Cibc World Market Inc. Acquires 5,463 Shares of Ferguson plc $FERG

Cibc World Market Inc. boosted its holdings in shares of Ferguson plc (NYSE:FERG) by 79.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,328 shares of the company’s stock after buying an additional 5,463 shares during the quarter. Cibc World Market Inc.’s holdings in Ferguson were worth $2,769,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Caprock Group LLC purchased a new position in shares of Ferguson in the 3rd quarter valued at $1,062,000. Impax Asset Management Group plc boosted its position in Ferguson by 22.1% during the third quarter. Impax Asset Management Group plc now owns 73,488 shares of the company’s stock valued at $16,504,000 after purchasing an additional 13,285 shares in the last quarter. Krilogy Financial LLC purchased a new position in Ferguson in the third quarter valued at about $502,000. Baader Bank Aktiengesellschaft raised its holdings in Ferguson by 3.4% in the third quarter. Baader Bank Aktiengesellschaft now owns 61,001 shares of the company’s stock worth $13,700,000 after purchasing an additional 2,001 shares in the last quarter. Finally, REAP Financial Group LLC purchased a new stake in shares of Ferguson during the third quarter valued at about $85,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Trading Down 0.9%

Shares of Ferguson stock opened at $261.34 on Monday. The firm’s 50 day simple moving average is $240.98 and its two-hundred day simple moving average is $237.77. The firm has a market capitalization of $51.10 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 2.17 and a beta of 1.17. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $271.64. The company has a current ratio of 1.88, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68.

Ferguson (NYSE:FERG) last announced its quarterly earnings data on Tuesday, December 9th. The company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.07. Ferguson had a net margin of 6.28% and a return on equity of 35.73%. The firm had revenue of $8.17 billion for the quarter. During the same period last year, the firm earned $2.45 earnings per share. Ferguson’s quarterly revenue was up 5.1% compared to the same quarter last year.

Ferguson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, January 2nd will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, January 2nd. This is a boost from Ferguson’s previous quarterly dividend of $0.83. Ferguson’s dividend payout ratio (DPR) is presently 35.96%.

Analysts Set New Price Targets

FERG has been the topic of a number of analyst reports. Robert W. Baird lifted their price objective on shares of Ferguson from $262.00 to $265.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 10th. Sanford C. Bernstein restated an “outperform” rating on shares of Ferguson in a research note on Thursday, January 8th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Ferguson from $237.00 to $246.00 and gave the stock a “hold” rating in a report on Thursday, December 11th. UBS Group decreased their price objective on Ferguson from $225.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, December 10th. Finally, Vertical Research started coverage on Ferguson in a research note on Monday, October 20th. They set a “buy” rating and a $291.99 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $253.00.

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.