Ferguson plc $FERG Shares Acquired by Sycale Advisors NY LLC

Sycale Advisors NY LLC boosted its stake in Ferguson plc (NYSE:FERG) by 321.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,109 shares of the company’s stock after buying an additional 32,119 shares during the period. Ferguson accounts for approximately 3.1% of Sycale Advisors NY LLC’s investment portfolio, making the stock its 13th largest holding. Sycale Advisors NY LLC’s holdings in Ferguson were worth $9,994,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in FERG. Simplicity Wealth LLC grew its position in shares of Ferguson by 1.6% during the fourth 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 lifted its position in Ferguson by 2.9% in 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. lifted 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 valued at $150,000 after purchasing an additional 48 shares during the last quarter. REAP Financial Group LLC boosted its stake in Ferguson by 13.4% during the 4th quarter. REAP Financial Group LLC now owns 431 shares of the company’s stock valued at $96,000 after purchasing an additional 51 shares during the period. Finally, Ethic Inc. boosted its stake in Ferguson by 0.3% during the 4th quarter. Ethic Inc. now owns 22,802 shares of the company’s stock valued at $5,076,000 after purchasing an additional 62 shares during the period. 81.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on FERG. Sanford C. Bernstein upped their target price on shares of Ferguson from $310.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. The Goldman Sachs Group cut Ferguson from a “buy” rating to a “neutral” rating and cut their price target for the company from $315.00 to $265.00 in a report on Monday, July 6th. Wells Fargo & Company boosted their price objective on Ferguson from $285.00 to $295.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Robert W. Baird increased their price objective on Ferguson from $285.00 to $288.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Finally, UBS Group raised their target price on Ferguson from $252.00 to $256.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Ferguson presently has an average rating of “Moderate Buy” and a consensus target price of $285.93.

Ferguson Stock Down 1.4%

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

Ferguson (NYSE:FERG) last announced its earnings results on Monday, August 10th. The company reported $3.39 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.16. The business had revenue of $8.75 billion during the quarter. Ferguson had a return on equity of 37.24% and a net margin of 6.82%. On average, equities analysts predict that Ferguson plc will post 11.39 EPS for the current fiscal year.

Ferguson Dividend Announcement

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

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

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.