Y Intercept Hong Kong Ltd Takes $2.25 Million Position in Ferguson plc $FERG

Y Intercept Hong Kong Ltd bought a new position in shares of Ferguson plc (NYSE:FERG) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 9,651 shares of the company’s stock, valued at approximately $2,251,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Basepoint Wealth LLC bought a new position in shares of Ferguson during the fourth quarter valued at $26,000. Leonteq Securities AG bought a new stake in shares of Ferguson in the fourth quarter worth $26,000. Central Pacific Bank Trust Division acquired a new stake in Ferguson in the fourth quarter valued at $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in Ferguson in the third quarter valued at $28,000. Finally, Zions Bancorporation National Association UT raised its position in Ferguson by 123.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock worth $32,000 after purchasing an additional 79 shares during the last quarter. 81.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FERG has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. The Goldman Sachs Group downgraded Ferguson from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $315.00 to $265.00 in a research report on Monday. Weiss Ratings raised Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Barclays increased their target price on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Citigroup restated a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Ferguson presently has a consensus rating of “Moderate Buy” and an average target price of $276.61.

Ferguson Stock Performance

Shares of Ferguson stock opened at $221.64 on Thursday. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $233.52 and a two-hundred day moving average price of $240.29. Ferguson plc has a 1-year low of $207.64 and a 1-year high of $271.64. The company has a market cap of $42.98 billion, a P/E ratio of 25.77, a PEG ratio of 1.58 and a beta of 1.13.

Ferguson (NYSE:FERG) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.14. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The company had revenue of $7.47 billion for the quarter. During the same period in the prior year, the firm earned $2.50 earnings per share. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, analysts anticipate that Ferguson plc will post 11.26 EPS for the current year.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, May 15th. Ferguson’s payout ratio is presently 41.40%.

Ferguson declared that its board has initiated a share repurchase program on Tuesday, May 5th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are 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.