Cetera Investment Advisers Has $10.06 Million Position in Ferguson plc $FERG

Cetera Investment Advisers boosted its holdings in Ferguson plc (NYSE:FERG) by 44.6% during the first quarter, Holdings Channel reports. The fund owned 43,134 shares of the company’s stock after purchasing an additional 13,307 shares during the period. Cetera Investment Advisers’ holdings in Ferguson were worth $10,062,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Signaturefd LLC boosted its holdings in shares of Ferguson by 1.1% during the 4th quarter. Signaturefd LLC now owns 3,979 shares of the company’s stock worth $886,000 after buying an additional 44 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Ferguson by 7.5% in the 2nd 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. Simplicity Wealth LLC raised its holdings in Ferguson by 1.6% in the 4th quarter. Simplicity Wealth LLC now owns 3,132 shares of the company’s stock valued at $697,000 after acquiring an additional 48 shares during the period. Sivia Capital Partners LLC lifted its position in Ferguson by 2.9% during the fourth quarter. Sivia Capital Partners LLC now owns 1,685 shares of the company’s stock worth $375,000 after acquiring an additional 48 shares during the last quarter. Finally, REAP Financial Group LLC lifted its position in Ferguson by 13.4% during the fourth quarter. REAP Financial Group LLC now owns 431 shares of the company’s stock worth $96,000 after acquiring an additional 51 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Barclays boosted their price objective on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Weiss Ratings raised Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. The Goldman Sachs Group downgraded Ferguson from a “buy” rating to a “neutral” rating and reduced their price target for the company from $315.00 to $265.00 in a research note on Monday, July 6th. Wells Fargo & Company upped their price objective on Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada increased their price objective on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $277.21.

Ferguson Stock Up 0.2%

Shares of FERG opened at $226.74 on Friday. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68. Ferguson plc has a 12 month low of $207.64 and a 12 month high of $271.64. The firm’s 50 day moving average is $230.40 and its 200-day moving average is $240.56. The stock has a market capitalization of $43.97 billion, a PE ratio of 26.37, a P/E/G ratio of 1.60 and a beta of 1.13.

Ferguson (NYSE:FERG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The business had revenue of $7.47 billion for the quarter. During the same period in the prior year, the company earned $2.50 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. Equities research analysts forecast that Ferguson plc will post 11.25 EPS for the current year.

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

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.