Assetmark Inc. Buys 47,498 Shares of Ferguson plc $FERG

Assetmark Inc. lifted its stake in shares of Ferguson plc (NYSE:FERG) by 155.4% during the first quarter, Holdings Channel.com reports. The firm owned 78,062 shares of the company’s stock after acquiring an additional 47,498 shares during the period. Assetmark Inc.’s holdings in Ferguson were worth $18,209,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Leonteq Securities AG acquired a new position in shares of Ferguson during the fourth quarter worth approximately $26,000. Basepoint Wealth LLC acquired a new position in Ferguson during the fourth quarter worth $26,000. Central Pacific Bank Trust Division acquired a new position in Ferguson during the fourth quarter worth $27,000. Grove Bank & Trust lifted 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 valued at $32,000 after buying an additional 88 shares in the last quarter. Finally, Zions Bancorporation National Association UT lifted its stake in shares of Ferguson by 123.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after buying an additional 79 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Stock Performance

Shares of FERG opened at $231.39 on Monday. 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 company has a market capitalization of $44.88 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 1.64 and a beta of 1.13. The stock has a 50 day moving average of $230.34 and a 200 day moving average of $240.39. Ferguson plc has a 12 month low of $207.64 and a 12 month high of $271.64.

Ferguson (NYSE:FERG) last announced its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.14. The firm had revenue of $7.47 billion during the quarter. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.50 earnings per share. As a group, sell-side analysts forecast that Ferguson plc will post 11.27 earnings per share for the current year.

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

Ferguson Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FERG shares. The Goldman Sachs Group downgraded shares of Ferguson from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $315.00 to $265.00 in a research report on Monday, July 6th. Barclays raised their price target on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Wells Fargo & Company lifted their price target on Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings raised Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Finally, Zelman & Associates upgraded Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 target price on the stock in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.21.

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.