Rockefeller Capital Management L.P. Buys 2,196 Shares of Ferguson plc $FERG

Rockefeller Capital Management L.P. grew its stake in shares of Ferguson plc (NYSE:FERG) by 83.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,815 shares of the company’s stock after buying an additional 2,196 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Ferguson were worth $1,072,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Leonteq Securities AG acquired a new stake in shares of Ferguson in the 4th quarter valued at about $26,000. Basepoint Wealth LLC acquired a new position in Ferguson during the 4th quarter worth approximately $26,000. Central Pacific Bank Trust Division acquired a new position in Ferguson during the 4th quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL bought a new position in Ferguson in the third quarter worth approximately $28,000. Finally, Grove Bank & Trust boosted its holdings in Ferguson by 154.4% in the fourth quarter. Grove Bank & Trust now owns 145 shares of the company’s stock worth $32,000 after acquiring an additional 88 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of FERG opened at $230.22 on Friday. The firm has a market capitalization of $44.65 billion, a P/E ratio of 26.77, a P/E/G ratio of 1.62 and a beta of 1.13. Ferguson plc has a 52 week low of $207.64 and a 52 week high of $271.64. The stock has a 50 day moving average price of $236.50 and a two-hundred day moving average price of $240.27. 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 (NYSE:FERG) last posted its earnings results 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. The company had revenue of $7.47 billion for 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 quarter in the prior year, the business earned $2.50 EPS. Equities analysts forecast that Ferguson plc will post 11.26 earnings per share for the current fiscal year.

Ferguson announced that its board has initiated a stock buyback program on Tuesday, May 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Ferguson Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Weiss Ratings downgraded Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Barclays increased their target price on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Royal Bank Of Canada lifted their price target on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Wells Fargo & Company boosted their price target 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. Finally, Citigroup restated a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Ferguson currently has a consensus rating of “Moderate Buy” and an average target price of $277.58.

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.