Kornitzer Capital Management Inc. KS Acquires 9,506 Shares of Ferguson plc $FERG

Key Points

• Kornitzer Capital Management Inc. KS boosted its stake in Ferguson (NYSE:FERG) by 150.9%, buying 9,506 shares to hold 15,806 shares worth $3.519 million per its latest 13F filing.
• Ferguson reported quarterly EPS of $1.99 versus a $2.24 consensus (a miss) while revenue rose 3.6% year-over-year; the stock has a $51.34 billion market cap, a P/E of 26.68, and pays a $0.89 quarterly dividend ($3.56 annual, 1.3% yield).
• Analysts have a consensus rating of Moderate Buy with an average price target of $267.27, and several firms recently raised targets (e.g., Truist to $300, Oppenheimer to $280).

Kornitzer Capital Management Inc. KS grew its holdings in shares of Ferguson plc (NYSE:FERG - Free Report) by 150.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,806 shares of the company's stock after buying an additional 9,506 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Ferguson were worth $3,519,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Ferguson by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 19,418,334 shares of the company's stock worth $4,323,104,000 after buying an additional 102,850 shares in the last quarter. State Street Corp lifted its holdings 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 worth $1,000,152,000 after purchasing an additional 81,094 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Ferguson by 2.6% in 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 in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Ferguson by 22.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,734,911 shares of the company's stock worth $838,786,000 after purchasing an additional 682,666 shares in the last quarter. Finally, Soroban Capital Partners LP lifted its holdings in shares of Ferguson by 2.8% in the 2nd quarter. Soroban Capital Partners LP now owns 3,705,056 shares of the company's stock worth $806,776,000 after purchasing an additional 100,559 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors.

Ferguson Price Performance

Shares of NYSE:FERG opened at $264.13 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The stock's fifty day simple moving average is $243.92 and its two-hundred day simple moving average is $243.79. Ferguson plc has a 1-year low of $166.04 and a 1-year high of $271.64. The stock has a market cap of $51.34 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 1.99 and a beta of 1.23.

Ferguson (NYSE:FERG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $1.99 earnings per share for the quarter, missing the consensus estimate 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 period in the prior year, the firm earned $1.52 EPS. The business's revenue for the quarter was up 3.6% on a year-over-year basis. As a group, analysts forecast that Ferguson plc will post 11.2 EPS for the current fiscal year.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.89 per share. The ex-dividend date is Friday, May 15th. This represents a $3.56 annualized dividend and a yield of 1.3%. Ferguson's dividend payout ratio (DPR) is 35.96%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FERG shares. Truist Financial increased their target price on Ferguson from $260.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday, February 25th. Wall Street Zen cut Ferguson from a "buy" rating to a "hold" rating in a report on Saturday, January 10th. Oppenheimer increased their target price on Ferguson from $255.00 to $280.00 and gave the stock an "outperform" rating in a report on Wednesday, February 25th. UBS Group increased their target price on Ferguson from $220.00 to $252.00 and gave the stock a "neutral" rating in a report on Wednesday, February 25th. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of Ferguson in a report on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Ferguson has a consensus rating of "Moderate Buy" and a consensus price target of $267.27.

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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