Neo Ivy Capital Management Buys New Position in Ferguson plc (NASDAQ:FERG)

Neo Ivy Capital Management bought a new stake in shares of Ferguson plc (NASDAQ:FERG) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,500 shares of the company’s stock, valued at approximately $561,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. First Pacific Advisors LP boosted its position in shares of Ferguson by 13.5% during the 1st quarter. First Pacific Advisors LP now owns 1,251,631 shares of the company’s stock valued at $200,549,000 after purchasing an additional 148,891 shares in the last quarter. Machina Capital S.A.S. bought a new position in Ferguson in the first quarter worth approximately $502,000. Diamond Hill Capital Management Inc. boosted its holdings in Ferguson by 24.6% in the first quarter. Diamond Hill Capital Management Inc. now owns 2,242,302 shares of the company’s stock worth $359,284,000 after acquiring an additional 443,247 shares in the last quarter. Madison Asset Management LLC boosted its holdings in Ferguson by 57.3% in the first quarter. Madison Asset Management LLC now owns 472,848 shares of the company’s stock worth $75,764,000 after acquiring an additional 172,247 shares in the last quarter. Finally, Close Asset Management Ltd bought a new position in Ferguson in the first quarter worth approximately $411,000. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of Ferguson stock opened at $224.08 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The company has a market cap of $44.18 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17. The business has a 50 day moving average price of $210.19 and a 200-day moving average price of $184.44. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $227.73.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.44. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.32 earnings per share. Equities analysts anticipate that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Friday, June 20th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, June 20th. Ferguson’s payout ratio is 41.40%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FERG. Royal Bank Of Canada increased their price target on Ferguson from $189.00 to $231.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. Morgan Stanley reiterated an “overweight” rating and issued a $220.00 price target (up previously from $195.00) on shares of Ferguson in a report on Monday, June 9th. Barclays increased their price target on Ferguson from $190.00 to $247.00 and gave the stock an “overweight” rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. increased their price target on Ferguson from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, June 6th. Finally, Berenberg Bank reiterated a “hold” rating and issued a $215.00 price target on shares of Ferguson in a report on Thursday, June 5th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Ferguson has an average rating of “Moderate Buy” and an average target price of $220.64.

About Ferguson

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.