Entropy Technologies LP Sells 6,614 Shares of Ferguson plc $FERG

Key Points

• Entropy Technologies LP cut its Ferguson stake by 47.4% in the first quarter, selling 6,614 shares and retaining 7,349 shares valued at approximately $1.714 million. Institutional investors and hedge funds collectively own 81.98% of Ferguson.
• Ferguson reported quarterly EPS of $2.28, beating estimates of $2.14, while revenue rose 3.6% year over year to $7.47 billion. The board also authorized a $2 billion share-repurchase program, covering up to 3.9% of outstanding shares.
• The company pays an annualized dividend of $3.56 per share, yielding 1.5%. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $277.21, compared with the stock’s reported price of $233.79.

Entropy Technologies LP reduced its holdings in shares of Ferguson plc (NYSE:FERG - Free Report) by 47.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,349 shares of the company's stock after selling 6,614 shares during the quarter. Entropy Technologies LP's holdings in Ferguson were worth $1,714,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FERG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 worth $2,445,000 after purchasing an additional 2,940 shares during the period. Caxton Associates LLP acquired a new stake in shares of Ferguson during the 1st quarter worth about $310,000. Focus Partners Wealth lifted its stake 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 buying an additional 581 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Ferguson during the 2nd quarter worth about $257,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings 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 buying an additional 48 shares during the period. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Stock Performance

NYSE:FERG opened at $233.79 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78. Ferguson plc has a fifty-two week low of $207.64 and a fifty-two week high of $271.64. The company has a market cap of $45.34 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.63 and a beta of 1.13. The stock has a fifty day moving average price of $230.08 and a 200-day moving average price of $240.59.

Ferguson (NYSE:FERG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $2.14 by $0.14. The business 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 firm's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $2.50 EPS. As a group, equities analysts anticipate that Ferguson plc will post 11.3 EPS for the current fiscal year.

Ferguson declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th were paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, May 15th. Ferguson's dividend payout ratio (DPR) is presently 41.40%.

Wall Street Analyst Weigh In

FERG has been the topic of a number of research reports. Royal Bank Of Canada upped 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. The Goldman Sachs Group cut Ferguson from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $315.00 to $265.00 in a report on Monday, July 6th. Wells Fargo & Company upped their target price on Ferguson from $260.00 to $285.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Zelman & Associates upgraded Ferguson from a "hold" rating to an "outperform" rating and set a $285.00 target price on the stock in a research note on Friday, July 17th. Finally, Citigroup reissued a "neutral" rating on shares of Ferguson in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Ferguson has a consensus rating of "Moderate Buy" and a consensus price target of $277.21.

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.

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