Alpine Global Management LLC Has $1.41 Million Stock Position in Ferguson plc $FERG

Alpine Global Management LLC boosted its holdings in Ferguson plc (NYSE:FERG) by 177.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,318 shares of the company’s stock after purchasing an additional 4,041 shares during the period. Alpine Global Management LLC’s holdings in Ferguson were worth $1,407,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Signaturefd LLC raised its position in shares of Ferguson by 1.1% during the fourth quarter. Signaturefd LLC now owns 3,979 shares of the company’s stock valued at $886,000 after buying an additional 44 shares during the last quarter. Simplicity Wealth LLC increased its stake in Ferguson by 1.6% during the fourth quarter. Simplicity Wealth LLC now owns 3,132 shares of the company’s stock valued at $697,000 after acquiring an additional 48 shares during the period. Sivia Capital Partners LLC raised its holdings in Ferguson by 2.9% in the 4th quarter. Sivia Capital Partners LLC now owns 1,685 shares of the company’s stock valued at $375,000 after acquiring an additional 48 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Ferguson by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock valued at $150,000 after acquiring an additional 48 shares in the last quarter. Finally, REAP Financial Group LLC lifted its position in shares of Ferguson by 13.4% in the 4th quarter. REAP Financial Group LLC now owns 431 shares of the company’s stock worth $96,000 after acquiring an additional 51 shares during the period. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Stock Performance

Ferguson stock opened at $239.04 on Friday. The firm has a market capitalization of $46.36 billion, a P/E ratio of 27.80, a P/E/G ratio of 1.63 and a beta of 1.15. The stock has a fifty day moving average price of $240.87 and a two-hundred day moving average price of $240.61. Ferguson plc has a 52-week low of $207.64 and a 52-week high of $271.64. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96.

Ferguson (NYSE:FERG) last issued its earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.14 by $0.14. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The company had revenue of $7.47 billion for the quarter. During the same quarter in the prior year, the firm posted $2.50 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, analysts anticipate that Ferguson plc will post 11.26 EPS for the current fiscal year.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is currently 41.40%.

Ferguson announced that its Board of Directors has authorized a stock buyback program on Tuesday, May 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

FERG has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. UBS Group lifted their price target on shares of Ferguson from $220.00 to $252.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Royal Bank Of Canada boosted their price target on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Weiss Ratings cut shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. Finally, Citigroup restated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Ferguson has an average rating of “Moderate Buy” and an average price target of $277.58.

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.