D.A. Davidson & CO. Boosts Holdings in Ferguson plc $FERG

D.A. Davidson & CO. increased its position in Ferguson plc (NYSE:FERG) by 11.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,383 shares of the company’s stock after acquiring an additional 3,400 shares during the period. D.A. Davidson & CO.’s holdings in Ferguson were worth $8,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Signaturefd LLC grew its position in shares of Ferguson by 1.1% in the fourth quarter. Signaturefd LLC now owns 3,979 shares of the company’s stock valued at $886,000 after purchasing an additional 44 shares during the period. Simplicity Wealth LLC increased its position in shares of Ferguson by 1.6% during the fourth quarter. Simplicity Wealth LLC now owns 3,132 shares of the company’s stock valued at $697,000 after acquiring an additional 48 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Ferguson by 2.9% in the fourth quarter. Sivia Capital Partners LLC now owns 1,685 shares of the company’s stock valued at $375,000 after purchasing an additional 48 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Ferguson by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock worth $150,000 after purchasing an additional 48 shares during the period. Finally, REAP Financial Group LLC increased its position in shares of Ferguson by 13.4% in the 4th quarter. REAP Financial Group LLC now owns 431 shares of the company’s stock valued at $96,000 after purchasing an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Trading Down 1.2%

FERG stock opened at $231.39 on Friday. Ferguson plc has a fifty-two week low of $207.64 and a fifty-two week high of $271.64. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96. The business has a fifty day moving average price of $230.34 and a 200 day moving average price of $240.30. The stock has a market capitalization of $44.88 billion, a price-to-earnings ratio of 26.91, a P/E/G ratio of 1.66 and a beta of 1.13.

Ferguson (NYSE:FERG) last posted its quarterly 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 business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the company earned $2.50 EPS. Analysts expect that Ferguson plc will post 11.27 EPS for the current fiscal year.

Ferguson Announces Dividend

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

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

Wall Street Analysts Forecast Growth

FERG has been the subject of a number of research reports. The Goldman Sachs Group cut shares of Ferguson from a “buy” rating to a “neutral” rating and reduced their target price for the company from $315.00 to $265.00 in a report on Monday, July 6th. Weiss Ratings upgraded Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Wells Fargo & Company raised 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. Citigroup restated a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada boosted their price objective on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Ferguson currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.21.

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.