Promethos Capital LLC Has $1.75 Million Position in Ferguson plc $FERG

Key Points

• Promethos Capital cut its Ferguson stake by 48.8% in the second quarter, selling 7,030 shares and retaining 7,385 shares valued at approximately $1.75 million. Institutional investors collectively own 81.98% of Ferguson.
• Ferguson reported quarterly EPS of $3.39, beating estimates of $3.23, on revenue of $8.75 billion. The company also authorized a $2 billion share-repurchase program and announced a quarterly dividend of $0.89 per share.
• Analyst sentiment remains favorable, with Ferguson carrying a consensus “Moderate Buy” rating and an average price target of $285.93, compared with a recent share price of $242.36.

Promethos Capital LLC lessened its stake in Ferguson plc (NYSE:FERG - Free Report) by 48.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,385 shares of the company's stock after selling 7,030 shares during the period. Promethos Capital LLC's holdings in Ferguson were worth $1,753,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FERG. Raiffeisen Bank International AG lifted its position in Ferguson by 350,745.0% during the 4th quarter. Raiffeisen Bank International AG now owns 522,759 shares of the company's stock valued at $116,382,000 after purchasing an additional 522,610 shares during the period. Marsico Capital Management LLC bought a new stake in shares of Ferguson during the fourth quarter worth approximately $11,017,000. Lmcg Investments LLC acquired a new position in Ferguson in the first quarter valued at approximately $1,806,000. D.A. Davidson & CO. lifted its holdings in Ferguson by 89.6% in the fourth quarter. D.A. Davidson & CO. now owns 30,983 shares of the company's stock valued at $6,898,000 after buying an additional 14,644 shares during the period. Finally, Forsta AP Fonden boosted its stake in Ferguson by 63.8% in the fourth quarter. Forsta AP Fonden now owns 71,900 shares of the company's stock valued at $16,007,000 after acquiring an additional 28,000 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company's stock.

Ferguson Stock Performance

FERG stock opened at $242.36 on Friday. Ferguson plc has a 1-year low of $207.64 and a 1-year high of $271.64. The company has a current ratio of 1.73, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The firm has a market cap of $46.88 billion, a PE ratio of 28.48, a P/E/G ratio of 1.68 and a beta of 1.14. The business's 50-day moving average price is $237.18 and its two-hundred day moving average price is $240.50.

Ferguson (NYSE:FERG - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $8.75 billion during the quarter. Ferguson had a return on equity of 37.24% and a net margin of 6.82%. As a group, research analysts forecast that Ferguson plc will post 11.42 earnings per share for the current year.

Ferguson announced that its Board of Directors has approved a stock repurchase program on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its stock is undervalued.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Friday, August 21st will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 21st. Ferguson's dividend payout ratio is presently 41.83%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FERG. Weiss Ratings raised Ferguson from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, July 2nd. Wells Fargo & Company lifted their price objective on Ferguson from $285.00 to $295.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 11th. Sanford C. Bernstein upped their price objective on Ferguson from $310.00 to $325.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. Zelman & Associates raised Ferguson from a "hold" rating to an "outperform" rating and set a $285.00 target price on the stock in a research note on Friday, July 17th. Finally, Oppenheimer raised their target price on Ferguson from $280.00 to $288.00 and gave the stock an "outperform" rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Ferguson presently has a consensus rating of "Moderate Buy" and a consensus price target of $285.93.

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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