Beck Mack & Oliver LLC Has $190.56 Million Stake in Ferguson plc $FERG

Beck Mack & Oliver LLC trimmed its position in shares of Ferguson plc (NYSE:FERG) by 1.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 848,518 shares of the company’s stock after selling 13,366 shares during the quarter. Ferguson accounts for approximately 3.5% of Beck Mack & Oliver LLC’s investment portfolio, making the stock its 10th largest position. Beck Mack & Oliver LLC owned 0.43% of Ferguson worth $190,560,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Ferguson by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 19,341,871 shares of the company’s stock worth $4,211,692,000 after acquiring an additional 173,128 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Ferguson by 2.6% during the 3rd quarter. Franklin Resources Inc. now owns 4,367,818 shares of the company’s stock worth $980,921,000 after purchasing an additional 112,157 shares during the period. Wellington Management Group LLP grew its holdings in Ferguson by 22.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,734,911 shares of the company’s stock valued at $838,786,000 after purchasing an additional 682,666 shares during the last quarter. Soroban Capital Partners LP raised its position in Ferguson by 2.8% in the 2nd quarter. Soroban Capital Partners LP now owns 3,705,056 shares of the company’s stock worth $806,776,000 after purchasing an additional 100,559 shares during the period. Finally, Egerton Capital UK LLP raised its position in Ferguson by 16.4% in the 3rd quarter. Egerton Capital UK LLP now owns 2,600,224 shares of the company’s stock worth $583,958,000 after purchasing an additional 366,898 shares during the period. Institutional investors own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FERG shares. Oppenheimer boosted their target price on Ferguson from $255.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. UBS Group raised their price target on Ferguson from $220.00 to $252.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Jefferies Financial Group restated a “buy” rating and set a $300.00 price objective on shares of Ferguson in a report on Tuesday, February 24th. Wall Street Zen downgraded Ferguson from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Royal Bank Of Canada increased their target price on Ferguson from $247.00 to $271.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Ferguson has a consensus rating of “Moderate Buy” and an average price target of $268.93.

Key Headlines Impacting Ferguson

Here are the key news stories impacting Ferguson this week:

• Neutral Sentiment: Rebecca Ferguson (actor) confirms return window for Apple TV+ series “Silo” — entertainment press about the actress, not the company. Collider: Rebecca Ferguson on Silo
• Neutral Sentiment: Multiple outlets report Rebecca Ferguson discussing “Silo” Season 3 and Dune: Part 3 details — actor/entertainment coverage, unrelated to Ferguson plc. AOL: Silo Season 3
• Neutral Sentiment: Rebecca Ferguson appears on late-night TV (Seth Meyers) — celebrity appearance, no corporate link. MSN: Seth Meyers & Rebecca Ferguson
• Neutral Sentiment: Celebrity coverage of Sarah Ferguson (Duchess of York) — various human-interest and controversy stories (public apologies, social ties, living arrangements). These are reputational/celebrity items with no corporate relevance. Yahoo: Sarah Ferguson and Epstein
• Neutral Sentiment: Stories comparing Meghan Markle to Sarah Ferguson and articles about Priscilla Presley and Sarah Ferguson — entertainment/viral coverage, not company news. MSN: Meghan Markle comparison
• Neutral Sentiment: Reports on Sarah Ferguson’s personal comments about other celebrities and alleged tensions with the royal family — tabloid/celebrity reporting, no corporate implications. MSN: Sarah Ferguson on Lisa Marie Presley
• Neutral Sentiment: Sports feature on Brighton’s Evan Ferguson (soccer) — player/club coverage, not related to Ferguson plc’s business. NYT: Evan Ferguson feature

Ferguson Price Performance

FERG opened at $222.07 on Friday. The company has a market capitalization of $43.19 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 1.79 and a beta of 1.17. The company has a current ratio of 1.88, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $271.64. The business’s fifty day simple moving average is $248.85 and its 200-day simple moving average is $240.43.

Ferguson (NYSE:FERG) last released its quarterly earnings data on Tuesday, February 24th. The company reported $1.99 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.25). Ferguson had a net margin of 6.93% and a return on equity of 40.37%. During the same period in the prior year, the company earned $1.52 earnings per share. Ferguson’s revenue was up 3.6% compared to the same quarter last year.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Friday, March 6th will be issued a $0.89 dividend. The ex-dividend date is Friday, March 6th. This represents a $3.56 annualized dividend and a dividend yield of 1.6%. Ferguson’s payout ratio is currently 35.96%.

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.