Vise Technologies Inc. Boosts Stock Position in Ferguson plc $FERG

Vise Technologies Inc. boosted its position in Ferguson plc (NYSE:FERG) by 56.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,305 shares of the company’s stock after purchasing an additional 2,633 shares during the quarter. Vise Technologies Inc.’s holdings in Ferguson were worth $1,734,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Leonteq Securities AG purchased a new stake in shares of Ferguson during the fourth quarter worth about $26,000. Basepoint Wealth LLC acquired a new stake in Ferguson during the fourth quarter worth approximately $26,000. Zions Bancorporation National Association UT boosted its position in Ferguson by 123.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock worth $32,000 after acquiring an additional 79 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in Ferguson in the 3rd quarter worth approximately $34,000. Finally, Eastern Bank purchased a new stake in Ferguson in the 2nd quarter worth approximately $42,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Robert W. Baird increased their price target on Ferguson from $285.00 to $288.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. The Goldman Sachs Group downgraded Ferguson from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $315.00 to $265.00 in a research report on Monday, July 6th. Oppenheimer upped their target price on Ferguson from $280.00 to $288.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Barclays increased their target price on Ferguson from $297.00 to $313.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company raised their price target on Ferguson from $285.00 to $295.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $285.93.

Ferguson Stock Performance

NYSE:FERG opened at $242.36 on Friday. 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 P/E ratio of 28.48, a P/E/G ratio of 1.66 and a beta of 1.14. Ferguson plc has a fifty-two week low of $207.64 and a fifty-two week high of $271.64. The firm’s 50 day moving average is $237.18 and its two-hundred day moving average is $240.50.

Ferguson (NYSE:FERG) last announced its quarterly earnings results on Monday, August 10th. The company reported $3.39 earnings per share for the quarter, beating 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 company had revenue of $8.75 billion for the quarter. Analysts expect that Ferguson plc will post 11.42 EPS for the current year.

Ferguson Announces Dividend

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

Ferguson announced that its board has initiated a share buyback plan on Tuesday, May 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are 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.