Lmcg Investments LLC Makes New Investment in Ferguson plc $FERG

Key Points

• Lmcg Investments LLC opened a new position in Ferguson plc during the first quarter, buying 7,743 shares valued at about $1.8 million.
• Ferguson reported quarterly EPS of $2.28, beating analyst estimates, on revenue of $7.47 billion, with revenue rising 3.6% year over year.
• The company also maintained shareholder returns through a $0.89 quarterly dividend and a newly authorized $2 billion share buyback program.

Lmcg Investments LLC purchased a new position in Ferguson plc (NYSE:FERG - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,743 shares of the company's stock, valued at approximately $1,806,000.

Other hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Ferguson by 23.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company's stock worth $2,445,000 after purchasing an additional 2,940 shares during the period. Caxton Associates LLP bought a new stake in shares of Ferguson during the first quarter valued at about $310,000. Focus Partners Wealth increased its position in shares of Ferguson by 22.7% during the first quarter. Focus Partners Wealth now owns 3,140 shares of the company's stock valued at $503,000 after buying an additional 581 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Ferguson in the second quarter worth about $257,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Ferguson by 7.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company's stock worth $150,000 after buying an additional 48 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Stock Down 0.7%

Shares of Ferguson stock opened at $221.64 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78. Ferguson plc has a 52-week low of $207.64 and a 52-week high of $271.64. The stock has a market capitalization of $42.98 billion, a price-to-earnings ratio of 25.77, a P/E/G ratio of 1.58 and a beta of 1.13. The company's 50 day moving average price is $233.52 and its 200-day moving average price is $240.29.

Ferguson (NYSE:FERG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $2.14 by $0.14. The company had revenue of $7.47 billion during the quarter. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The company's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.50 earnings per share. Equities research analysts forecast that Ferguson plc will post 11.26 EPS for the current year.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th were given a $0.89 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. Ferguson's payout ratio is presently 41.40%.

Ferguson announced that its board has authorized a share buyback program on Tuesday, May 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have issued reports on FERG. The Goldman Sachs Group cut shares of Ferguson from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $315.00 to $265.00 in a research note on Monday. Wells Fargo & Company upped their price objective on Ferguson from $260.00 to $285.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Royal Bank Of Canada lifted their price target on shares of Ferguson from $271.00 to $281.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 6th. Citigroup restated a "neutral" rating on shares of Ferguson in a report on Wednesday, May 6th. Finally, Barclays upped their price objective on shares of Ferguson from $295.00 to $297.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Ferguson presently has an average rating of "Moderate Buy" and a consensus target price of $276.61.

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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