Entropy Technologies LP Trims Stock Holdings in Ferguson plc $FERG

Entropy Technologies LP trimmed its holdings in Ferguson plc (NYSE:FERG) by 66.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,963 shares of the company’s stock after selling 27,129 shares during the period. Entropy Technologies LP’s holdings in Ferguson were worth $3,109,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of FERG. Brasada Capital Management LP grew its stake in Ferguson by 3.7% in the fourth quarter. Brasada Capital Management LP now owns 7,507 shares of the company’s stock worth $1,682,000 after purchasing an additional 269 shares in the last quarter. Aptus Capital Advisors LLC grew its stake in Ferguson by 9.6% in the fourth quarter. Aptus Capital Advisors LLC now owns 1,035 shares of the company’s stock worth $230,000 after purchasing an additional 91 shares in the last quarter. Kestra Advisory Services LLC grew its stake in Ferguson by 15.5% in the fourth quarter. Kestra Advisory Services LLC now owns 1,432 shares of the company’s stock worth $319,000 after purchasing an additional 192 shares in the last quarter. Meixler Investment Management Ltd. grew its stake in Ferguson by 172.5% in the fourth quarter. Meixler Investment Management Ltd. now owns 2,968 shares of the company’s stock worth $661,000 after purchasing an additional 1,879 shares in the last quarter. Finally, Maverick Capital Ltd. grew its stake in Ferguson by 50.1% in the fourth quarter. Maverick Capital Ltd. now owns 22,114 shares of the company’s stock worth $4,923,000 after purchasing an additional 7,380 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Stock Up 0.0%

Shares of NYSE FERG opened at $230.13 on Monday. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $44.63 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15. The stock’s fifty day simple moving average is $240.99 and its two-hundred day simple moving average is $241.08. Ferguson plc has a 12-month low of $207.64 and a 12-month high of $271.64.

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

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is 41.40%.

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

Analysts Set New Price Targets

FERG has been the topic of several research analyst reports. Wells Fargo & Company increased their price objective on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Jefferies Financial Group reissued a “buy” rating and issued a $300.00 price objective on shares of Ferguson in a research note on Tuesday, February 24th. Citigroup reissued a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. UBS Group increased their price objective on Ferguson from $220.00 to $252.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Finally, Truist Financial increased their price objective on Ferguson from $260.00 to $300.00 and gave the stock 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $277.77.

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.