Ferguson plc $FERG Shares Purchased by Sei Investments Co.

Key Points

• Sei Investments Co. increased its stake in Ferguson plc by 24% in the first quarter, buying 71,710 additional shares and bringing its total holding to 369,918 shares worth about $86.3 million.
• Institutional interest in Ferguson remains strong, with hedge funds and other investors owning about 81.98% of the stock overall.
• Analysts are mixed but generally positive: the stock carries a Moderate Buy consensus rating, though Goldman Sachs cut its target and rating while Zelman upgraded Ferguson to outperform; the average price target is $277.21.

Sei Investments Co. boosted its holdings in shares of Ferguson plc (NYSE:FERG - Free Report) by 24.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 369,918 shares of the company's stock after buying an additional 71,710 shares during the period. Sei Investments Co. owned approximately 0.19% of Ferguson worth $86,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of 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 acquiring an additional 2,940 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of Ferguson in the 1st quarter valued at approximately $310,000. Focus Partners Wealth raised 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 valued at $503,000 after purchasing an additional 581 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Ferguson in the 2nd quarter worth approximately $257,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Ferguson by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company's stock worth $150,000 after purchasing an additional 48 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FERG. The Goldman Sachs Group lowered shares of Ferguson from a "buy" rating to a "neutral" rating and cut their price target for the company from $315.00 to $265.00 in a research note on Monday, July 6th. Weiss Ratings upgraded shares of Ferguson from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, July 2nd. Wells Fargo & Company boosted their price objective on shares of Ferguson from $260.00 to $285.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Citigroup reissued a "neutral" rating on shares of Ferguson in a research report on Wednesday, May 6th. Finally, Zelman & Associates raised 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. One equities 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $277.21.

Ferguson Stock Performance

Shares of FERG stock opened at $230.36 on Friday. The stock has a market cap of $44.68 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 1.61 and a beta of 1.13. The business has a 50-day simple moving average of $229.80 and a 200-day simple moving average of $240.45. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68. Ferguson plc has a 52-week low of $207.64 and a 52-week high of $271.64.

Ferguson (NYSE:FERG - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.14 by $0.14. The business had revenue of $7.47 billion for the quarter. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The company's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.50 EPS. On average, equities analysts expect that Ferguson plc will post 11.3 EPS for the current year.

Ferguson Announces Dividend

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

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.