Montanova Capital LLC Boosts Stock Position in Ferguson plc $FERG

Montanova Capital LLC lifted its holdings in shares of Ferguson plc (NYSE:FERG) by 16.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 246,758 shares of the company’s stock after buying an additional 34,858 shares during the quarter. Ferguson makes up approximately 1.0% of Montanova Capital LLC’s investment portfolio, making the stock its 27th largest position. Montanova Capital LLC owned approximately 0.13% of Ferguson worth $58,563,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sivia Capital Partners LLC increased its holdings in Ferguson by 2.9% in the 4th quarter. Sivia Capital Partners LLC now owns 1,685 shares of the company’s stock worth $375,000 after acquiring an additional 48 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Ferguson by 7.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock valued at $150,000 after purchasing an additional 48 shares during the period. Wedbush Securities Inc. grew its position in shares of Ferguson by 4.3% in the second quarter. Wedbush Securities Inc. now owns 1,197 shares of the company’s stock valued at $284,000 after purchasing an additional 49 shares during the period. REAP Financial Group LLC increased its stake in shares of Ferguson by 13.4% during the fourth quarter. REAP Financial Group LLC now owns 431 shares of the company’s stock worth $96,000 after purchasing an additional 51 shares in the last quarter. Finally, L2 Asset Management LLC increased its stake in shares of Ferguson by 5.2% during the second quarter. L2 Asset Management LLC now owns 1,109 shares of the company’s stock worth $263,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FERG. Oppenheimer raised their price target on shares of Ferguson from $280.00 to $288.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Robert W. Baird boosted their price objective on Ferguson from $285.00 to $288.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada increased their target price on Ferguson from $281.00 to $290.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Zelman & Associates upgraded Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 target price on the stock in a research report on Friday, July 17th. Finally, Citigroup restated a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $285.93.

Ferguson Stock Performance

NYSE:FERG opened at $224.81 on Tuesday. The company’s 50-day moving average price is $236.68 and its 200-day moving average price is $239.20. The company has a current ratio of 1.73, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The company has a market cap of $43.49 billion, a P/E ratio of 26.42, a P/E/G ratio of 1.59 and a beta of 1.14. Ferguson plc has a twelve month low of $207.64 and a twelve month high of $271.64.

Ferguson (NYSE:FERG) last announced its quarterly earnings data on Monday, August 10th. The company reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.16. The company 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, sell-side analysts forecast that Ferguson plc will post 11.42 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Friday, August 21st will be given 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 1.6%. Ferguson’s dividend payout ratio is 41.83%.

Ferguson declared that its board has authorized a share buyback program on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in outstanding 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 board believes its stock is undervalued.

About Ferguson

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.