K.J. Harrison & Partners Inc Invests $1.51 Million in Ferguson plc (NASDAQ:FERG)

K.J. Harrison & Partners Inc bought a new position in shares of Ferguson plc (NASDAQ:FERG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,800 shares of the company’s stock, valued at approximately $1,506,000.

A number of other hedge funds and other institutional investors have also modified their holdings of FERG. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Ferguson during the fourth quarter worth about $29,000. CVA Family Office LLC acquired a new position in Ferguson in the fourth quarter worth about $31,000. Private Trust Co. NA grew its stake in Ferguson by 146.1% in the fourth quarter. Private Trust Co. NA now owns 187 shares of the company’s stock worth $36,000 after purchasing an additional 111 shares in the last quarter. Milestone Investment Advisors LLC acquired a new position in Ferguson in the third quarter worth about $47,000. Finally, Lindbrook Capital LLC grew its stake in Ferguson by 150.0% in the third quarter. Lindbrook Capital LLC now owns 320 shares of the company’s stock worth $53,000 after purchasing an additional 192 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wells Fargo & Company upgraded Ferguson from an “equal weight” rating to an “overweight” rating in a research note on Thursday, January 4th. Raymond James downgraded Ferguson from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $166.50.

Ferguson Stock Performance

FERG stock traded up $0.50 during midday trading on Friday, reaching $213.33. The company had a trading volume of 944,431 shares, compared to its average volume of 1,137,418. The company has a quick ratio of 0.97, a current ratio of 1.80 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average price of $212.10 and a 200 day moving average price of $189.42. Ferguson plc has a fifty-two week low of $134.55 and a fifty-two week high of $224.86. The firm has a market capitalization of $43.27 billion, a PE ratio of 24.81, a P/E/G ratio of 8.74 and a beta of 1.27.

Ferguson (NASDAQ:FERG) last issued its earnings results on Tuesday, March 5th. The company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.08). The company had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.72 billion. Ferguson had a net margin of 6.00% and a return on equity of 37.99%. The business’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.91 earnings per share. Analysts anticipate that Ferguson plc will post 9.66 earnings per share for the current year.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 7th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.79 per share. The ex-dividend date is Thursday, March 14th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.48%. Ferguson’s dividend payout ratio (DPR) is presently 36.74%.

Ferguson Company Profile

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.