GFI Investment Counsel Ltd. Has $64.09 Million Stock Holdings in Ferguson plc $FERG

GFI Investment Counsel Ltd. increased its position in Ferguson plc (NYSE:FERG) by 1.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 287,873 shares of the company’s stock after acquiring an additional 4,363 shares during the quarter. Ferguson comprises approximately 6.8% of GFI Investment Counsel Ltd.’s holdings, making the stock its 7th biggest position. GFI Investment Counsel Ltd. owned about 0.15% of Ferguson worth $64,089,000 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 FERG. Leonteq Securities AG bought a new position in shares of Ferguson in the fourth quarter worth approximately $26,000. Basepoint Wealth LLC bought a new stake in shares of Ferguson during the 4th quarter valued at $26,000. Central Pacific Bank Trust Division purchased a new position in shares of Ferguson during the 4th quarter valued at $27,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Ferguson during the 3rd quarter valued at $28,000. Finally, Grove Bank & Trust lifted its stake in shares of Ferguson by 154.4% during the 4th quarter. Grove Bank & Trust now owns 145 shares of the company’s stock valued at $32,000 after buying an additional 88 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Up 4.1%

Shares of FERG stock opened at $239.04 on Friday. The stock has a market cap of $46.36 billion, a P/E ratio of 27.80, a PEG ratio of 1.63 and a beta of 1.15. Ferguson plc has a 52 week low of $207.64 and a 52 week high of $271.64. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $240.87 and its two-hundred day simple moving average is $240.61.

Ferguson (NYSE:FERG) last released its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.14 by $0.14. The business had revenue of $7.47 billion during the quarter. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the company earned $2.50 EPS. Analysts predict that Ferguson plc will post 11.26 EPS for the current fiscal year.

Ferguson declared that its board has authorized a stock repurchase plan on Tuesday, May 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. Ferguson’s dividend payout ratio is presently 41.40%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FERG shares. Jefferies Financial Group reiterated a “buy” rating and issued a $300.00 price target on shares of Ferguson in a research note on Tuesday, February 24th. Citigroup restated a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Barclays upped their price objective on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. UBS Group lifted their target price on Ferguson from $220.00 to $252.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Finally, Weiss Ratings downgraded Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and an average target price of $277.58.

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.