Entropy Technologies LP Decreases Stake in Ferguson plc $FERG

Entropy Technologies LP reduced its position in Ferguson plc (NYSE:FERG) by 66.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,963 shares of the company’s stock after selling 27,129 shares during the period. Entropy Technologies LP’s holdings in Ferguson were worth $3,109,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Leonteq Securities AG purchased a new stake in shares of Ferguson in the fourth quarter worth about $26,000. Basepoint Wealth LLC bought a new stake in Ferguson during the fourth quarter worth approximately $26,000. Central Pacific Bank Trust Division bought a new stake in Ferguson during the fourth quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Ferguson during the third quarter worth approximately $28,000. Finally, Grove Bank & Trust increased its stake in Ferguson by 154.4% during the fourth quarter. Grove Bank & Trust now owns 145 shares of the company’s stock worth $32,000 after acquiring an additional 88 shares during the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Trading Up 0.0%

Shares of NYSE FERG opened at $230.13 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78. The business’s 50 day moving average price is $240.99 and its 200-day moving average price is $241.08. Ferguson plc has a fifty-two week low of $207.64 and a fifty-two week high of $271.64. The company has a market cap of $44.63 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 1.63 and a beta of 1.15.

Ferguson (NYSE:FERG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.14. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The firm had revenue of $7.47 billion for the quarter. During the same quarter in the previous year, the company posted $2.50 earnings per share. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts expect that Ferguson plc will post 11.26 earnings per share for the current year.

Ferguson announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, May 15th. Ferguson’s dividend payout ratio is presently 41.40%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FERG. Citigroup reissued a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Truist Financial boosted their price objective on Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Wells Fargo & Company boosted their price objective on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Barclays boosted their price objective on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, UBS Group boosted their price objective on Ferguson from $220.00 to $252.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued 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 $277.77.

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.