Ferguson plc $FERG Shares Sold by Argent Capital Management LLC

Key Points

• Argent Capital Management reduced its Ferguson stake by 3.2% in the first quarter, selling 4,833 shares and retaining 146,575 shares worth approximately $34.2 million. Institutional investors and hedge funds collectively own 81.98% of Ferguson.
• Analyst sentiment remains positive but mixed: Ferguson has a consensus “Moderate Buy” rating and an average price target of $277.21, while Goldman Sachs downgraded the stock to “Neutral” and cut its target to $265.
• Ferguson reported quarterly EPS of $2.28, beating estimates of $2.14, with revenue rising 3.6% year over year to $7.47 billion. The company also authorized a $2 billion share-repurchase program, representing up to 3.9% of outstanding shares.

Argent Capital Management LLC lowered its position in Ferguson plc (NYSE:FERG - Free Report) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 146,575 shares of the company's stock after selling 4,833 shares during the quarter. Ferguson comprises about 1.1% of Argent Capital Management LLC's holdings, making the stock its 27th biggest holding. Argent Capital Management LLC owned approximately 0.08% of Ferguson worth $34,190,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FERG. Raiffeisen Bank International AG raised its stake in Ferguson by 350,745.0% in the 4th quarter. Raiffeisen Bank International AG now owns 522,759 shares of the company's stock valued at $116,382,000 after acquiring an additional 522,610 shares during the period. Marsico Capital Management LLC bought a new position in Ferguson during the fourth quarter worth about $11,017,000. Lmcg Investments LLC purchased a new position in shares of Ferguson in the first quarter worth about $1,806,000. V Square Quantitative Management LLC purchased a new position in shares of Ferguson in the fourth quarter worth about $891,000. Finally, D.A. Davidson & CO. raised its position in shares of Ferguson by 89.6% in the fourth quarter. D.A. Davidson & CO. now owns 30,983 shares of the company's stock valued at $6,898,000 after purchasing an additional 14,644 shares during the period. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. The Goldman Sachs Group downgraded shares of Ferguson from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $315.00 to $265.00 in a report on Monday, July 6th. Weiss Ratings upgraded Ferguson from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 2nd. Royal Bank Of Canada increased their price objective on Ferguson from $271.00 to $281.00 and gave the stock an "outperform" rating in a report on Wednesday, May 6th. Zelman & Associates upgraded Ferguson from a "hold" rating to an "outperform" rating and set a $285.00 target price for the company in a research note on Friday, July 17th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Ferguson in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $277.21.

Ferguson Stock Performance

NYSE:FERG opened at $234.49 on Friday. The company has a market capitalization of $45.48 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 1.60 and a beta of 1.13. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96. Ferguson plc has a 1-year low of $207.64 and a 1-year high of $271.64. The business has a 50 day moving average of $230.62 and a 200 day moving average of $240.52.

Ferguson (NYSE:FERG - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.14 by $0.14. The company had revenue of $7.47 billion for the quarter. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. Ferguson's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.50 EPS. On average, sell-side analysts predict that Ferguson plc will post 11.25 earnings per share for the current fiscal year.

Ferguson announced that its board has authorized a share repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is 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.

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