Ferguson plc $FERG Position Raised by First Eagle Investment Management LLC

Key Points

• First Eagle Investment Management increased its Ferguson stake by 4.1% in the second quarter, bringing its holdings to 659,054 shares valued at approximately $156.4 million. Institutional investors collectively own 81.98% of the company.
• Ferguson reported quarterly EPS of $3.39, beating analyst estimates of $3.23, on revenue of $8.75 billion. The company also declared a quarterly dividend of $0.89 per share, implying a 1.6% annual yield.
• Analysts maintain a positive outlook, with Ferguson carrying a consensus “Moderate Buy” rating and an average price target of $285.57, above its reported share price of $228.53.

First Eagle Investment Management LLC grew its position in shares of Ferguson plc (NYSE:FERG - Free Report) by 4.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 659,054 shares of the company's stock after acquiring an additional 25,745 shares during the quarter. First Eagle Investment Management LLC owned about 0.34% of Ferguson worth $156,413,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Raiffeisen Bank International AG raised its holdings in shares of Ferguson by 350,745.0% during the fourth quarter. Raiffeisen Bank International AG now owns 522,759 shares of the company's stock valued at $116,382,000 after buying an additional 522,610 shares during the last quarter. Marsico Capital Management LLC acquired a new position in shares of Ferguson during the fourth quarter worth approximately $11,017,000. Lmcg Investments LLC bought a new position in Ferguson in the 1st quarter worth approximately $1,806,000. Jones Financial Companies Lllp grew its holdings in Ferguson by 13.2% in the 2nd quarter. Jones Financial Companies Lllp now owns 96,108 shares of the company's stock worth $22,932,000 after buying an additional 11,196 shares in the last quarter. Finally, Greenland Capital Management LP acquired a new stake in Ferguson in the 2nd quarter valued at approximately $1,481,000. Institutional investors own 81.98% of the company's stock.

Ferguson Price Performance

Shares of NYSE:FERG opened at $228.53 on Monday. The stock has a market cap of $44.21 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.58 and a beta of 1.13. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 0.93. Ferguson plc has a 12 month low of $207.64 and a 12 month high of $271.64. The stock's 50 day moving average price is $235.52 and its 200 day moving average price is $238.07.

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

Ferguson Dividend Announcement

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

Insider Buying and Selling at Ferguson

In related news, insider Jake Schlicher sold 5,177 shares of Ferguson stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $230.92, for a total transaction of $1,195,472.84. Following the transaction, the insider directly owned 9,490 shares of the company's stock, valued at $2,191,430.80. The trade was a 35.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Ferguson from $285.00 to $295.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. Royal Bank Of Canada increased their price target on Ferguson from $281.00 to $290.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 11th. Jefferies Financial Group set a $295.00 price target on Ferguson in a report on Thursday. Zelman & Associates upgraded shares of Ferguson from a "hold" rating to an "outperform" rating and set a $285.00 price objective on the stock in a research note on Friday, July 17th. Finally, Sanford C. Bernstein upped their price objective on shares of Ferguson from $310.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $285.57.

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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