Jupiter Topco LLC Purchases Shares of 7,538,616 Ferguson plc $FERG

Jupiter Topco LLC purchased a new position in Ferguson plc (NYSE:FERG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,538,616 shares of the company’s stock, valued at approximately $1,789,368,000. Ferguson makes up 0.7% of Jupiter Topco LLC’s holdings, making the stock its 27th biggest position.

Several other institutional investors have also recently made changes to their positions in FERG. Hsbc Holdings PLC lifted its position in shares of Ferguson by 81.4% during the 2nd quarter. Hsbc Holdings PLC now owns 427,091 shares of the company’s stock valued at $101,419,000 after buying an additional 191,609 shares in the last quarter. PDT Partners LLC purchased a new stake in Ferguson in the 2nd quarter worth approximately $2,397,000. Jones Financial Companies Lllp increased its holdings in Ferguson by 13.2% in the 2nd quarter. Jones Financial Companies Lllp now owns 96,108 shares of the company’s stock worth $22,932,000 after acquiring an additional 11,196 shares in the last quarter. Sone Capital Management LLC raised its stake in Ferguson by 18.9% during the 2nd quarter. Sone Capital Management LLC now owns 119,297 shares of the company’s stock worth $28,313,000 after acquiring an additional 18,965 shares during the period. Finally, L2 Asset Management LLC raised its stake in Ferguson by 5.2% during the 2nd quarter. L2 Asset Management LLC now owns 1,109 shares of the company’s stock worth $263,000 after acquiring an additional 55 shares during the period. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Down 1.6%

Shares of FERG opened at $232.66 on Wednesday. The business’s 50 day moving average is $237.14 and its 200 day moving average is $240.04. The company has a current ratio of 1.73, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. Ferguson plc has a 12-month low of $207.64 and a 12-month high of $271.64. The company has a market capitalization of $45.01 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 1.64 and a beta of 1.14.

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

Ferguson Announces Dividend

The business also recently announced 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 dividend yield of 1.5%. Ferguson’s dividend payout ratio is currently 41.83%.

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

Analyst Ratings Changes

Several brokerages have weighed in on FERG. Robert W. Baird lifted their price target on shares of Ferguson from $285.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Weiss Ratings upgraded shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. UBS Group raised their price objective on shares of Ferguson from $252.00 to $256.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Wells Fargo & Company lifted their target price on shares of Ferguson from $285.00 to $295.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Finally, Sanford C. Bernstein upped their target price on shares of Ferguson from $310.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. One research 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 company’s stock. According to MarketBeat.com, Ferguson currently has an average rating of “Moderate Buy” and an average target price of $285.93.

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.