Kinetic Partners Management LP Sells 15,890 Shares of Ferguson plc $FERG

Kinetic Partners Management LP lowered its holdings in shares of Ferguson plc (NYSE:FERG) by 16.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 80,710 shares of the company’s stock after selling 15,890 shares during the period. Kinetic Partners Management LP’s holdings in Ferguson were worth $19,155,000 as of its most recent SEC filing.

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

Ferguson Trading Down 1.6%

FERG opened at $232.66 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 0.93. Ferguson plc has a fifty-two week low of $207.64 and a fifty-two week high of $271.64. The firm has a market capitalization of $45.01 billion, a PE ratio of 27.34, a P/E/G ratio of 1.64 and a beta of 1.14. The company’s 50-day moving average is $237.14 and its 200 day moving average is $240.04.

Ferguson (NYSE:FERG) last released its quarterly earnings results on Monday, August 10th. The company reported $3.39 earnings per share (EPS) 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%. As a group, research analysts predict that Ferguson plc will post 11.42 earnings per share for the current fiscal year.

Ferguson declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Ferguson Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FERG. Royal Bank Of Canada increased their price objective on shares of Ferguson from $281.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. UBS Group increased their price target on Ferguson from $252.00 to $256.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $261.00 price objective on shares of Ferguson in a research report on Tuesday, August 18th. Sanford C. Bernstein upped their target price on Ferguson from $310.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Finally, Barclays raised their target price on Ferguson from $297.00 to $313.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.