Empowered Funds LLC Increases Position in Ferguson plc $FERG

Empowered Funds LLC lifted its position in Ferguson plc (NYSE:FERG) by 22.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,435 shares of the company’s stock after acquiring an additional 5,122 shares during the period. Empowered Funds LLC’s holdings in Ferguson were worth $6,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in Ferguson by 150.8% during the 4th quarter. Wellington Management Group LLP now owns 9,366,465 shares of the company’s stock valued at $2,085,256,000 after purchasing an additional 5,631,554 shares during the last quarter. Norges Bank purchased a new stake in Ferguson in the fourth quarter valued at approximately $498,005,000. Durable Capital Partners LP acquired a new position in Ferguson in the 3rd quarter worth approximately $244,561,000. Qube Research & Technologies Ltd raised its position in Ferguson by 588.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,087,523 shares of the company’s stock worth $244,236,000 after buying an additional 929,475 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its stake in Ferguson by 502.8% during the 3rd quarter. Voloridge Investment Management LLC now owns 765,725 shares of the company’s stock valued at $171,967,000 after acquiring an additional 638,692 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

NYSE FERG opened at $234.49 on Friday. The stock has a market capitalization of $45.48 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 1.60 and a beta of 1.13. The stock has a 50-day moving average of $230.62 and a 200 day moving average of $240.52. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68. Ferguson plc has a twelve month low of $207.64 and a twelve month high of $271.64.

Ferguson (NYSE:FERG) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.14. The business had revenue of $7.47 billion during the quarter. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.50 earnings per share. Sell-side analysts anticipate that Ferguson plc will post 11.25 EPS for the current fiscal year.

Ferguson announced that its board has approved a share repurchase program on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

FERG has been the subject of a number of research reports. Barclays boosted their target price on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Citigroup reiterated 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 report on Thursday, July 2nd. The Goldman Sachs Group lowered Ferguson from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $315.00 to $265.00 in a report on Monday, July 6th. Finally, Zelman & Associates upgraded Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price target for the company in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $277.21.

Ferguson Company 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.