Dana Investment Advisors Inc. Increases Stock Position in Ferguson plc $FERG

Dana Investment Advisors Inc. boosted its stake in Ferguson plc (NYSE:FERG) by 8.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 36,603 shares of the company’s stock after buying an additional 2,962 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Ferguson were worth $8,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of FERG. Durable Capital Partners LP purchased a new stake in Ferguson in the third quarter valued at $244,561,000. Qube Research & Technologies Ltd lifted its position in Ferguson by 588.1% in the third quarter. Qube Research & Technologies Ltd now owns 1,087,523 shares of the company’s stock valued at $244,236,000 after acquiring an additional 929,475 shares during the last quarter. Wellington Management Group LLP lifted its position in Ferguson by 22.4% in the third quarter. Wellington Management Group LLP now owns 3,734,911 shares of the company’s stock valued at $838,786,000 after acquiring an additional 682,666 shares during the last quarter. 59 North Capital Management LP lifted its position in Ferguson by 114.7% in the third quarter. 59 North Capital Management LP now owns 1,255,137 shares of the company’s stock valued at $281,879,000 after acquiring an additional 670,473 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its position in Ferguson by 502.8% in the third quarter. Voloridge Investment Management LLC now owns 765,725 shares of the company’s stock valued at $171,967,000 after acquiring an additional 638,692 shares during the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Trading Down 3.6%

NYSE FERG opened at $223.63 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88. The firm has a market cap of $43.37 billion, a PE ratio of 26.00, a P/E/G ratio of 1.59 and a beta of 1.23. Ferguson plc has a one year low of $176.26 and a one year high of $271.64. The firm’s fifty day moving average is $241.07 and its two-hundred day moving average is $243.71.

Ferguson (NYSE:FERG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. Ferguson had a net margin of 6.98% and a return on equity of 38.92%. The business had revenue of $7.47 billion for the quarter. During the same quarter last year, the firm earned $2.50 earnings per share. The company’s revenue was up 3.6% compared to the same quarter last year. Analysts expect that Ferguson plc will post 11.25 earnings per share for the current year.

Ferguson declared that its Board of Directors has initiated a share 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 usually an indication that the company’s leadership believes its stock is undervalued.

Ferguson Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on FERG. UBS Group lifted their price objective 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. Oppenheimer lifted their price objective 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. Wells Fargo & Company lifted their price objective on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Truist Financial lifted their price objective 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. Finally, Barclays lifted their price objective on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $269.73.

Ferguson 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.