Algert Global LLC Purchases Shares of 12,078 Ferguson plc $FERG

Algert Global LLC bought a new stake in shares of Ferguson plc (NYSE:FERG) in the 2nd quarter, Holdings Channel reports. The firm bought 12,078 shares of the company’s stock, valued at approximately $2,866,000.

Other large investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of Ferguson by 150.8% in the 4th quarter. Wellington Management Group LLP now owns 9,366,465 shares of the company’s stock worth $2,085,256,000 after acquiring an additional 5,631,554 shares during the last quarter. Janus Henderson Group PLC boosted its position in Ferguson by 2.1% during the first 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 in the last quarter. State Street Corp grew its stake in Ferguson by 1.8% during the 4th quarter. State Street Corp now owns 4,516,764 shares of the company’s stock worth $1,005,567,000 after buying an additional 79,296 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Ferguson by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 4,393,603 shares of the company’s stock worth $977,959,000 after buying an additional 25,785 shares during the last quarter. Finally, Soroban Capital Partners LP lifted its holdings in shares of Ferguson by 2.8% during the second quarter. Soroban Capital Partners LP now owns 3,705,056 shares of the company’s stock worth $806,776,000 after purchasing an additional 100,559 shares during the period. 81.98% of the stock is currently owned by institutional investors.

Ferguson Stock Performance

Shares of FERG opened at $228.52 on Friday. Ferguson plc has a 1 year low of $207.64 and a 1 year high of $271.64. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.73. The company’s fifty day moving average is $236.93 and its two-hundred day moving average is $239.63. The stock has a market capitalization of $44.21 billion, a P/E ratio of 26.85, a P/E/G ratio of 1.62 and a beta of 1.14.

Ferguson (NYSE:FERG) last issued its earnings results 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 return on equity of 37.24% and a net margin of 6.82%.The business had revenue of $8.75 billion during the quarter. On average, sell-side analysts predict that Ferguson plc will post 11.42 earnings per share for the current year.

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

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Friday, August 21st will be issued a $0.89 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.56 dividend on an annualized basis and a yield of 1.6%. Ferguson’s dividend payout ratio (DPR) is 41.83%.

Analysts Set New Price Targets

FERG has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $261.00 price objective on shares of Ferguson in a report on Tuesday, August 18th. Barclays increased their target price on shares of Ferguson from $297.00 to $313.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. UBS Group lifted their price objective on Ferguson from $252.00 to $256.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Zelman & Associates raised shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price target for the company in a research note on Friday, July 17th. Finally, The Goldman Sachs Group cut shares of Ferguson from a “buy” rating to a “neutral” rating and decreased their target price for the company from $315.00 to $265.00 in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Ferguson currently 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.