Calamos Advisors LLC Takes Position in Ferguson plc $FERG

Calamos Advisors LLC bought a new position in Ferguson plc (NYSE:FERG) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,584 shares of the company’s stock, valued at approximately $2,935,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Principal Financial Group Inc. increased its holdings in shares of Ferguson by 0.8% in the first quarter. Principal Financial Group Inc. now owns 21,498 shares of the company’s stock worth $5,015,000 after purchasing an additional 174 shares during the last quarter. J. Safra Sarasin Holding AG purchased a new stake in shares of Ferguson during the 1st quarter worth approximately $12,757,000. Applied Finance Capital Management LLC purchased a new stake in shares of Ferguson during the 1st quarter worth approximately $649,000. Ferguson Wellman Capital Management Inc. bought a new position in shares of Ferguson during the 1st quarter valued at approximately $948,000. Finally, Fifth Third Bancorp boosted its position in shares of Ferguson by 2,762.3% during the 1st quarter. Fifth Third Bancorp now owns 6,612 shares of the company’s stock valued at $1,542,000 after acquiring an additional 6,381 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Down 1.9%

Shares of NYSE:FERG opened at $230.30 on Thursday. The firm has a market capitalization of $44.66 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 1.66 and a beta of 1.13. The business has a 50 day simple moving average of $230.80 and a two-hundred day simple moving average of $240.32. Ferguson plc has a 1 year low of $207.64 and a 1 year 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 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, equities analysts predict that Ferguson plc will post 11.27 EPS for the current year.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th were paid a $0.89 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. Ferguson’s dividend payout ratio (DPR) is presently 41.40%.

Ferguson declared that its board has approved a share buyback program on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FERG shares. Citigroup reiterated a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Royal Bank Of Canada upped their target price on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Wells Fargo & Company increased their price target on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. The Goldman Sachs Group lowered Ferguson from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $315.00 to $265.00 in a research report on Monday, July 6th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $276.61.

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.