Ferguson plc $FERG Shares Acquired by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC boosted its stake in Ferguson plc (NYSE:FERG) by 394.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,485 shares of the company’s stock after buying an additional 10,758 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Ferguson were worth $3,148,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of Ferguson by 150.8% in the 4th quarter. Wellington Management Group LLP now owns 9,366,465 shares of the company’s stock worth $2,085,256,000 after acquiring an additional 5,631,554 shares during the period. Norges Bank acquired a new position in shares of Ferguson during the fourth quarter valued at approximately $498,005,000. Durable Capital Partners LP acquired a new position in shares of Ferguson during the third quarter valued at approximately $244,561,000. Qube Research & Technologies Ltd increased its stake in shares of Ferguson by 588.1% during the third quarter. Qube Research & Technologies Ltd now owns 1,087,523 shares of the company’s stock valued at $244,236,000 after acquiring an additional 929,475 shares during the period. Finally, 59 North Capital Management LP raised its holdings in Ferguson by 114.7% during the third quarter. 59 North Capital Management LP now owns 1,255,137 shares of the company’s stock worth $281,879,000 after purchasing an additional 670,473 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Barclays upped 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. Wells Fargo & Company boosted 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. Weiss Ratings upgraded Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. Royal Bank Of Canada raised their target price on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and an average target price of $277.58.

Ferguson Trading Down 0.0%

Shares of NYSE:FERG opened at $230.22 on Friday. The stock has a market capitalization of $44.65 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 1.63 and a beta of 1.13. 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 quick ratio of 0.96 and a current ratio of 1.78. The company has a 50 day moving average price of $235.86 and a 200 day moving average price of $240.20.

Ferguson (NYSE:FERG) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.14. The firm had revenue of $7.47 billion for the quarter. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.50 EPS. On average, research analysts anticipate that Ferguson plc will post 11.26 EPS for the current fiscal year.

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

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th will be issued a $0.89 dividend. 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 payout ratio is presently 41.40%.

About Ferguson

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.