HF Advisory Group LLC Purchases New Holdings in Ferguson plc $FERG

HF Advisory Group LLC acquired a new stake in shares of Ferguson plc (NYSE:FERG) in the first quarter, HoldingsChannel reports. The fund acquired 4,923 shares of the company’s stock, valued at approximately $1,148,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Leonteq Securities AG acquired a new position in shares of Ferguson in the 4th quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new stake in shares of Ferguson during the fourth quarter worth approximately $26,000. Central Pacific Bank Trust Division bought a new stake in shares of Ferguson in the fourth quarter worth $27,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Ferguson in the third quarter worth $28,000. Finally, Grove Bank & Trust increased 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 worth $32,000 after buying an additional 88 shares during the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Stock Performance

Shares of NYSE FERG opened at $238.08 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68. The firm’s 50-day moving average price is $238.71 and its two-hundred day moving average price is $240.14. Ferguson plc has a 52-week low of $207.64 and a 52-week high of $271.64. The stock has a market capitalization of $46.17 billion, a P/E ratio of 27.68, a P/E/G ratio of 1.70 and a beta of 1.15.

Ferguson (NYSE:FERG) last posted its earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.14 by $0.14. The company 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 firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the company posted $2.50 earnings per share. As a group, sell-side analysts forecast that Ferguson plc will post 11.26 earnings per share for the current year.

Ferguson announced that its Board of Directors has authorized a stock buyback program 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 programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Ferguson Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have commented on FERG shares. Barclays increased their price objective 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. Citigroup reissued a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Wells Fargo & Company upped their target price on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings cut shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Finally, Royal Bank Of Canada lifted their price target on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research note 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 given a Hold rating to the company. According to MarketBeat.com, Ferguson has an average rating of “Moderate Buy” and an average price target of $277.58.

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.