Kornitzer Capital Management Inc. KS Buys 9,506 Shares of Ferguson plc $FERG

Kornitzer Capital Management Inc. KS raised its stake in shares of Ferguson plc (NYSE:FERG) by 150.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 15,806 shares of the company’s stock after acquiring an additional 9,506 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Ferguson were worth $3,519,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. PFA Pension Forsikringsaktieselskab bought a new position in Ferguson during the 4th quarter valued at $65,301,000. Blalock Williams LLC increased its position in shares of Ferguson by 15.3% during the 4th quarter. Blalock Williams LLC now owns 1,387 shares of the company’s stock valued at $309,000 after purchasing an additional 184 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Ferguson by 230.0% during the 4th quarter. Fifth Third Bancorp now owns 231 shares of the company’s stock valued at $51,000 after purchasing an additional 161 shares during the last quarter. Danske Bank A S increased its position in shares of Ferguson by 11.0% during the 4th quarter. Danske Bank A S now owns 102,138 shares of the company’s stock valued at $22,739,000 after purchasing an additional 10,135 shares during the last quarter. Finally, Simplicity Wealth LLC increased its position in shares of Ferguson by 1.6% during the 4th quarter. Simplicity Wealth LLC now owns 3,132 shares of the company’s stock valued at $697,000 after purchasing an additional 48 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Truist Financial raised their target price on Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Jefferies Financial Group reaffirmed a “buy” rating and set a $300.00 target price on shares of Ferguson in a research report on Tuesday, February 24th. Morgan Stanley reaffirmed an “overweight” rating on shares of Ferguson in a research report on Tuesday, January 6th. Weiss Ratings raised Ferguson from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 20th. Finally, Oppenheimer raised their target price on Ferguson from $255.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $267.27.

Ferguson Trading Down 1.3%

Shares of FERG opened at $264.13 on Friday. The business has a 50-day moving average of $243.92 and a 200 day moving average of $243.79. Ferguson plc has a fifty-two week low of $166.04 and a fifty-two week high of $271.64. The firm has a market cap of $51.34 billion, a P/E ratio of 26.68, a price-to-earnings-growth ratio of 1.99 and a beta of 1.23. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88.

Ferguson (NYSE:FERG) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $1.99 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.25). Ferguson had a return on equity of 40.37% and a net margin of 6.93%.During the same period in the previous year, the business posted $1.52 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, research analysts forecast that Ferguson plc will post 11.2 EPS for the current year.

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.56 annualized dividend and a yield of 1.3%. Ferguson’s dividend payout ratio (DPR) is 35.96%.

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.