Eventide Asset Management LLC Has $37.52 Million Stock Holdings in Ferguson plc $FERG

Eventide Asset Management LLC lessened its holdings in shares of Ferguson plc (NYSE:FERG) by 5.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 168,275 shares of the company’s stock after selling 10,497 shares during the period. Eventide Asset Management LLC owned approximately 0.09% of Ferguson worth $37,520,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in FERG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Ferguson by 23.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock worth $2,445,000 after purchasing an additional 2,940 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of Ferguson during the 1st quarter worth about $310,000. Focus Partners Wealth lifted its position in shares of Ferguson by 22.7% during the 1st quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock worth $503,000 after purchasing an additional 581 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Ferguson during the 2nd quarter worth about $257,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Ferguson by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock worth $150,000 after purchasing an additional 48 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Trading Up 0.9%

Ferguson stock opened at $230.13 on Friday. The business has a 50 day moving average price of $240.99 and a two-hundred day moving average price of $241.08. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68. The stock has a market cap of $44.63 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15. Ferguson plc has a 12 month low of $207.64 and a 12 month high of $271.64.

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

Ferguson declared that its Board of Directors has initiated a share buyback program on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.5%. Ferguson’s dividend payout ratio is presently 41.40%.

Wall Street Analysts Forecast Growth

FERG has been the subject of several research analyst reports. Oppenheimer boosted their price objective on Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Wells Fargo & Company boosted their price objective on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. UBS Group boosted their price objective on Ferguson from $220.00 to $252.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Citigroup reissued a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Finally, Weiss Ratings cut Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Ferguson has an average rating of “Moderate Buy” and an average price target of $277.77.

About Ferguson

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.