Sequoia Financial Advisors LLC Increases Stock Position in Ferguson plc $FERG

Sequoia Financial Advisors LLC raised its stake in Ferguson plc (NYSE:FERG) by 54.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,052 shares of the company’s stock after acquiring an additional 2,497 shares during the period. Sequoia Financial Advisors LLC’s holdings in Ferguson were worth $1,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Central Pacific Bank Trust Division purchased a new position in Ferguson during the 4th quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in Ferguson in the third quarter valued at approximately $28,000. Cornerstone Planning Group LLC boosted its holdings in shares of Ferguson by 178.3% in the third quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock valued at $31,000 after acquiring an additional 82 shares during the period. Grove Bank & Trust boosted its holdings in shares of Ferguson by 154.4% in the fourth quarter. Grove Bank & Trust now owns 145 shares of the company’s stock valued at $32,000 after acquiring an additional 88 shares during the period. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Ferguson in the third quarter valued at approximately $34,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Trading Up 1.2%

NYSE:FERG opened at $244.26 on Tuesday. Ferguson plc has a 1 year low of $173.53 and a 1 year high of $271.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88. The stock has a fifty day moving average price of $242.79 and a two-hundred day moving average price of $244.08. The stock has a market capitalization of $47.37 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 1.71 and a beta of 1.23.

Ferguson (NYSE:FERG) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. Ferguson had a net margin of 6.98% and a return on equity of 38.92%. The business had revenue of $7.47 billion for the quarter. During the same period last year, the company earned $2.50 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ferguson plc will post 11.23 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th will be issued a $0.89 dividend. The ex-dividend date is Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.5%. Ferguson’s dividend payout ratio is currently 40.36%.

Ferguson declared that its Board of Directors has initiated a stock repurchase program on Tuesday, May 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. UBS Group lifted their target price on shares of Ferguson from $220.00 to $252.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Oppenheimer raised their price objective on shares of Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Royal Bank Of Canada lifted their price objective on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Weiss Ratings cut shares of Ferguson from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $300.00 target price on shares of Ferguson in a research note on Tuesday, February 24th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Ferguson presently has a consensus rating of “Moderate Buy” and an average target price of $269.73.

About Ferguson

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.