McElhenny Sheffield Capital Management LLC Makes New Investment in Ferguson plc $FERG

Key Points

• McElhenny Sheffield Capital Management LLC acquired a new position in Ferguson plc during Q2, buying 68,000 shares valued at approximately $14.8 million, making it 1.0% of their portfolio.
• Ferguson reported earnings of $3.48 per share for the last quarter, surpassing expectations of $3.00, with revenues totaling $8.50 billion.
• The company announced a quarterly dividend of $0.83, representing an annualized yield of 1.4%, scheduled for payment on November 7th.

McElhenny Sheffield Capital Management LLC bought a new position in shares of Ferguson plc (NYSE:FERG - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 68,000 shares of the company's stock, valued at approximately $14,807,000. Ferguson accounts for 1.0% of McElhenny Sheffield Capital Management LLC's portfolio, making the stock its 16th largest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FERG. Grove Bank & Trust grew its holdings in shares of Ferguson by 247.4% during the 1st quarter. Grove Bank & Trust now owns 198 shares of the company's stock worth $32,000 after acquiring an additional 141 shares during the period. TD Private Client Wealth LLC grew its holdings in shares of Ferguson by 56.5% during the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock worth $33,000 after acquiring an additional 74 shares during the period. Brooklyn Investment Group grew its holdings in shares of Ferguson by 103.6% during the 1st quarter. Brooklyn Investment Group now owns 226 shares of the company's stock worth $36,000 after acquiring an additional 115 shares during the period. Fifth Third Bancorp grew its holdings in shares of Ferguson by 230.8% during the 2nd quarter. Fifth Third Bancorp now owns 172 shares of the company's stock worth $37,000 after acquiring an additional 120 shares during the period. Finally, Maseco LLP purchased a new position in shares of Ferguson during the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 81.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FERG. Barclays upped their target price on Ferguson from $247.00 to $273.00 and gave the stock an "overweight" rating in a report on Thursday, September 18th. Weiss Ratings restated a "buy (b-)" rating on shares of Ferguson in a research note on Wednesday. Wells Fargo & Company upped their price target on Ferguson from $250.00 to $275.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 17th. Royal Bank Of Canada upped their price target on Ferguson from $231.00 to $243.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 17th. Finally, Oppenheimer upped their price target on Ferguson from $235.00 to $255.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $235.71.

Ferguson Price Performance

NYSE FERG opened at $234.69 on Thursday. The company's fifty day moving average price is $228.68. The company has a market cap of $46.03 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 1.90 and a beta of 1.17. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $243.40.

Ferguson (NYSE:FERG - Get Free Report) last released its quarterly earnings results on Tuesday, September 16th. The company reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.48. The firm had revenue of $8.50 billion for the quarter, compared to analysts' expectations of $8.44 billion. Ferguson had a return on equity of 35.21% and a net margin of 6.03%.

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, September 26th. Ferguson's dividend payout ratio (DPR) is currently 35.55%.

About Ferguson

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.

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