Baer Investment Advisory LLC Takes Position in Ferguson plc $FERG

Baer Investment Advisory LLC bought a new position in Ferguson plc (NYSE:FERG) in the first quarter, Holdings Channel reports. The firm bought 2,439 shares of the company’s stock, valued at approximately $569,000.

Other hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ferguson by 23.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock worth $2,445,000 after buying an additional 2,940 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of Ferguson during the first quarter worth $310,000. Focus Partners Wealth grew its holdings in shares of Ferguson by 22.7% during the first quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock valued at $503,000 after buying an additional 581 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Ferguson in the 2nd quarter valued at $257,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of 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 during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Down 0.0%

Shares of FERG stock opened at $230.22 on Friday. The stock has a 50 day moving average of $235.86 and a 200 day moving average of $240.20. 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 market cap of $44.65 billion, a P/E ratio of 26.77, a P/E/G ratio of 1.63 and a beta of 1.13. Ferguson plc has a twelve month low of $207.64 and a twelve month high of $271.64.

Ferguson (NYSE:FERG) last released its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.14 by $0.14. The business 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 company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.50 EPS. As a group, sell-side analysts expect that Ferguson plc will post 11.26 EPS for the current year.

Ferguson declared that its board has authorized a share repurchase plan on Tuesday, May 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Ferguson Dividend Announcement

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. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. Ferguson’s dividend payout ratio is 41.40%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Weiss Ratings raised Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. Wells Fargo & Company raised 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. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Barclays upped their target price on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Royal Bank Of Canada raised their price target on shares of Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. One research 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 presently has a consensus rating of “Moderate Buy” and an average target price 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.