Elevation Point Wealth Partners LLC grew its position in Ferguson plc (NYSE:FERG – Free Report) by 394.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,485 shares of the company’s stock after buying an additional 10,758 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Ferguson were worth $3,148,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in FERG. Basepoint Wealth LLC purchased a new stake in shares of Ferguson in the 4th quarter valued at approximately $26,000. Leonteq Securities AG purchased a new position in Ferguson during the 4th quarter worth approximately $26,000. Central Pacific Bank Trust Division purchased a new position in Ferguson during the 4th quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in Ferguson during the 3rd quarter valued at $28,000. Finally, Zions Bancorporation National Association UT raised its stake in Ferguson by 123.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.
Ferguson Stock Down 0.0%
Ferguson stock opened at $230.22 on Friday. 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 0.68, a quick ratio of 0.96 and a current ratio of 1.78. The firm has a market cap of $44.65 billion, a PE ratio of 26.77, a P/E/G ratio of 1.63 and a beta of 1.13. The firm’s 50 day moving average price is $235.86 and its two-hundred day moving average price is $240.20.
Ferguson declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Ferguson Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th 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 is Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is currently 41.40%.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on FERG. Barclays increased their target price on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Royal Bank Of Canada upped their price target on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Weiss Ratings raised Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. Wells Fargo & Company raised their price objective on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, Citigroup restated 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, ten have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $277.58.
Get Our Latest Analysis on Ferguson
Ferguson Company 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.
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