Sycale Advisors NY LLC Invests $2.33 Million in Ferguson plc $FERG

Sycale Advisors NY LLC bought a new stake in Ferguson plc (NYSE:FERG) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 9,990 shares of the company’s stock, valued at approximately $2,330,000. Ferguson accounts for 1.2% of Sycale Advisors NY LLC’s holdings, making the stock its 15th largest holding.

Other large investors also recently made changes to their positions in the company. Leonteq Securities AG acquired a new position in Ferguson during the 4th quarter worth approximately $26,000. Basepoint Wealth LLC acquired a new stake in Ferguson in the fourth quarter valued at approximately $26,000. Zions Bancorporation National Association UT grew its stake in Ferguson by 123.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after acquiring an additional 79 shares during the period. Johnson Financial Group Inc. bought a new stake in shares of Ferguson during the third quarter valued at approximately $34,000. Finally, Cornerstone Planning Group LLC increased its holdings in shares of Ferguson by 53.9% during the fourth quarter. Cornerstone Planning Group LLC now owns 197 shares of the company’s stock valued at $44,000 after acquiring an additional 69 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Stock Performance

Shares of FERG opened at $229.96 on Thursday. The firm has a market capitalization of $44.60 billion, a P/E ratio of 26.74, a P/E/G ratio of 1.60 and a beta of 1.13. Ferguson plc has a 52 week low of $207.64 and a 52 week high of $271.64. The stock has a 50 day moving average price of $229.73 and a two-hundred day moving average price of $240.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78.

Ferguson (NYSE:FERG) last posted its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.14. The company 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%.The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.50 EPS. Equities analysts forecast that Ferguson plc will post 11.27 earnings per share for the current fiscal year.

Ferguson declared that its board has initiated a share buyback program on Tuesday, May 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Friday, May 15th were given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Friday, May 15th. Ferguson’s dividend payout ratio is presently 41.40%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FERG. Weiss Ratings raised Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Barclays lifted their price target on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Citigroup restated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. The Goldman Sachs Group downgraded shares of Ferguson from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $315.00 to $265.00 in a report on Monday, July 6th. Finally, Wells Fargo & Company raised their price objective on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $277.21.

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.