Cumberland Partners Ltd Has $500,000 Stock Holdings in Ferguson plc $FERG

Cumberland Partners Ltd cut its stake in shares of Ferguson plc (NYSE:FERG) by 74.3% during the fourth quarter, Holdings Channel reports. The firm owned 2,245 shares of the company’s stock after selling 6,500 shares during the quarter. Cumberland Partners Ltd’s holdings in Ferguson were worth $500,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FERG. Durable Capital Partners LP purchased a new position in shares of Ferguson during the third quarter valued at $244,561,000. Qube Research & Technologies Ltd grew its holdings in shares of Ferguson by 588.1% during the third quarter. Qube Research & Technologies Ltd now owns 1,087,523 shares of the company’s stock valued at $244,236,000 after buying an additional 929,475 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Ferguson by 22.4% during the third quarter. Wellington Management Group LLP now owns 3,734,911 shares of the company’s stock valued at $838,786,000 after buying an additional 682,666 shares in the last quarter. 59 North Capital Management LP grew its holdings in shares of Ferguson by 114.7% during the third quarter. 59 North Capital Management LP now owns 1,255,137 shares of the company’s stock valued at $281,879,000 after buying an additional 670,473 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its holdings in shares of Ferguson by 502.8% during the third quarter. Voloridge Investment Management LLC now owns 765,725 shares of the company’s stock valued at $171,967,000 after buying an additional 638,692 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Wall Street Analysts Forecast Growth

FERG has been the topic of a number of research analyst reports. Truist Financial lifted their price target on Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Barclays lifted their price target on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Oppenheimer lifted their price target on Ferguson from $255.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Jefferies Financial Group reiterated a “buy” rating and set a $300.00 price target on shares of Ferguson in a report on Tuesday, February 24th. Finally, Royal Bank Of Canada lifted their price target on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $269.73.

Ferguson Stock Performance

Shares of NYSE FERG opened at $223.37 on Friday. The business’s 50-day moving average price is $240.13 and its two-hundred day moving average price is $242.81. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01. Ferguson plc has a one year low of $176.26 and a one year high of $271.64. The company has a market capitalization of $43.32 billion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 1.58 and a beta of 1.23.

Ferguson (NYSE:FERG) last issued its earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.14. The firm had revenue of $7.47 billion for the quarter. Ferguson had a return on equity of 38.92% and a net margin of 6.98%.The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.50 EPS. Analysts anticipate that Ferguson plc will post 11.25 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, May 15th. Ferguson’s dividend payout ratio is 41.40%.

Ferguson announced that its board has initiated a stock repurchase program on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is 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.