Ferguson plc $FERG Position Increased by Findlay Park Partners LLP

Findlay Park Partners LLP boosted its position in shares of Ferguson plc (NYSE:FERG) by 24.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 618,810 shares of the company’s stock after purchasing an additional 122,100 shares during the period. Ferguson accounts for approximately 2.0% of Findlay Park Partners LLP’s portfolio, making the stock its 25th biggest position. Findlay Park Partners LLP owned about 0.32% of Ferguson worth $146,862,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. W1M Asset Management Ltd grew its stake in shares of Ferguson by 6.2% in the 2nd quarter. W1M Asset Management Ltd now owns 1,980,510 shares of the company’s stock valued at $469,945,000 after buying an additional 116,418 shares in the last quarter. George Kaiser Family Foundation acquired a new position in Ferguson in the second quarter worth approximately $233,000. TRB Wealth Management LLC bought a new position in Ferguson during the second quarter valued at approximately $204,000. Callan Family Office LLC raised its position in Ferguson by 7.9% during the second quarter. Callan Family Office LLC now owns 8,783 shares of the company’s stock valued at $2,085,000 after acquiring an additional 644 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. lifted its stake in Ferguson by 93.5% in the second quarter. Keating Financial Advisory Services Inc. now owns 296 shares of the company’s stock valued at $70,000 after acquiring an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Analysts Set New Price Targets

FERG has been the subject of several recent research reports. Barclays boosted their target price on shares of Ferguson from $297.00 to $313.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. The Goldman Sachs Group downgraded shares of Ferguson from a “buy” rating to a “neutral” rating and cut their price target for the company from $315.00 to $265.00 in a report on Monday, July 6th. Zelman & Associates raised shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price objective for the company in a research note on Friday, July 17th. Weiss Ratings upgraded shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Finally, Citigroup reissued a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Ferguson has an average rating of “Moderate Buy” and a consensus price target of $285.93.

Ferguson Stock Up 1.2%

FERG opened at $242.36 on Friday. The business has a 50 day moving average price of $237.18 and a 200 day moving average price of $240.50. Ferguson plc has a twelve month low of $207.64 and a twelve month high of $271.64. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.73. The firm has a market cap of $46.88 billion, a P/E ratio of 28.48, a price-to-earnings-growth ratio of 1.68 and a beta of 1.14.

Ferguson (NYSE:FERG) last announced its earnings results on Monday, August 10th. The company reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.16. Ferguson had a return on equity of 37.24% and a net margin of 6.82%.The firm had revenue of $8.75 billion during the quarter. Research analysts forecast that Ferguson plc will post 11.42 EPS for the current year.

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Friday, August 21st will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 21st. Ferguson’s dividend payout ratio is currently 41.83%.

Ferguson declared that its Board of Directors has approved a stock repurchase program on Tuesday, May 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.