Ferguson plc $FERG Shares Purchased by Cumberland Partners Ltd

Cumberland Partners Ltd increased its position in Ferguson plc (NYSE:FERG) by 631.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,419 shares of the company’s stock after acquiring an additional 14,174 shares during the period. Cumberland Partners Ltd’s holdings in Ferguson were worth $3,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FERG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Ferguson by 23.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock valued at $2,445,000 after purchasing an additional 2,940 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of Ferguson in the first quarter worth about $310,000. Focus Partners Wealth lifted its holdings in shares of Ferguson by 22.7% during the first quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock worth $503,000 after purchasing an additional 581 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Ferguson during the second quarter worth about $257,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Ferguson by 7.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock valued at $150,000 after buying an additional 48 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on FERG. Barclays increased their price target on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Wells Fargo & Company raised their target price on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Weiss Ratings raised shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. The Goldman Sachs Group downgraded Ferguson from a “buy” rating to a “neutral” rating and cut their price target for the stock from $315.00 to $265.00 in a research report on Monday, July 6th. Finally, Zelman & Associates raised Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price objective for the company in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $277.21.

Ferguson Stock Performance

FERG opened at $230.36 on Friday. The firm has a fifty day moving average price of $229.80 and a 200 day moving average price of $240.45. Ferguson plc has a 1 year low of $207.64 and a 1 year high of $271.64. The stock has a market cap of $44.68 billion, a P/E ratio of 26.79, a P/E/G ratio of 1.61 and a beta of 1.13. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96.

Ferguson (NYSE:FERG) last released its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.14 by $0.14. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The company had revenue of $7.47 billion for the quarter. During the same quarter in the prior year, the business posted $2.50 EPS. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. Equities research analysts anticipate that Ferguson plc will post 11.3 earnings per share for the current year.

Ferguson Dividend Announcement

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

Ferguson declared that its Board of Directors has authorized a stock buyback plan on Tuesday, May 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.