Rockefeller Capital Management L.P. Has $1.07 Million Position in Ferguson plc $FERG

Rockefeller Capital Management L.P. boosted its holdings in Ferguson plc (NYSE:FERG) by 83.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,815 shares of the company’s stock after buying an additional 2,196 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Ferguson were worth $1,072,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in FERG. Leonteq Securities AG bought a new position in shares of Ferguson during the fourth quarter valued at $26,000. Basepoint Wealth LLC acquired a new position in shares of Ferguson during the fourth quarter worth $26,000. Central Pacific Bank Trust Division bought a new stake in shares of Ferguson in the fourth quarter worth $27,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Ferguson in the third quarter worth $28,000. Finally, Grove Bank & Trust grew its stake in shares of Ferguson by 154.4% in the fourth quarter. Grove Bank & Trust now owns 145 shares of the company’s stock worth $32,000 after purchasing an additional 88 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Stock Performance

FERG stock opened at $230.22 on Friday. The firm has a market cap of $44.65 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.62 and a beta of 1.13. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average price of $236.50 and a 200-day moving average price of $240.27. Ferguson plc has a 1-year low of $207.64 and a 1-year high of $271.64.

Ferguson (NYSE:FERG) last announced 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. The company had revenue of $7.47 billion for the quarter. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.50 EPS. As a group, equities research analysts expect that Ferguson plc will post 11.26 earnings per share for the current year.

Ferguson announced that its board has authorized a stock repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis 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 research analysts recently issued reports on FERG shares. Barclays raised their target price on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Royal Bank Of Canada increased their price target on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Citigroup reissued a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Weiss Ratings downgraded Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Finally, Wells Fargo & Company lifted 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. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $277.58.

Ferguson 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.