Calamos Advisors LLC Invests $2.94 Million in Ferguson plc $FERG

Calamos Advisors LLC purchased a new stake in shares of Ferguson plc (NYSE:FERG) in the 1st quarter, Holdings Channel reports. The fund purchased 12,584 shares of the company’s stock, valued at approximately $2,935,000.

Other large investors have also recently modified their holdings of the company. Basepoint Wealth LLC purchased a new stake in shares of Ferguson in the 4th quarter worth $26,000. Leonteq Securities AG purchased a new position in shares of Ferguson during the fourth quarter valued at $26,000. Central Pacific Bank Trust Division purchased a new position in shares of Ferguson during the fourth quarter valued at $27,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Ferguson in the third quarter valued at about $28,000. Finally, Zions Bancorporation National Association UT raised its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Down 1.9%

Shares of Ferguson stock opened at $230.30 on Thursday. The firm’s 50 day moving average price is $230.80 and its 200-day moving average price is $240.32. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68. Ferguson plc has a 52-week low of $207.64 and a 52-week high of $271.64. The company has a market cap of $44.66 billion, a P/E ratio of 26.78, a PEG ratio of 1.66 and a beta of 1.13.

Ferguson (NYSE:FERG) last posted its earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.14. The company had revenue of $7.47 billion during the quarter. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The company’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.50 EPS. On average, sell-side analysts predict that Ferguson plc will post 11.27 EPS for the current fiscal year.

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

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th were given a dividend of $0.89 per share. The ex-dividend date of this dividend was 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 presently 41.40%.

Analysts Set New Price Targets

FERG has been the topic of several recent research reports. Weiss Ratings upgraded shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Royal Bank Of Canada boosted their price target on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Wells Fargo & Company upped their price target on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Barclays increased their price objective on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, The Goldman Sachs Group lowered shares of Ferguson from a “buy” rating to a “neutral” rating and cut their price objective for the company from $315.00 to $265.00 in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $276.61.

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.