Silvant Capital Management LLC Acquires 11,554 Shares of Ferguson plc $FERG

Key Points

• Silvant Capital Management increased its Ferguson stake by 61.4% in the second quarter, acquiring 11,554 shares for a total holding valued at $7.2 million. Institutional investors collectively own 81.98% of the company.
• Ferguson exceeded quarterly earnings expectations, reporting $3.39 EPS versus the $3.23 consensus on $8.75 billion in revenue. The company also declared a $0.89 quarterly dividend and authorized a $2 billion share-buyback program.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and a $285.93 target price versus the stock’s reported $239.83 price. Recent price targets range as high as $325.

Silvant Capital Management LLC raised its holdings in Ferguson plc (NYSE:FERG - Free Report) by 61.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,365 shares of the company's stock after acquiring an additional 11,554 shares during the quarter. Silvant Capital Management LLC's holdings in Ferguson were worth $7,207,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Ferguson by 23.9% during 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 last quarter. Caxton Associates LLP bought a new position in shares of Ferguson during the 1st quarter valued at $310,000. Focus Partners Wealth lifted its stake in shares of Ferguson by 22.7% in the 1st quarter. Focus Partners Wealth now owns 3,140 shares of the company's stock valued at $503,000 after purchasing an additional 581 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Ferguson in the 2nd quarter valued at $257,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in 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 purchasing an additional 48 shares in the last quarter. 81.98% of the stock is owned by institutional investors.

Ferguson Stock Performance

Shares of FERG opened at $239.83 on Friday. The company has a market capitalization of $46.40 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 1.69 and a beta of 1.14. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 0.93. Ferguson plc has a one year low of $207.64 and a one year high of $271.64. The company's fifty day moving average price is $236.94 and its 200 day moving average price is $240.49.

Ferguson (NYSE:FERG - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported $3.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.23 by $0.16. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. The company had revenue of $8.75 billion during the quarter. As a group, analysts expect that Ferguson plc will post 11.39 earnings per share for the current year.

Ferguson Dividend Announcement

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

Ferguson announced that its board has initiated a share buyback plan on Tuesday, May 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

FERG has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $261.00 target price on shares of Ferguson in a research report on Tuesday. The Goldman Sachs Group cut Ferguson from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $315.00 to $265.00 in a research report on Monday, July 6th. Wells Fargo & Company increased their price objective on Ferguson from $285.00 to $295.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Barclays raised their price objective on Ferguson from $297.00 to $313.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. Finally, Sanford C. Bernstein boosted their target price on Ferguson from $310.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Ferguson has an average rating of "Moderate Buy" and a consensus target price of $285.93.

About Ferguson

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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