Ferguson plc $FERG Shares Acquired by Sycale Advisors NY LLC

Sycale Advisors NY LLC boosted its holdings in Ferguson plc (NYSE:FERG) by 321.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,109 shares of the company’s stock after acquiring an additional 32,119 shares during the period. Ferguson accounts for about 3.1% of Sycale Advisors NY LLC’s investment portfolio, making the stock its 13th largest position. Sycale Advisors NY LLC’s holdings in Ferguson were worth $9,994,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FERG. Vise Technologies Inc. grew its position in shares of Ferguson by 56.4% in the second quarter. Vise Technologies Inc. now owns 7,305 shares of the company’s stock valued at $1,734,000 after purchasing an additional 2,633 shares during the last quarter. West Family Investments Inc. acquired a new position in shares of Ferguson during the 2nd quarter worth approximately $250,000. NewEdge Wealth LLC acquired a new position in shares of Ferguson during the 2nd quarter worth approximately $206,000. Danske Bank A S lifted its stake in Ferguson by 0.6% in the 2nd quarter. Danske Bank A S now owns 105,654 shares of the company’s stock valued at $25,075,000 after buying an additional 600 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Ferguson by 6.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 96,068 shares of the company’s stock valued at $22,800,000 after buying an additional 5,936 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Down 1.4%

Shares of NYSE:FERG opened at $239.83 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. Ferguson plc has a 52-week low of $207.64 and a 52-week high of $271.64. The company has a 50 day moving average of $236.94 and a two-hundred day moving average of $240.49. The company has a market capitalization of $46.40 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 1.69 and a beta of 1.14.

Ferguson (NYSE:FERG) last posted its quarterly earnings data on Monday, August 10th. The company reported $3.39 earnings per share 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 during the quarter. As a group, analysts forecast that Ferguson plc will post 11.39 earnings per share for the current fiscal year.

Ferguson declared that its Board of Directors has initiated a share buyback program on Tuesday, May 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Ferguson Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. Ferguson’s payout ratio is 41.83%.

Analyst Ratings Changes

A number of research firms recently commented on FERG. Weiss Ratings upgraded Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Sanford C. Bernstein upped their target price on shares of Ferguson from $310.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Zelman & Associates raised shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price target on the stock in a research note on Friday, July 17th. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Finally, The Goldman Sachs Group downgraded shares of Ferguson from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $315.00 to $265.00 in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $285.93.

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.