Weiss Asset Management LP Purchases Shares of 2,486 Ferguson plc $FERG

Weiss Asset Management LP acquired a new position in shares of Ferguson plc (NYSE:FERG) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,486 shares of the company’s stock, valued at approximately $580,000.

A number of other large investors have also made changes to their positions in the stock. OMERS ADMINISTRATION Corp lifted its stake in shares of Ferguson by 105.4% in the first quarter. OMERS ADMINISTRATION Corp now owns 17,444 shares of the company’s stock valued at $4,069,000 after buying an additional 8,951 shares during the period. Van Diest Capital LLC bought a new position in Ferguson during the first quarter valued at about $236,000. Lombard Odier Asset Management Switzerland SA bought a new position in Ferguson during the first quarter valued at about $243,000. Lombard Odier Asset Management USA Corp acquired a new position in Ferguson in the 1st quarter valued at approximately $242,000. Finally, Cumberland Partners Ltd raised its holdings in Ferguson by 631.4% in the 1st quarter. Cumberland Partners Ltd now owns 16,419 shares of the company’s stock valued at $3,830,000 after acquiring an additional 14,174 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FERG. Zelman & Associates raised Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price objective on the stock in a report on Friday, July 17th. Citigroup restated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Weiss Ratings raised Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Barclays lifted their price target on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Royal Bank Of Canada boosted their price target on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. One investment 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $277.21.

Ferguson Price Performance

Ferguson stock opened at $233.79 on Tuesday. The business has a 50 day simple moving average of $230.08 and a 200 day simple moving average of $240.59. 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 company has a market capitalization of $45.34 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.63 and a beta of 1.13. Ferguson plc has a one year low of $207.64 and a one year high of $271.64.

Ferguson (NYSE:FERG) last announced 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. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The firm had revenue of $7.47 billion for the quarter. During the same quarter last year, the company earned $2.50 earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts forecast that Ferguson plc will post 11.3 EPS for the current fiscal year.

Ferguson declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

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 issued a $0.89 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. Ferguson’s dividend payout ratio is presently 41.40%.

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.