Weiss Asset Management LP Takes Position in Ferguson plc $FERG

Weiss Asset Management LP bought a new position in Ferguson plc (NYSE:FERG) during the 1st quarter, Holdings Channel reports. The firm bought 2,486 shares of the company’s stock, valued at approximately $580,000.

A number of other large investors have also bought and sold shares of FERG. Leonteq Securities AG bought a new position in Ferguson in the 4th quarter valued at $26,000. Basepoint Wealth LLC bought a new stake in shares of Ferguson during the fourth quarter worth $26,000. Zions Bancorporation National Association UT grew its holdings in shares of Ferguson by 123.4% during the fourth 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 last quarter. Johnson Financial Group Inc. bought a new stake in shares of Ferguson during the third quarter worth $34,000. Finally, Cornerstone Planning Group LLC increased its stake in shares of Ferguson by 53.9% in the fourth quarter. Cornerstone Planning Group LLC now owns 197 shares of the company’s stock valued at $44,000 after buying an additional 69 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors.

Ferguson Trading Up 1.4%

FERG stock opened at $233.79 on Tuesday. 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 plc has a twelve month low of $207.64 and a twelve month high of $271.64. The company has a market cap of $45.34 billion, a P/E ratio of 27.19, a PEG ratio of 1.63 and a beta of 1.13. The business has a fifty day moving average of $230.08 and a 200-day moving average of $240.59.

Ferguson (NYSE:FERG) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.14. The business 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%.Ferguson’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.50 EPS. As a group, equities research analysts expect that Ferguson plc will post 11.3 EPS for the current year.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th were paid 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 was Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is 41.40%.

Ferguson announced that its board has authorized a share buyback program on Tuesday, May 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FERG shares. Wells Fargo & Company lifted their price target on Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Royal Bank Of Canada raised their price objective on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Zelman & Associates upgraded shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 target price on the stock in a research report on Friday, July 17th. Finally, Weiss Ratings raised shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $277.21.

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.