Ferguson plc $FERG is GFI Investment Counsel Ltd.'s 10th Largest Position

Key Points

• GFI Investment Counsel Ltd. trimmed its stake in Ferguson by 3.4% to 283,510 shares (about $63.67M), leaving FERG as its 10th-largest holding, while institutional investors collectively own roughly 81.98% of the company.
• Several brokers raised price targets this quarter and MarketBeat's consensus rating is a Moderate Buy with an average price target of $262.62.
• Ferguson missed EPS (reported $1.99 vs. $2.24 expected) despite 3.6% revenue growth, and declared a $0.89 quarterly dividend (annualized $3.56, ~1.5% yield).

GFI Investment Counsel Ltd. lowered its position in Ferguson plc (NYSE:FERG - Free Report) by 3.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,510 shares of the company's stock after selling 9,874 shares during the quarter. Ferguson makes up approximately 6.6% of GFI Investment Counsel Ltd.'s holdings, making the stock its 10th biggest position. GFI Investment Counsel Ltd. owned about 0.14% of Ferguson worth $63,671,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FERG. Cornerstone Planning Group LLC raised its holdings in Ferguson by 178.3% during the third quarter. Cornerstone Planning Group LLC now owns 128 shares of the company's stock valued at $31,000 after buying an additional 82 shares in the last quarter. Quent Capital LLC acquired a new stake in Ferguson in the 3rd quarter worth approximately $43,000. First Horizon Advisors Inc. boosted its position in Ferguson by 81.4% during the second quarter. First Horizon Advisors Inc. now owns 303 shares of the company's stock worth $66,000 after purchasing an additional 136 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in Ferguson by 21.7% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 292 shares of the company's stock valued at $66,000 after purchasing an additional 52 shares during the last quarter. Finally, CX Institutional raised its position in shares of Ferguson by 9,900.0% in the third quarter. CX Institutional now owns 300 shares of the company's stock valued at $67,000 after purchasing an additional 297 shares during the period. Institutional investors own 81.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FERG. Oppenheimer upped their price target on shares of Ferguson from $255.00 to $280.00 and gave the company an "outperform" rating in a report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft raised their target price on Ferguson from $237.00 to $246.00 and gave the company a "hold" rating in a report on Thursday, December 11th. Wells Fargo & Company increased their price target on shares of Ferguson from $280.00 to $285.00 and gave the company an "overweight" rating in a report on Wednesday, February 25th. Barclays boosted their price objective on shares of Ferguson from $278.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, February 25th. Finally, UBS Group lifted their target price on Ferguson from $220.00 to $252.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $262.62.

Ferguson Price Performance

Ferguson stock opened at $230.47 on Tuesday. The business has a 50 day simple moving average of $248.73 and a 200 day simple moving average of $240.70. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01. The company has a market capitalization of $44.83 billion, a PE ratio of 23.28 and a beta of 1.17. Ferguson plc has a one year low of $146.00 and a one year high of $271.64.

Ferguson (NYSE:FERG - Get Free Report) last posted its earnings results on Tuesday, February 24th. The company reported $1.99 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.25). Ferguson had a return on equity of 40.37% and a net margin of 6.93%.The company's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.52 earnings per share.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, March 6th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, March 6th. Ferguson's payout ratio is currently 35.96%.

Ferguson 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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