Ferguson plc $FERG Shares Acquired by Jones Financial Companies Lllp

Jones Financial Companies Lllp increased its position in shares of Ferguson plc (NYSE:FERG) by 13.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 96,108 shares of the company’s stock after purchasing an additional 11,196 shares during the quarter. Jones Financial Companies Lllp’s holdings in Ferguson were worth $22,932,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Basepoint Wealth LLC acquired a new stake in shares of Ferguson during the 4th quarter worth about $26,000. Leonteq Securities AG purchased a new position in Ferguson during the fourth quarter worth about $26,000. Compass Financial Management LLC purchased a new position in Ferguson during the second quarter worth about $32,000. 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. Finally, Johnson Financial Group Inc. acquired a new position in shares of Ferguson in the 3rd quarter worth approximately $34,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Stock Down 2.5%

FERG stock opened at $236.11 on Tuesday. The company’s 50 day moving average price is $237.19 and its 200 day moving average price is $240.24. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.73. Ferguson plc has a fifty-two week low of $207.64 and a fifty-two week high of $271.64. The firm has a market capitalization of $45.68 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 1.68 and a beta of 1.14.

Ferguson (NYSE:FERG) last released its quarterly earnings data on Monday, August 10th. The company reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.16. The business 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%. On average, equities research analysts anticipate that Ferguson plc will post 11.42 EPS for the current fiscal year.

Ferguson declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Ferguson Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on FERG shares. Citigroup reissued a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Zelman & Associates raised Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 target price on the stock in a research note on Friday, July 17th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $261.00 target price on shares of Ferguson in a report on Tuesday, August 18th. Barclays lifted their target price on Ferguson from $297.00 to $313.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company upped their target price on shares of Ferguson from $285.00 to $295.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and an average price target of $285.93.

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.