Ieq Capital LLC Lowers Stake in Ferguson plc $FERG

Key Points

• Ieq Capital cut its Ferguson stake by 85.9% in the second quarter, selling 19,350 shares and retaining 3,165 shares valued at approximately $751,000. Institutional investors collectively own nearly 82% of Ferguson’s stock.
• Ferguson reported quarterly EPS of $3.39, beating analyst estimates of $3.23, on revenue of $8.75 billion. The company also authorized a $2 billion share-repurchase program, covering up to 3.9% of outstanding shares.
• Ferguson declared a quarterly dividend of $0.89, equivalent to a 1.5% yield, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $285.93 versus the reported share price of $233.24.

Ieq Capital LLC lessened its stake in Ferguson plc (NYSE:FERG - Free Report) by 85.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,165 shares of the company's stock after selling 19,350 shares during the period. Ieq Capital LLC's holdings in Ferguson were worth $751,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FERG. Basepoint Wealth LLC acquired a new stake in shares of Ferguson in the fourth quarter valued at $26,000. Leonteq Securities AG purchased a new position in Ferguson during the 4th quarter valued at about $26,000. Zions Bancorporation National Association UT grew its position in Ferguson by 123.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company's stock valued at $32,000 after acquiring an additional 79 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in Ferguson in the 3rd quarter valued at about $34,000. Finally, Eastern Bank purchased a new stake in Ferguson during the second quarter worth about $42,000. Hedge funds and other institutional investors own 81.98% of the company's stock.

Ferguson Stock Performance

NYSE:FERG opened at $233.24 on Friday. Ferguson plc has a 12 month low of $207.64 and a 12 month high of $271.64. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 0.93. The firm has a market capitalization of $45.12 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 1.64 and a beta of 1.14. The business's fifty day moving average price is $237.14 and its 200 day moving average price is $239.70.

Ferguson (NYSE:FERG - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.16. Ferguson had a return on equity of 37.24% and a net margin of 6.82%.The business had revenue of $8.75 billion during the quarter. On average, sell-side analysts anticipate that Ferguson plc will post 11.42 earnings per share for the current fiscal year.

Ferguson announced that its Board of Directors 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 purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Ferguson Dividend Announcement

The business also recently announced 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 1.5%. Ferguson's dividend payout ratio is presently 41.83%.

Analyst Ratings Changes

FERG has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $261.00 price objective on shares of Ferguson in a research note on Tuesday, August 18th. Robert W. Baird lifted their price objective on Ferguson from $285.00 to $288.00 and gave the company an "outperform" rating in a research note on Tuesday, August 11th. Oppenheimer lifted their price objective on Ferguson from $280.00 to $288.00 and gave the company an "outperform" rating in a research note on Tuesday, August 11th. Royal Bank Of Canada upped their target price on shares of Ferguson from $281.00 to $290.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings raised shares of Ferguson from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $285.93.

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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