Canal Capital Management LLC Has $6.42 Million Stock Holdings in Ferguson plc (NASDAQ:FERG)

Canal Capital Management LLC reduced its position in shares of Ferguson plc (NASDAQ:FERG) by 1.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 36,993 shares of the company’s stock after selling 359 shares during the period. Ferguson comprises about 1.0% of Canal Capital Management LLC’s portfolio, making the stock its 26th largest holding. Canal Capital Management LLC’s holdings in Ferguson were worth $6,421,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in FERG. Manchester Capital Management LLC lifted its position in shares of Ferguson by 906.7% during the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock valued at $26,000 after buying an additional 136 shares during the last quarter. Berbice Capital Management LLC bought a new stake in shares of Ferguson in the fourth quarter valued at approximately $35,000. Private Trust Co. NA boosted its holdings in Ferguson by 92.5% in the 4th quarter. Private Trust Co. NA now owns 258 shares of the company’s stock worth $45,000 after buying an additional 124 shares during the period. R Squared Ltd bought a new stake in Ferguson during the 4th quarter valued at $45,000. Finally, Assetmark Inc. boosted its holdings in shares of Ferguson by 41.1% in the fourth quarter. Assetmark Inc. now owns 333 shares of the company’s stock worth $58,000 after acquiring an additional 97 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FERG. Zelman & Associates lowered Ferguson from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 17th. Wells Fargo & Company upped their target price on shares of Ferguson from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, April 14th. Morgan Stanley initiated coverage on Ferguson in a research report on Monday, February 3rd. They issued an “overweight” rating and a $204.00 price objective on the stock. Bank of America raised shares of Ferguson from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $185.00 to $225.00 in a report on Wednesday, January 8th. Finally, Barclays dropped their target price on Ferguson from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $199.38.

Ferguson Stock Up 1.2 %

Shares of NASDAQ:FERG opened at $164.28 on Monday. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $225.63. The company has a market cap of $32.85 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 1.69 and a beta of 1.17. The company has a 50-day moving average price of $166.66 and a 200 day moving average price of $183.15.

Ferguson (NASDAQ:FERG) last issued its earnings results on Tuesday, March 11th. The company reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.06). Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.76 billion. During the same quarter in the prior year, the company earned $1.74 earnings per share. Ferguson’s revenue was up 3.0% on a year-over-year basis. As a group, equities research analysts predict that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, March 21st will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Friday, March 21st. Ferguson’s dividend payout ratio (DPR) is 40.84%.

Ferguson Company Profile

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.