PDT Partners LLC Makes New Investment in Ferguson plc $FERG

PDT Partners LLC bought a new position in shares of Ferguson plc (NYSE:FERG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,100 shares of the company’s stock, valued at approximately $2,397,000.

Several other hedge funds have also modified their holdings of FERG. Basepoint Wealth LLC acquired a new stake in Ferguson in the fourth quarter valued at $26,000. Leonteq Securities AG acquired a new position in shares of Ferguson during the 4th quarter worth $26,000. Compass Financial Management LLC acquired a new position in shares of Ferguson during the 2nd quarter worth $32,000. Zions Bancorporation National Association UT increased its holdings in shares of Ferguson by 123.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after purchasing an additional 79 shares in the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in shares of Ferguson in the 3rd quarter valued at about $34,000. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Stock Performance

NYSE:FERG opened at $235.84 on Thursday. The company has a current ratio of 1.73, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average price of $237.26 and a two-hundred day moving average price of $239.91. Ferguson plc has a twelve month low of $207.64 and a twelve month high of $271.64. The company has a market capitalization of $45.62 billion, a P/E ratio of 27.71, a price-to-earnings-growth ratio of 1.61 and a beta of 1.14.

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

Ferguson Dividend Announcement

The business also recently disclosed 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. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, August 21st. Ferguson’s payout ratio is currently 41.83%.

Ferguson announced that its Board of Directors has approved a share repurchase plan 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

FERG has been the topic of a number of research analyst reports. 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. Royal Bank Of Canada increased their target price on shares of Ferguson from $281.00 to $290.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $261.00 price target on shares of Ferguson in a research report on Tuesday, August 18th. Oppenheimer boosted their price target on Ferguson from $280.00 to $288.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Finally, Barclays upped their price target on Ferguson from $297.00 to $313.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $285.93.

Ferguson Company 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.