Entropy Technologies LP Sells 6,614 Shares of Ferguson plc $FERG

Entropy Technologies LP lowered its position in shares of Ferguson plc (NYSE:FERG) by 47.4% during the first quarter, HoldingsChannel.com reports. The fund owned 7,349 shares of the company’s stock after selling 6,614 shares during the quarter. Entropy Technologies LP’s holdings in Ferguson were worth $1,714,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Leonteq Securities AG bought a new stake in Ferguson in the fourth quarter valued at $26,000. Basepoint Wealth LLC bought a new stake in Ferguson during the 4th quarter valued at $26,000. Zions Bancorporation National Association UT raised its holdings in shares of Ferguson by 123.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock worth $32,000 after acquiring an additional 79 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Ferguson in the third quarter worth approximately $34,000. Finally, Cornerstone Planning Group LLC lifted its stake in Ferguson by 53.9% during the 4th quarter. Cornerstone Planning Group LLC now owns 197 shares of the company’s stock valued at $44,000 after acquiring an additional 69 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. The Goldman Sachs Group cut shares of Ferguson from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $315.00 to $265.00 in a research report on Monday, July 6th. Barclays upped their price target on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Zelman & Associates upgraded Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price target for the company in a research report on Friday, July 17th. Citigroup reiterated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada boosted their price objective on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $277.21.

Ferguson Stock Performance

Shares of FERG opened at $233.79 on Tuesday. Ferguson plc has a 12-month low of $207.64 and a 12-month high of $271.64. The company has a market cap of $45.34 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.63 and a beta of 1.13. 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 50-day moving average price of $230.08 and a 200-day moving average price of $240.59.

Ferguson (NYSE:FERG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The firm had revenue of $7.47 billion for the quarter. During the same period in the previous year, the company earned $2.50 EPS. Ferguson’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, equities analysts forecast that Ferguson plc will post 11.3 earnings per share for the current fiscal year.

Ferguson declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 5th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Ferguson Announces Dividend

The company 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 of this dividend was Friday, May 15th. This represents a $3.56 annualized dividend and a yield of 1.5%. Ferguson’s dividend payout ratio is currently 41.40%.

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.