Magnetar Financial LLC Buys 26,306 Shares of Ferguson plc $FERG

Key Points

• Magnetar Financial LLC boosted its stake in Ferguson by 1,446.2% in Q3, buying 26,306 shares to hold 28,125 shares valued at about $6.316 million.
• Ferguson reported $1.99 EPS, missing estimates of $2.24 despite revenue rising 3.6% year-over-year, and declared a $0.89 quarterly dividend (annualized $3.56, ~1.6% yield); analysts' consensus is a Moderate Buy with an average price target of $262.62.

Magnetar Financial LLC raised its position in shares of Ferguson plc (NYSE:FERG - Free Report) by 1,446.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 28,125 shares of the company's stock after purchasing an additional 26,306 shares during the quarter. Magnetar Financial LLC's holdings in Ferguson were worth $6,316,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Planning Group LLC boosted its stake in shares of Ferguson by 178.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company's stock valued at $31,000 after purchasing an additional 82 shares during the last quarter. Quent Capital LLC bought a new position in Ferguson during the third quarter worth $43,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Ferguson by 21.7% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 292 shares of the company's stock valued at $66,000 after buying an additional 52 shares during the period. CX Institutional lifted its holdings in Ferguson by 9,900.0% in the third quarter. CX Institutional now owns 300 shares of the company's stock valued at $67,000 after buying an additional 297 shares during the period. Finally, Mendota Financial Group LLC bought a new stake in Ferguson during the third quarter valued at $69,000. Institutional investors and hedge funds own 81.98% of the company's stock.

Ferguson Trading Down 1.1%

FERG opened at $227.98 on Wednesday. The company has a fifty day moving average price of $248.78 and a two-hundred day moving average price of $240.66. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $271.64. The company has a market cap of $44.34 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 1.85 and a beta of 1.17. The company has a current ratio of 1.88, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68.

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

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, March 6th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, March 6th. Ferguson's dividend payout ratio is 35.96%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on FERG shares. Royal Bank Of Canada lifted their price objective on Ferguson from $247.00 to $271.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft upped their target price on Ferguson from $237.00 to $246.00 and gave the company a "hold" rating in a research report on Thursday, December 11th. Robert W. Baird raised their target price on Ferguson from $262.00 to $265.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 10th. Truist Financial lifted 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. Finally, Morgan Stanley reissued an "overweight" rating on shares of Ferguson in a research note on Tuesday, January 6th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $262.62.

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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