Clearbridge Investments LLC Buys 382,080 Shares of Ferguson plc $FERG

Clearbridge Investments LLC grew its stake in shares of Ferguson plc (NYSE:FERG) by 221.5% in the fourth quarter, Holdings Channel reports. The fund owned 554,575 shares of the company’s stock after acquiring an additional 382,080 shares during the quarter. Clearbridge Investments LLC’s holdings in Ferguson were worth $123,465,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Basepoint Wealth LLC purchased a new stake in shares of Ferguson during the 4th quarter valued at approximately $26,000. Leonteq Securities AG purchased a new stake in shares of Ferguson during the 4th quarter valued at approximately $26,000. Central Pacific Bank Trust Division purchased a new stake in shares of Ferguson during the 4th quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Ferguson during the 3rd quarter valued at approximately $28,000. Finally, Grove Bank & Trust lifted its stake in shares of Ferguson by 154.4% during the 4th quarter. Grove Bank & Trust now owns 145 shares of the company’s stock valued at $32,000 after buying an additional 88 shares in the last quarter. 81.98% of the stock is owned by institutional investors.

Ferguson Stock Performance

NYSE FERG opened at $229.14 on Monday. Ferguson plc has a 1 year low of $207.64 and a 1 year high of $271.64. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96. The stock has a market capitalization of $44.44 billion, a PE ratio of 26.64, a P/E/G ratio of 1.63 and a beta of 1.15. The company’s 50 day simple moving average is $241.02 and its two-hundred day simple moving average is $241.37.

Ferguson (NYSE:FERG) last posted its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.14. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The business had revenue of $7.47 billion for the quarter. During the same quarter in the prior year, the company earned $2.50 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Analysts predict that Ferguson plc will post 11.26 earnings per share for the current fiscal year.

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

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be paid a $0.89 dividend. The ex-dividend date is Friday, May 15th. This represents a $3.56 annualized dividend and a yield of 1.6%. Ferguson’s dividend payout ratio is currently 41.40%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FERG. Oppenheimer upped their price target on shares of Ferguson from $255.00 to $280.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Royal Bank Of Canada upped their price target on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. UBS Group upped their price target on shares of Ferguson from $220.00 to $252.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Citigroup restated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Finally, Truist Financial upped their price target on shares of Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $273.64.

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.