Greenland Capital Management LP Makes New $1.48 Million Investment in Ferguson plc $FERG

Greenland Capital Management LP acquired a new position in shares of Ferguson plc (NYSE:FERG) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,242 shares of the company’s stock, valued at approximately $1,481,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FERG. Vanguard Group Inc. increased its stake in shares of Ferguson by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 19,418,334 shares of the company’s stock worth $4,323,104,000 after purchasing an additional 102,850 shares during the period. Wellington Management Group LLP boosted its stake in Ferguson by 150.8% in the 4th quarter. Wellington Management Group LLP now owns 9,366,465 shares of the company’s stock valued at $2,085,256,000 after purchasing an additional 5,631,554 shares during the period. Janus Henderson Group PLC boosted its stake in Ferguson by 2.1% in the 1st quarter. Janus Henderson Group PLC now owns 6,107,108 shares of the company’s stock valued at $1,424,075,000 after purchasing an additional 125,317 shares during the period. State Street Corp grew its holdings in Ferguson by 1.8% in the 4th quarter. State Street Corp now owns 4,516,764 shares of the company’s stock valued at $1,005,567,000 after buying an additional 79,296 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Ferguson by 0.6% in the 4th quarter. Franklin Resources Inc. now owns 4,393,603 shares of the company’s stock valued at $977,959,000 after buying an additional 25,785 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on FERG shares. Royal Bank Of Canada increased their price objective on Ferguson from $281.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Oppenheimer lifted their price objective on shares of Ferguson from $280.00 to $288.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Citigroup reissued a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. The Goldman Sachs Group lowered shares of Ferguson from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $315.00 to $265.00 in a research report on Monday, July 6th. Finally, Barclays raised their target price on shares of Ferguson from $297.00 to $313.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $285.93.

Ferguson Stock Up 1.2%

FERG stock opened at $242.36 on Friday. Ferguson plc has a 52 week low of $207.64 and a 52 week high of $271.64. The business has a 50-day simple moving average of $237.18 and a 200 day simple moving average of $240.50. The company has a quick ratio of 0.93, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. The company has a market cap of $46.88 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 1.68 and a beta of 1.14.

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

Ferguson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Friday, August 21st will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 21st. Ferguson’s dividend payout ratio is 41.83%.

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

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.