Sycale Advisors NY LLC purchased a new stake in shares of Ferguson plc (NYSE:FERG – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 9,990 shares of the company’s stock, valued at approximately $2,330,000. Ferguson makes up about 1.2% of Sycale Advisors NY LLC’s investment portfolio, making the stock its 15th biggest position.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Ferguson by 23.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock worth $2,445,000 after buying an additional 2,940 shares during the period. Caxton Associates LLP acquired a new position in Ferguson in the 1st quarter valued at approximately $310,000. Focus Partners Wealth increased its position in Ferguson by 22.7% in the 1st quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock valued at $503,000 after acquiring an additional 581 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Ferguson during the second quarter valued at $257,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Ferguson by 7.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock valued at $150,000 after acquiring an additional 48 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors.
Ferguson Stock Up 1.5%
Shares of NYSE:FERG opened at $229.96 on Thursday. Ferguson plc has a 1 year low of $207.64 and a 1 year 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 business’s 50-day moving average is $229.73 and its 200-day moving average is $240.49. The company has a market capitalization of $44.60 billion, a price-to-earnings ratio of 26.74, a P/E/G ratio of 1.60 and a beta of 1.13.
Ferguson announced that its board has authorized a stock repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
Ferguson Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th were issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, May 15th. Ferguson’s dividend payout ratio is presently 41.40%.
Analysts Set New Price Targets
Several analysts recently weighed in on FERG shares. Zelman & Associates raised shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price objective on the stock in a research note on Friday, July 17th. The Goldman Sachs Group lowered Ferguson from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $315.00 to $265.00 in a research report on Monday, July 6th. 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. Weiss Ratings upgraded Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Finally, Royal Bank Of Canada upped their target price on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $277.21.
Get Our Latest Research Report on FERG
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.
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