Algert Global LLC Buys New Position in Ferguson plc $FERG

Algert Global LLC bought a new position in Ferguson plc (NYSE:FERG - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,078 shares of the company's stock, valued at approximately $2,866,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Ferguson by 23.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company's stock valued at $2,445,000 after purchasing an additional 2,940 shares during the period. Caxton Associates LLP bought a new stake in Ferguson during the first quarter valued at about $310,000. Focus Partners Wealth grew its position in shares of Ferguson by 22.7% in the 1st quarter. Focus Partners Wealth now owns 3,140 shares of the company's stock worth $503,000 after buying an additional 581 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Ferguson during the second quarter worth about $257,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Ferguson by 7.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company's stock valued at $150,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 81.98% of the company's stock.

Ferguson Price Performance

Shares of NYSE:FERG opened at $228.52 on Friday. The firm has a market capitalization of $44.21 billion, a PE ratio of 26.85, a PEG ratio of 1.62 and a beta of 1.14. The business's 50 day moving average is $236.93 and its 200-day moving average is $239.63. Ferguson plc has a 1-year low of $207.64 and a 1-year high of $271.64. The company has a current ratio of 1.73, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72.

Ferguson (NYSE:FERG - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported $3.39 EPS for the quarter, beating the consensus estimate of $3.23 by $0.16. The business had revenue of $8.75 billion for the quarter. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. Sell-side analysts predict that Ferguson plc will post 11.42 earnings per share for the current year.

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Friday, August 21st will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, August 21st. Ferguson's payout ratio is 41.83%.

Ferguson declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FERG shares. Wells Fargo & Company boosted their price target on Ferguson from $285.00 to $295.00 and gave the company an "overweight" rating in a research report on Tuesday, August 11th. Zelman & Associates upgraded shares of Ferguson from a "hold" rating to an "outperform" rating and set a $285.00 target price on the stock in a research report on Friday, July 17th. Sanford C. Bernstein raised 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. Barclays lifted their price target on shares of Ferguson from $297.00 to $313.00 and gave the stock an "overweight" rating in a report on Tuesday, August 11th. Finally, Weiss Ratings raised shares of Ferguson from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $285.93.

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.

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