Montanova Capital LLC Increases Stock Holdings in Ferguson plc $FERG

Montanova Capital LLC increased its position in shares of Ferguson plc (NYSE:FERG) by 16.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 246,758 shares of the company’s stock after purchasing an additional 34,858 shares during the period. Ferguson accounts for about 1.0% of Montanova Capital LLC’s holdings, making the stock its 27th biggest holding. Montanova Capital LLC’s holdings in Ferguson were worth $58,563,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Basepoint Wealth LLC acquired a new position in Ferguson in the 4th quarter valued at about $26,000. Leonteq Securities AG acquired a new stake in shares of Ferguson during the 4th quarter worth approximately $26,000. Compass Financial Management LLC acquired a new stake in shares of Ferguson during the 2nd quarter worth approximately $32,000. Zions Bancorporation National Association UT raised its position in shares of Ferguson by 123.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after buying an additional 79 shares during the period. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Ferguson during the 3rd quarter valued at approximately $34,000. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Stock Down 1.6%

NYSE:FERG opened at $224.81 on Tuesday. Ferguson plc has a 52 week low of $207.64 and a 52 week high of $271.64. The stock’s fifty day moving average is $236.68 and its two-hundred day moving average is $239.20. The stock has a market capitalization of $43.49 billion, a price-to-earnings ratio of 26.42, a price-to-earnings-growth ratio of 1.59 and a beta of 1.14. The company has a quick ratio of 0.93, a current ratio of 1.73 and a debt-to-equity ratio of 0.72.

Ferguson (NYSE:FERG) last issued its quarterly earnings data on Monday, August 10th. The company reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.16. The business had revenue of $8.75 billion during the quarter. Ferguson had a return on equity of 37.24% and a net margin of 6.82%. Research analysts anticipate that Ferguson plc will post 11.42 EPS for the current year.

Ferguson declared that its board has approved a stock buyback plan on Tuesday, May 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Friday, August 21st will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 21st. Ferguson’s payout ratio is currently 41.83%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FERG shares. Barclays increased their price objective on Ferguson from $297.00 to $313.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Sanford C. Bernstein upped their price target on Ferguson from $310.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $261.00 price objective on shares of Ferguson in a research report on Tuesday, August 18th. The Goldman Sachs Group lowered shares of Ferguson from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $315.00 to $265.00 in a report on Monday, July 6th. Finally, Royal Bank Of Canada increased their target price on shares of Ferguson from $281.00 to $290.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $285.93.

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.