Hengehold Capital Management LLC Acquires New Shares in Ferguson plc $FERG

Key Points

• Hengehold Capital Management initiated a new position in Ferguson, purchasing 14,026 shares (~$3.12M) in Q4, and institutional investors now own 81.98% of the company.
• Analysts are broadly positive with an average rating of "Moderate Buy" and an average target price of $268.93, while several firms (UBS, Barclays, Deutsche Bank) have recently raised price targets.
• Ferguson missed quarterly EPS estimates ($1.99 vs. $2.24) despite revenue rising 3.6% YoY; the stock has a market cap of $45.37B and pays a quarterly dividend of $0.89 (1.5% yield).

Hengehold Capital Management LLC acquired a new position in Ferguson plc (NYSE:FERG - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 14,026 shares of the company's stock, valued at approximately $3,123,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FERG. State Street Corp lifted its stake in shares of Ferguson by 1.9% in the 3rd quarter. State Street Corp now owns 4,437,468 shares of the company's stock valued at $1,000,152,000 after purchasing an additional 81,094 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Ferguson by 2.6% during the 3rd quarter. Franklin Resources Inc. now owns 4,367,818 shares of the company's stock worth $980,921,000 after purchasing an additional 112,157 shares during the last quarter. Wellington Management Group LLP raised its holdings in Ferguson by 22.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,734,911 shares of the company's stock valued at $838,786,000 after buying an additional 682,666 shares during the period. Soroban Capital Partners LP raised its holdings in Ferguson by 2.8% in the 2nd quarter. Soroban Capital Partners LP now owns 3,705,056 shares of the company's stock valued at $806,776,000 after buying an additional 100,559 shares during the period. Finally, Egerton Capital UK LLP lifted its position in Ferguson by 16.4% in the third quarter. Egerton Capital UK LLP now owns 2,600,224 shares of the company's stock valued at $583,958,000 after buying an additional 366,898 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FERG. UBS Group lifted their price target on shares of Ferguson from $220.00 to $252.00 and gave the company a "neutral" rating in a research report on Wednesday, February 25th. Morgan Stanley restated an "overweight" rating on shares of Ferguson in a report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Ferguson from $237.00 to $246.00 and gave the stock a "hold" rating in a research report on Thursday, December 11th. Barclays boosted their target price on Ferguson from $278.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, February 25th. Finally, Robert W. Baird upped their price target on Ferguson from $262.00 to $265.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 10th. 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.com, the company presently has an average rating of "Moderate Buy" and an average target price of $268.93.

Ferguson Stock Up 4.4%

Shares of FERG opened at $233.39 on Wednesday. The stock has a market capitalization of $45.37 billion, a PE ratio of 23.57, a P/E/G ratio of 1.83 and a beta of 1.17. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $271.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88. The company's 50-day simple moving average is $245.31 and its 200-day simple moving average is $239.97.

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

Ferguson Dividend Announcement

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

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.