Cumberland Partners Ltd Makes New $1.96 Million Investment in Ferguson plc $FERG

Cumberland Partners Ltd bought a new position in shares of Ferguson plc (NYSE:FERG) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,745 shares of the company’s stock, valued at approximately $1,964,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Daymark Wealth Partners LLC increased its stake in shares of Ferguson by 4.6% during the third quarter. Daymark Wealth Partners LLC now owns 992 shares of the company’s stock valued at $223,000 after acquiring an additional 44 shares during the period. Smithfield Trust Co raised its holdings in Ferguson by 3.5% during the 2nd quarter. Smithfield Trust Co now owns 1,342 shares of the company’s stock worth $291,000 after buying an additional 46 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings 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 period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Ferguson by 21.7% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 292 shares of the company’s stock valued at $66,000 after purchasing an additional 52 shares in the last quarter. Finally, Net Worth Advisory Group boosted its position in Ferguson by 4.5% during the 3rd quarter. Net Worth Advisory Group now owns 1,314 shares of the company’s stock worth $295,000 after acquiring an additional 56 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Robert W. Baird boosted their target price on Ferguson from $262.00 to $265.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Morgan Stanley reissued an “overweight” rating on shares of Ferguson in a research report on Tuesday, January 6th. Wall Street Zen downgraded shares of Ferguson from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Wells Fargo & Company boosted their price target on Ferguson from $275.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Finally, UBS Group reduced their price objective on shares of Ferguson from $225.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $253.00.

Ferguson Stock Performance

FERG stock opened at $260.18 on Thursday. The business’s 50-day moving average price is $242.55 and its two-hundred day moving average price is $238.46. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $271.64. The company has a current ratio of 1.88, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The firm has a market cap of $50.88 billion, a PE ratio of 26.28, a P/E/G ratio of 2.15 and a beta of 1.18.

Ferguson (NYSE:FERG) last posted its quarterly earnings data on Tuesday, December 9th. The company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.07. Ferguson had a return on equity of 35.73% and a net margin of 6.28%.The business had revenue of $8.17 billion during the quarter. During the same quarter in the previous year, the business posted $2.45 earnings per share. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year.

Ferguson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.89 per share. The ex-dividend date is Friday, January 2nd. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Ferguson’s previous quarterly dividend of $0.83. Ferguson’s dividend payout ratio is 35.96%.

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.