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

Key Points

• Cetera Investment Advisers increased its Ferguson stake by 44.6% in the first quarter, bringing its holdings to 43,134 shares valued at approximately $10.06 million. Institutional investors and hedge funds collectively own 81.98% of the company.
• Ferguson exceeded quarterly earnings expectations, reporting $2.28 in EPS versus the $2.14 consensus and $7.47 billion in revenue, up 3.6% year over year.
• The company authorized a $2 billion share-repurchase program, while analysts maintain a “Moderate Buy” consensus with an average price target of $277.21 compared with the stock’s $226.74 opening price.

Cetera Investment Advisers boosted its stake in Ferguson plc (NYSE:FERG - Free Report) by 44.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,134 shares of the company's stock after acquiring an additional 13,307 shares during the quarter. Cetera Investment Advisers' holdings in Ferguson were worth $10,062,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Leonteq Securities AG bought a new position in shares of Ferguson during the fourth quarter worth about $26,000. Basepoint Wealth LLC acquired a new stake in Ferguson in the 4th quarter valued at approximately $26,000. Zions Bancorporation National Association UT lifted its stake in Ferguson by 123.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company's stock valued at $32,000 after acquiring an additional 79 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in Ferguson in the 3rd quarter valued at approximately $34,000. Finally, Cornerstone Planning Group LLC boosted its position in Ferguson by 53.9% during the 4th quarter. Cornerstone Planning Group LLC now owns 197 shares of the company's stock worth $44,000 after acquiring an additional 69 shares during the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Trading Up 0.2%

NYSE FERG opened at $226.74 on Friday. The company has a market cap of $43.97 billion, a PE ratio of 26.37, a PEG ratio of 1.60 and a beta of 1.13. 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 stock has a 50 day moving average of $230.40 and a 200-day moving average of $240.56.

Ferguson (NYSE:FERG - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter. During the same quarter in the previous year, the firm posted $2.50 earnings per share. Ferguson's quarterly revenue was up 3.6% on a year-over-year basis. On average, equities research analysts anticipate that Ferguson plc will post 11.25 EPS for the current fiscal year.

Ferguson announced that its Board of Directors has initiated a stock buyback plan on Tuesday, May 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FERG. Wells Fargo & Company raised their price target on shares of Ferguson from $260.00 to $285.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. The Goldman Sachs Group cut shares of Ferguson from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $315.00 to $265.00 in a report on Monday, July 6th. Weiss Ratings raised shares of Ferguson from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 2nd. Royal Bank Of Canada lifted their price target on shares of Ferguson from $271.00 to $281.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. Finally, Citigroup reissued a "neutral" rating on shares of Ferguson in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $277.21.

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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