Applied Finance Capital Management LLC Takes $649,000 Position in Ferguson plc $FERG

Applied Finance Capital Management LLC purchased a new position in Ferguson plc (NYSE:FERG) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,783 shares of the company’s stock, valued at approximately $649,000.

Other large investors have also recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. bought a new stake in Ferguson in the first quarter worth $948,000. Fifth Third Bancorp raised its holdings in Ferguson by 2,762.3% in the 1st quarter. Fifth Third Bancorp now owns 6,612 shares of the company’s stock worth $1,542,000 after purchasing an additional 6,381 shares in the last quarter. Markel Group Inc. boosted its position in Ferguson by 4.4% during the 1st quarter. Markel Group Inc. now owns 170,700 shares of the company’s stock valued at $39,817,000 after acquiring an additional 7,200 shares in the last quarter. Simplicity Wealth LLC lifted its position in Ferguson by 2.7% during the first quarter. Simplicity Wealth LLC now owns 3,217 shares of the company’s stock valued at $751,000 after buying an additional 85 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in Ferguson by 9.4% in the first quarter. Sequoia Financial Advisors LLC now owns 7,717 shares of the company’s stock worth $1,800,000 after purchasing an additional 665 shares during the period. 81.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Weiss Ratings raised shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Royal Bank Of Canada lifted their target price on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Barclays increased their price objective on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Wells Fargo & Company boosted their price target on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, The Goldman Sachs Group cut shares of Ferguson from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $315.00 to $265.00 in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $276.61.

Ferguson Trading Up 2.8%

FERG opened at $233.93 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $45.37 billion, a P/E ratio of 27.20, a PEG ratio of 1.61 and a beta of 1.13. The stock’s fifty day moving average is $231.60 and its two-hundred day moving average is $240.29. Ferguson plc has a 52 week low of $207.64 and a 52 week high of $271.64.

Ferguson (NYSE:FERG) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.14. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The company had revenue of $7.47 billion for the quarter. During the same period in the previous year, the business earned $2.50 EPS. Ferguson’s revenue for the quarter was up 3.6% compared to the same quarter last year. Analysts forecast that Ferguson plc will post 11.26 earnings per share for the current year.

Ferguson Dividend Announcement

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

Ferguson declared that its board has initiated a stock repurchase plan on Tuesday, May 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.