Lecap Asset Management Ltd. Grows Stock Holdings in Ferguson plc $FERG

Lecap Asset Management Ltd. increased its position in shares of Ferguson plc (NYSE:FERG) by 517.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,537 shares of the company’s stock after purchasing an additional 10,508 shares during the quarter. Ferguson makes up about 1.0% of Lecap Asset Management Ltd.’s holdings, making the stock its 10th biggest position. Lecap Asset Management Ltd.’s holdings in Ferguson were worth $2,816,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of FERG. True Wealth Design LLC grew its holdings in shares of Ferguson by 145.3% in the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock valued at $28,000 after acquiring an additional 77 shares in the last quarter. Hemington Wealth Management grew its stake in Ferguson by 51.5% in the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company’s stock valued at $33,000 after purchasing an additional 52 shares during the period. Fifth Third Bancorp increased its position in shares of Ferguson by 230.8% during the 2nd quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock valued at $37,000 after purchasing an additional 120 shares during the last quarter. Maseco LLP bought a new stake in shares of Ferguson during the 2nd quarter worth $40,000. Finally, Harbour Investments Inc. grew its position in Ferguson by 61.3% during the second quarter. Harbour Investments Inc. now owns 242 shares of the company’s stock valued at $53,000 after buying an additional 92 shares during the period. Institutional investors own 81.98% of the company’s stock.

Trending Headlines about Ferguson

Here are the key news stories impacting Ferguson this week:

• Positive Sentiment: Quarterly fundamentals beat consensus and showed revenue growth and strong ROE, supporting the company’s mid-cycle earnings resilience and helping justify current valuation despite recent share weakness.
• Neutral Sentiment: Market commentary piece reviews investor/short-seller sentiment toward Ferguson (Ferguson Enterprises / market views). This kind of analysis can influence near-term trading flows but does not change Ferguson plc’s reported results. What Does the Market Think About Ferguson Enterprises Inc?
• Neutral Sentiment: Local/state government story mentioning “Gov. Ferguson” (ferry plan) is unrelated to Ferguson plc’s business and should not affect the stock’s fundamentals. Gov. Ferguson’s ferry plan tested by three broken boats
• Neutral Sentiment: Several entertainment/celebrity articles reference Sarah Ferguson (royal family coverage) — not related to the company’s operations or outlook. Sarah Ferguson was ‘lonely, deeply unhappy’ in Andrew marriage Sarah Ferguson sets sights on new chapter amid Royal Lodge eviction Sarah Ferguson’s nickname for the late queen revealed
• Neutral Sentiment: Multiple sports stories concern people named Ferguson (Evan Ferguson, Sir Alex Ferguson comparisons, player paternity leave) and do not pertain to Ferguson plc’s business. These are unlikely to move the stock. Ferguson and Dovbyk fire Roma to win at Lecce Evan Ferguson scores as Roma move up to fourth Ferguson, Henry may take paternity leave during T20 World Cup

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ferguson in a research report on Wednesday, October 8th. Wall Street Zen upgraded Ferguson from a “hold” rating to a “buy” rating in a research note on Sunday, December 28th. Truist Financial increased their price objective on Ferguson from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Vertical Research started coverage on Ferguson in a research note on Monday, October 20th. They issued a “buy” rating and a $291.99 target price on the stock. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $243.00 price target on shares of Ferguson in a research note on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Ferguson presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.06.

Ferguson Stock Performance

Shares of FERG opened at $222.32 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88. The stock has a market capitalization of $43.48 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 1.89 and a beta of 1.18. Ferguson plc has a 52-week low of $146.00 and a 52-week high of $256.93. The stock’s 50-day simple moving average is $237.70 and its 200 day simple moving average is $231.81.

Ferguson (NYSE:FERG) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.07. Ferguson had a return on equity of 35.73% and a net margin of 6.28%.The firm had revenue of $8.17 billion for the quarter. During the same quarter in the prior year, the company earned $2.45 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis.

Ferguson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, January 2nd will be paid a $0.89 dividend. The ex-dividend date is Friday, January 2nd. This represents a $3.56 annualized dividend and a yield of 1.6%. This is a boost from Ferguson’s previous quarterly dividend of $0.83. Ferguson’s dividend payout ratio is currently 35.96%.

Insider Transactions at Ferguson

In other news, SVP Jake Schlicher sold 3,000 shares of the company’s stock in a transaction on Monday, October 13th. The shares were sold at an average price of $233.52, for a total value of $700,560.00. Following the transaction, the senior vice president owned 11,651 shares of the company’s stock, valued at approximately $2,720,741.52. This represents a 20.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ian T. Graham sold 4,864 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $233.22, for a total value of $1,134,382.08. Following the completion of the sale, the insider owned 7,769 shares in the company, valued at $1,811,886.18. This trade represents a 38.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 29,264 shares of company stock worth $6,853,349. 0.18% of the stock is owned by corporate insiders.

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.