Evelyn Partners Investment Management LLP Cuts Stock Position in Ferguson plc $FERG

Evelyn Partners Investment Management LLP lowered its position in Ferguson plc (NYSE:FERG) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,593 shares of the company’s stock after selling 3,000 shares during the period. Evelyn Partners Investment Management LLP’s holdings in Ferguson were worth $11,041,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Brasada Capital Management LP grew its position in shares of Ferguson by 3.7% in the 4th quarter. Brasada Capital Management LP now owns 7,507 shares of the company’s stock worth $1,682,000 after buying an additional 269 shares during the last quarter. Aptus Capital Advisors LLC grew its position in shares of Ferguson by 9.6% in the 4th quarter. Aptus Capital Advisors LLC now owns 1,035 shares of the company’s stock worth $230,000 after buying an additional 91 shares during the last quarter. Kestra Advisory Services LLC boosted its stake in Ferguson by 15.5% in the 4th quarter. Kestra Advisory Services LLC now owns 1,432 shares of the company’s stock worth $319,000 after purchasing an additional 192 shares in the last quarter. Meixler Investment Management Ltd. boosted its stake in Ferguson by 172.5% in the 4th quarter. Meixler Investment Management Ltd. now owns 2,968 shares of the company’s stock worth $661,000 after purchasing an additional 1,879 shares in the last quarter. Finally, Maverick Capital Ltd. boosted its stake in Ferguson by 50.1% in the 4th quarter. Maverick Capital Ltd. now owns 22,114 shares of the company’s stock worth $4,923,000 after purchasing an additional 7,380 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Up 0.9%

FERG stock opened at $230.13 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68. Ferguson plc has a 52 week low of $207.64 and a 52 week high of $271.64. The firm has a 50 day moving average of $240.99 and a 200 day moving average of $241.08. The stock has a market capitalization of $44.63 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15.

Ferguson (NYSE:FERG) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.14 by $0.14. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The business had revenue of $7.47 billion during the quarter. During the same quarter in the previous year, the firm posted $2.50 earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. Sell-side analysts forecast that Ferguson plc will post 11.26 earnings per share for the current year.

Ferguson announced that its Board of Directors has approved a stock repurchase plan on Tuesday, May 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Ferguson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, May 15th. Ferguson’s payout ratio is presently 41.40%.

Wall Street Analyst Weigh In

FERG has been the subject of a number of recent analyst reports. Citigroup reiterated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Truist Financial lifted their target price on shares of Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Weiss Ratings cut shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. Oppenheimer lifted their target price on shares of Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Finally, UBS Group lifted their target price on shares of Ferguson from $220.00 to $252.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $277.77.

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.