PointState Capital LP Makes New $75.64 Million Investment in Ferguson plc (NASDAQ:FERG)

PointState Capital LP bought a new position in Ferguson plc (NASDAQ:FERG - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 435,794 shares of the company's stock, valued at approximately $75,641,000. Ferguson comprises approximately 1.4% of PointState Capital LP's portfolio, making the stock its 24th biggest position. PointState Capital LP owned about 0.22% of Ferguson as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Manchester Capital Management LLC increased its position in shares of Ferguson by 906.7% during the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company's stock worth $26,000 after purchasing an additional 136 shares during the last quarter. LGT Financial Advisors LLC boosted its stake in shares of Ferguson by 106.3% in the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock valued at $34,000 after buying an additional 102 shares during the period. Berbice Capital Management LLC purchased a new position in shares of Ferguson in the 4th quarter valued at about $35,000. R Squared Ltd purchased a new position in shares of Ferguson in the 4th quarter valued at about $45,000. Finally, Private Trust Co. NA lifted its stake in Ferguson by 92.5% during the fourth quarter. Private Trust Co. NA now owns 258 shares of the company's stock worth $45,000 after purchasing an additional 124 shares during the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Stock Performance

Shares of NASDAQ:FERG opened at $175.33 on Thursday. The company has a market cap of $35.06 billion, a P/E ratio of 21.05, a PEG ratio of 1.69 and a beta of 1.14. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. Ferguson plc has a one year low of $146.00 and a one year high of $225.63. The business's 50-day simple moving average is $164.27 and its 200 day simple moving average is $179.80.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its earnings results on Tuesday, March 11th. The company reported $1.52 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.06). The company had revenue of $6.87 billion for the quarter, compared to analysts' expectations of $6.76 billion. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The business's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.74 earnings per share. On average, sell-side analysts forecast that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st were paid a dividend of $0.83 per share. The ex-dividend date was Friday, March 21st. This represents a $3.32 dividend on an annualized basis and a yield of 1.89%. Ferguson's dividend payout ratio (DPR) is presently 40.84%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Morgan Stanley assumed coverage on Ferguson in a research note on Monday, February 3rd. They issued an "overweight" rating and a $204.00 price objective for the company. Wells Fargo & Company boosted their target price on Ferguson from $180.00 to $190.00 and gave the company an "overweight" rating in a report on Monday, April 14th. Deutsche Bank Aktiengesellschaft initiated coverage on Ferguson in a report on Tuesday, April 1st. They issued a "hold" rating and a $174.00 target price on the stock. Robert W. Baird set a $190.00 target price on Ferguson and gave the company an "outperform" rating in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. decreased their price objective on Ferguson from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 19th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Ferguson has a consensus rating of "Moderate Buy" and a consensus price target of $199.38.

Ferguson Company Profile

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.

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