Ferguson plc $FERG Shares Purchased by Vise Technologies Inc.

Vise Technologies Inc. boosted its holdings in Ferguson plc (NYSE:FERG) by 56.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 7,305 shares of the company’s stock after buying an additional 2,633 shares during the period. Vise Technologies Inc.’s holdings in Ferguson were worth $1,734,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Leonteq Securities AG purchased a new stake in Ferguson during the fourth quarter worth approximately $26,000. Basepoint Wealth LLC acquired a new stake in shares of Ferguson in the fourth quarter worth $26,000. Zions Bancorporation National Association UT raised its stake in shares of Ferguson by 123.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after acquiring an additional 79 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of Ferguson in the 3rd quarter valued at $34,000. Finally, Eastern Bank acquired a new position in shares of Ferguson during the 2nd quarter valued at $42,000. 81.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FERG has been the subject of a number of research reports. Royal Bank Of Canada upped their price target on shares of Ferguson from $281.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. UBS Group raised their price objective on Ferguson from $252.00 to $256.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $261.00 price objective on shares of Ferguson in a research note on Tuesday. Oppenheimer increased their target price on Ferguson from $280.00 to $288.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Finally, The Goldman Sachs Group downgraded Ferguson from a “buy” rating to a “neutral” rating and dropped their target price for the company from $315.00 to $265.00 in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $285.93.

Ferguson Price Performance

FERG opened at $242.36 on Friday. Ferguson plc has a twelve month low of $207.64 and a twelve month high of $271.64. The firm has a market cap of $46.88 billion, a price-to-earnings ratio of 28.48, a PEG ratio of 1.66 and a beta of 1.14. The company has a current ratio of 1.73, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The company has a fifty day simple moving average of $237.18 and a 200 day simple moving average of $240.50.

Ferguson (NYSE:FERG) last posted its quarterly earnings data on Monday, August 10th. The company reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.16. The company had revenue of $8.75 billion during the quarter. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. Equities research analysts expect that Ferguson plc will post 11.42 EPS for the current fiscal year.

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

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Friday, August 21st will be issued a $0.89 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. Ferguson’s dividend payout ratio is currently 41.83%.

About Ferguson

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.