Marsico Capital Management LLC Makes New Investment in Ferguson plc $FERG

Marsico Capital Management LLC acquired a new position in shares of Ferguson plc (NYSE:FERG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 49,487 shares of the company’s stock, valued at approximately $11,017,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Ferguson by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 19,418,334 shares of the company’s stock worth $4,323,104,000 after purchasing an additional 102,850 shares during the last quarter. State Street Corp grew its position in Ferguson by 1.9% during the 3rd quarter. State Street Corp now owns 4,437,468 shares of the company’s stock worth $1,000,152,000 after purchasing an additional 81,094 shares during the last quarter. Franklin Resources Inc. grew its position in Ferguson by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 4,393,603 shares of the company’s stock worth $977,959,000 after purchasing an additional 25,785 shares during the last quarter. Wellington Management Group LLP grew its position in Ferguson by 22.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,734,911 shares of the company’s stock worth $838,786,000 after purchasing an additional 682,666 shares during the last quarter. Finally, Soroban Capital Partners LP lifted its stake in shares of Ferguson by 2.8% in the 2nd quarter. Soroban Capital Partners LP now owns 3,705,056 shares of the company’s stock worth $806,776,000 after acquiring an additional 100,559 shares during the period. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Stock Performance

Shares of NYSE FERG opened at $227.40 on Friday. The company has a market cap of $44.10 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 1.59 and a beta of 1.15. Ferguson plc has a 12 month low of $207.64 and a 12 month high of $271.64. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96. The company has a 50-day simple moving average of $241.17 and a 200-day simple moving average of $241.15.

Ferguson (NYSE:FERG) last released its earnings results 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. The firm 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%. Ferguson’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.50 earnings per share. On average, equities analysts anticipate that Ferguson plc will post 11.26 earnings per share for the current year.

Ferguson declared that its board has approved a stock buyback plan 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 plans are generally an indication that the company’s management believes its shares are undervalued.

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders 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 annualized dividend and a yield of 1.6%. Ferguson’s dividend payout ratio (DPR) is presently 41.40%.

Analyst Ratings Changes

Several brokerages recently commented on FERG. Truist Financial raised their price objective on shares of Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Citigroup restated a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Wells Fargo & Company lifted their target price on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Jefferies Financial Group restated a “buy” rating and set a $300.00 target price on shares of Ferguson in a research report on Tuesday, February 24th. Finally, Barclays lifted their target price on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.77.

Ferguson 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.