) by 25.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 499,807 shares of the company’s stock after selling 173,777 shares during the period. Ferguson accounts for 1.8% of Eminence Capital LP’s portfolio, making the stock its 27th largest position. Eminence Capital LP’s holdings in Ferguson were worth $111,272,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Evolve Private Wealth LLC purchased a new stake in Ferguson during the fourth quarter worth approximately $542,000. Freestone Grove Partners LP grew its stake in Ferguson by 7,810.8% during the fourth quarter. Freestone Grove Partners LP now owns 143,977 shares of the company’s stock worth $32,054,000 after buying an additional 142,157 shares during the period. Caisse de depot et placement du Quebec grew its stake in Ferguson by 825.5% during the fourth quarter. Caisse de depot et placement du Quebec now owns 149,100 shares of the company’s stock worth $33,194,000 after buying an additional 132,990 shares during the period. GAM Holding AG purchased a new stake in Ferguson during the fourth quarter worth approximately $2,070,000. Finally, Tortoise Capital Advisors L.L.C. purchased a new stake in Ferguson during the fourth quarter worth approximately $3,916,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FERG shares. Weiss Ratings downgraded shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. Truist Financial boosted their price objective on shares of Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Jefferies Financial Group reiterated a “buy” rating and set a $300.00 price objective on shares of Ferguson in a research note on Tuesday, February 24th. Oppenheimer boosted their price objective on shares of Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Finally, Barclays boosted their price objective on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $277.58.

Ferguson Price Performance

Shares of FERG stock opened at $230.14 on Thursday. The company has a market capitalization of $44.63 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 1.66 and a beta of 1.15. The firm has a fifty day simple moving average of $240.81 and a 200-day simple moving average of $240.70. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68. Ferguson plc has a twelve month low of $207.64 and a twelve month high of $271.64.

Ferguson (NYSE:FERG) last announced its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.14. The business had revenue of $7.47 billion during the quarter. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. Ferguson’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.50 earnings per share. Equities research analysts anticipate that Ferguson plc will post 11.26 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th will be paid 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 declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Ferguson Company 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.