Ferguson plc $FERG Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its position in Ferguson plc (NYSE:FERG) by 54.8% in the 4th quarter, HoldingsChannel reports. The firm owned 7,052 shares of the company’s stock after purchasing an additional 2,497 shares during the period. Sequoia Financial Advisors LLC’s holdings in Ferguson were worth $1,570,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC boosted its stake in shares of Ferguson by 1.1% during the 4th quarter. Signaturefd LLC now owns 3,979 shares of the company’s stock worth $886,000 after purchasing an additional 44 shares during the last quarter. Simplicity Wealth LLC lifted its stake in shares of Ferguson by 1.6% during the fourth quarter. Simplicity Wealth LLC now owns 3,132 shares of the company’s stock valued at $697,000 after buying an additional 48 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Ferguson by 7.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock worth $150,000 after acquiring an additional 48 shares during the last quarter. Founders Grove Wealth Partners LLC boosted its position in Ferguson by 4.2% during the fourth quarter. Founders Grove Wealth Partners LLC now owns 1,353 shares of the company’s stock worth $301,000 after acquiring an additional 55 shares during the last quarter. Finally, Triad Wealth Partners LLC grew its position in shares of Ferguson by 4.7% in the 4th quarter. Triad Wealth Partners LLC now owns 1,219 shares of the company’s stock worth $271,000 after acquiring an additional 55 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on FERG. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Oppenheimer raised their price target on shares of Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $300.00 price target on shares of Ferguson in a report on Tuesday, February 24th. UBS Group boosted their price objective on shares of Ferguson from $220.00 to $252.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Finally, Truist Financial raised their target price on shares of Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Ferguson currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.73.

Ferguson Stock Performance

FERG stock opened at $244.26 on Tuesday. The company has a 50-day simple moving average of $242.79 and a 200 day simple moving average of $244.08. The company has a market capitalization of $47.37 billion, a P/E ratio of 27.69, a PEG ratio of 1.71 and a beta of 1.23. The company has a quick ratio of 1.01, a current ratio of 1.88 and a debt-to-equity ratio of 0.68. Ferguson plc has a fifty-two week low of $173.53 and a fifty-two week high of $271.64.

Ferguson (NYSE:FERG) last released its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. The company had revenue of $7.47 billion for the quarter. Ferguson had a net margin of 6.98% and a return on equity of 38.92%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.50 earnings per share. Sell-side analysts predict that Ferguson plc will post 11.23 earnings per share for the current fiscal year.

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

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is presently 40.36%.

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.