Manchester Global Management UK Ltd Grows Holdings in Ferguson plc $FERG

Manchester Global Management UK Ltd grew its stake in shares of Ferguson plc (NYSE:FERG) by 31.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 275,616 shares of the company’s stock after purchasing an additional 65,467 shares during the quarter. Ferguson accounts for 8.3% of Manchester Global Management UK Ltd’s holdings, making the stock its 2nd largest position. Manchester Global Management UK Ltd’s holdings in Ferguson were worth $61,360,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raiffeisen Bank International AG raised its position in shares of Ferguson by 350,745.0% during the fourth quarter. Raiffeisen Bank International AG now owns 522,759 shares of the company’s stock valued at $116,382,000 after buying an additional 522,610 shares during the last quarter. Kinetic Partners Management LP raised its position in shares of Ferguson by 53.4% during the third quarter. Kinetic Partners Management LP now owns 349,000 shares of the company’s stock valued at $78,378,000 after buying an additional 121,500 shares during the last quarter. Marsico Capital Management LLC bought a new stake in shares of Ferguson during the fourth quarter valued at approximately $11,017,000. Fieldview Capital Management LLC bought a new stake in shares of Ferguson during the third quarter valued at approximately $3,258,000. Finally, Clifford Swan Investment Counsel LLC raised its position in shares of Ferguson by 3.0% during the third quarter. Clifford Swan Investment Counsel LLC now owns 74,900 shares of the company’s stock valued at $16,821,000 after buying an additional 2,208 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Trading Down 0.3%

Shares of FERG opened at $234.94 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78. Ferguson plc has a fifty-two week low of $207.64 and a fifty-two week high of $271.64. The stock has a market capitalization of $45.56 billion, a PE ratio of 27.32, a P/E/G ratio of 1.67 and a beta of 1.15. The company’s fifty day moving average is $240.99 and its 200 day moving average is $240.86.

Ferguson (NYSE:FERG) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, beating 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 business had revenue of $7.47 billion for the quarter. During the same quarter last year, the firm earned $2.50 EPS. The company’s revenue was up 3.6% on a year-over-year basis. Sell-side analysts expect that Ferguson plc will post 11.26 earnings per share for the current fiscal year.

Ferguson declared that its board has authorized a share buyback plan on Tuesday, May 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders 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 41.40%.

Analysts Set New Price Targets

FERG has been the topic of several research reports. Jefferies Financial Group restated a “buy” rating and issued a $300.00 price target on shares of Ferguson in a research report on Tuesday, February 24th. Royal Bank Of Canada boosted their price target on shares of Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Barclays boosted their price target on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. 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, Wells Fargo & Company boosted their price target on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $277.77.

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.