Ferguson Wellman Capital Management Inc. Makes New Investment in Ferguson plc $FERG

Ferguson Wellman Capital Management Inc. purchased a new position in shares of Ferguson plc (NYSE:FERG) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,066 shares of the company’s stock, valued at approximately $948,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Ferguson by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 19,418,334 shares of the company’s stock worth $4,323,104,000 after acquiring an additional 102,850 shares during the last quarter. Wellington Management Group LLP raised its holdings in Ferguson by 150.8% in the 4th quarter. Wellington Management Group LLP now owns 9,366,465 shares of the company’s stock valued at $2,085,256,000 after acquiring an additional 5,631,554 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Ferguson by 7.8% in the 4th quarter. Janus Henderson Group PLC now owns 5,981,791 shares of the company’s stock valued at $1,331,621,000 after acquiring an additional 434,650 shares during the last quarter. State Street Corp lifted its stake in shares of Ferguson by 1.8% during the 4th quarter. State Street Corp now owns 4,516,764 shares of the company’s stock worth $1,005,567,000 after purchasing an additional 79,296 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Ferguson by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 4,393,603 shares of the company’s stock worth $977,959,000 after purchasing an additional 25,785 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Trading Up 0.2%

Shares of FERG stock opened at $227.85 on Monday. The stock has a market cap of $44.19 billion, a price-to-earnings ratio of 26.49, a price-to-earnings-growth ratio of 1.61 and a beta of 1.13. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68. Ferguson plc has a fifty-two week low of $207.64 and a fifty-two week high of $271.64. The firm’s 50 day moving average price is $232.28 and its two-hundred day moving average price is $240.25.

Ferguson (NYSE:FERG) last released its quarterly earnings data 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. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The company had revenue of $7.47 billion during the quarter. During the same period in the previous year, the company earned $2.50 EPS. Ferguson’s revenue was up 3.6% on a year-over-year basis. On average, analysts anticipate that Ferguson plc will post 11.26 EPS for the current year.

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

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Friday, May 15th were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, May 15th. Ferguson’s dividend payout ratio is 41.40%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Wells Fargo & Company increased their target price on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. The Goldman Sachs Group lowered 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. Barclays lifted their price target on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, Weiss Ratings raised shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.