Ferguson plc (NASDAQ:FERG) Shares Acquired by Cannon Global Investment Management LLC

Cannon Global Investment Management LLC boosted its holdings in shares of Ferguson plc (NASDAQ:FERG) by 205.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,100 shares of the company’s stock after acquiring an additional 4,100 shares during the quarter. Ferguson accounts for about 2.3% of Cannon Global Investment Management LLC’s portfolio, making the stock its 7th largest position. Cannon Global Investment Management LLC’s holdings in Ferguson were worth $1,059,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its stake in Ferguson by 0.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 23,834 shares of the company’s stock worth $4,137,000 after acquiring an additional 86 shares in the last quarter. Caprock Group LLC raised its holdings in shares of Ferguson by 2.8% in the fourth quarter. Caprock Group LLC now owns 3,496 shares of the company’s stock valued at $610,000 after purchasing an additional 94 shares during the last quarter. Commerce Bank raised its holdings in shares of Ferguson by 3.8% in the third quarter. Commerce Bank now owns 2,666 shares of the company’s stock valued at $529,000 after purchasing an additional 97 shares during the last quarter. Assetmark Inc. grew its position in Ferguson by 41.1% during the fourth quarter. Assetmark Inc. now owns 333 shares of the company’s stock valued at $58,000 after buying an additional 97 shares during the period. Finally, Inspire Advisors LLC grew its position in Ferguson by 3.7% during the fourth quarter. Inspire Advisors LLC now owns 3,001 shares of the company’s stock valued at $521,000 after buying an additional 108 shares during the period. 81.98% of the stock is owned by institutional investors.

Ferguson Trading Down 1.0 %

Ferguson stock opened at $162.27 on Monday. Ferguson plc has a 52 week low of $152.52 and a 52 week high of $225.63. The company has a market capitalization of $32.45 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. The stock has a 50-day moving average price of $175.01 and a 200 day moving average price of $188.61. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83.

Ferguson (NASDAQ:FERG) last announced its earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.06). Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same period in the previous year, the company earned $1.74 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Sell-side analysts anticipate that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Friday, March 21st. Ferguson’s payout ratio is currently 40.84%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FERG. Morgan Stanley initiated coverage on shares of Ferguson in a research report on Monday, February 3rd. They set an “overweight” rating and a $204.00 target price for the company. Citigroup lowered their target price on shares of Ferguson from $189.00 to $168.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. Wolfe Research assumed coverage on shares of Ferguson in a research note on Monday, March 17th. They set a “peer perform” rating on the stock. Bank of America raised shares of Ferguson from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $185.00 to $225.00 in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $189.00 target price on shares of Ferguson in a research note on Tuesday, March 18th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $200.67.

Ferguson Profile

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.