Ferguson plc $FERG is Sone Capital Management LLC’s 8th Largest Position

Sone Capital Management LLC raised its holdings in shares of Ferguson plc (NYSE:FERGFree Report) by 18.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 119,297 shares of the company’s stock after purchasing an additional 18,965 shares during the quarter. Ferguson comprises about 2.2% of Sone Capital Management LLC’s holdings, making the stock its 8th biggest position. Sone Capital Management LLC’s holdings in Ferguson were worth $28,313,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Leonteq Securities AG purchased a new position in Ferguson in the 4th quarter worth approximately $26,000. Basepoint Wealth LLC acquired a new stake in shares of Ferguson in the fourth quarter valued at approximately $26,000. Compass Financial Management LLC acquired a new stake in shares of Ferguson in the second quarter valued at approximately $32,000. Zions Bancorporation National Association UT lifted its position in Ferguson by 123.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock worth $32,000 after buying an additional 79 shares in the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in Ferguson during the third quarter worth approximately $34,000. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Stock Down 2.5%

Shares of NYSE:FERG opened at $236.11 on Tuesday. The company has a market capitalization of $45.68 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 1.68 and a beta of 1.14. Ferguson plc has a 12-month low of $207.64 and a 12-month high of $271.64. The business has a 50-day moving average price of $237.19 and a 200 day moving average price of $240.24. The company has a current ratio of 1.73, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72.

Ferguson (NYSE:FERGGet Free Report) last posted its earnings results on Monday, August 10th. The company reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.16. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. The company had revenue of $8.75 billion for the quarter. Sell-side analysts expect that Ferguson plc will post 11.42 EPS for the current year.

Ferguson announced that its Board of Directors has initiated 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 buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Ferguson Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FERG shares. Sanford C. Bernstein boosted their price target on shares of Ferguson from $310.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. The Goldman Sachs Group lowered shares of Ferguson from a “buy” rating to a “neutral” rating and decreased their target price for the company from $315.00 to $265.00 in a report on Monday, July 6th. Weiss Ratings raised shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. UBS Group raised their price target on shares of Ferguson from $252.00 to $256.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Finally, Robert W. Baird lifted their price target on shares of Ferguson from $285.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Ferguson presently has a consensus rating of “Moderate Buy” and an average price target of $285.93.

Read Our Latest Research Report on FERG

Ferguson Profile

(Free Report)

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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Institutional Ownership by Quarter for Ferguson (NYSE:FERG)

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