Jones Financial Companies Lllp Purchases 11,196 Shares of Ferguson plc $FERG

Jones Financial Companies Lllp boosted its position in shares of Ferguson plc (NYSE:FERG) by 13.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,108 shares of the company’s stock after acquiring an additional 11,196 shares during the period. Jones Financial Companies Lllp’s holdings in Ferguson were worth $22,932,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FERG. Basepoint Wealth LLC purchased a new position in Ferguson during the 4th quarter worth $26,000. Leonteq Securities AG acquired a new stake in Ferguson in the fourth quarter worth about $26,000. Compass Financial Management LLC purchased a new stake in shares of Ferguson during the second quarter worth about $32,000. Zions Bancorporation National Association UT grew its stake in shares of 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. Finally, Johnson Financial Group Inc. acquired a new position in shares of Ferguson during the third quarter valued at about $34,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Down 2.5%

FERG stock opened at $236.11 on Tuesday. The stock has a market capitalization of $45.68 billion, a P/E ratio of 27.75, a P/E/G ratio of 1.68 and a beta of 1.14. Ferguson plc has a 52 week low of $207.64 and a 52 week high of $271.64. The firm has a 50-day simple moving average of $237.19 and a 200-day simple moving average of $240.24. The company has a quick ratio of 0.93, a current ratio of 1.73 and a debt-to-equity ratio of 0.72.

Ferguson (NYSE:FERG) last posted its quarterly earnings data on Monday, August 10th. The company reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.16. Ferguson had a return on equity of 37.24% and a net margin of 6.82%.The company had revenue of $8.75 billion for the quarter. Equities analysts forecast that Ferguson plc will post 11.42 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The firm also recently declared 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 is Friday, August 21st. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. Ferguson’s payout ratio is presently 41.83%.

Ferguson declared that its board has authorized a share buyback program on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Zelman & Associates raised shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price objective on the stock in a report on Friday, July 17th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $261.00 price objective on shares of Ferguson in a research note on Tuesday, August 18th. Royal Bank Of Canada raised their target price on shares of Ferguson from $281.00 to $290.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Barclays increased their price target on Ferguson from $297.00 to $313.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Finally, Sanford C. Bernstein boosted their price objective on Ferguson from $310.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Ferguson currently has a consensus rating of “Moderate Buy” and a consensus target price 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.