Ceredex Value Advisors LLC Boosts Holdings in Ferguson plc $FERG

Ceredex Value Advisors LLC raised its position in shares of Ferguson plc (NYSE:FERG) by 111.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 183,143 shares of the company’s stock after acquiring an additional 96,468 shares during the period. Ferguson makes up about 1.2% of Ceredex Value Advisors LLC’s investment portfolio, making the stock its 13th largest position. Ceredex Value Advisors LLC’s holdings in Ferguson were worth $43,465,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Simplicity Wealth LLC lifted its holdings in shares of Ferguson by 1.6% in the 4th quarter. Simplicity Wealth LLC now owns 3,132 shares of the company’s stock worth $697,000 after acquiring an additional 48 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in Ferguson by 2.9% during the 4th quarter. Sivia Capital Partners LLC now owns 1,685 shares of the company’s stock valued at $375,000 after purchasing an additional 48 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Ferguson by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock worth $150,000 after purchasing an additional 48 shares during the period. REAP Financial Group LLC raised its position in Ferguson by 13.4% in the 4th quarter. REAP Financial Group LLC now owns 431 shares of the company’s stock worth $96,000 after purchasing an additional 51 shares during the period. Finally, Ethic Inc. lifted its stake in Ferguson by 0.3% in the fourth quarter. Ethic Inc. now owns 22,802 shares of the company’s stock worth $5,076,000 after purchasing an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Trading Down 1.4%

Shares of FERG opened at $239.83 on Friday. The firm has a market capitalization of $46.40 billion, a price-to-earnings ratio of 28.18, a PEG 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 1-year low of $207.64 and a 1-year high of $271.64. The company has a 50-day moving average of $236.94 and a 200 day moving average of $240.49.

Ferguson (NYSE:FERG) last issued its earnings results on Monday, August 10th. The company reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.16. The business had revenue of $8.75 billion for the quarter. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. On average, research analysts expect that Ferguson plc will post 11.39 EPS for the current year.

Ferguson Announces Dividend

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

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FERG. Weiss Ratings upgraded Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Oppenheimer increased their price target on Ferguson from $280.00 to $288.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Barclays raised their price target on Ferguson from $297.00 to $313.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. UBS Group boosted their price objective on Ferguson from $252.00 to $256.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Finally, The Goldman Sachs Group downgraded Ferguson from a “buy” rating to a “neutral” rating and cut their price objective for the company from $315.00 to $265.00 in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average 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.