Duff & Phelps Investment Management Co. Cuts Stake in Ferguson plc $FERG

Duff & Phelps Investment Management Co. reduced its position in Ferguson plc (NYSE:FERG) by 26.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,508 shares of the company’s stock after selling 6,958 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in Ferguson were worth $4,381,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its holdings in Ferguson by 25.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 92,096 shares of the company’s stock worth $20,683,000 after acquiring an additional 18,880 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Ferguson by 4.4% in the 3rd quarter. Mackenzie Financial Corp now owns 39,457 shares of the company’s stock valued at $8,861,000 after purchasing an additional 1,665 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Ferguson by 2.6% in the 3rd quarter. Franklin Resources Inc. now owns 4,367,818 shares of the company’s stock worth $980,921,000 after purchasing an additional 112,157 shares during the period. Magnetar Financial LLC lifted its position in shares of Ferguson by 1,446.2% in the 3rd quarter. Magnetar Financial LLC now owns 28,125 shares of the company’s stock worth $6,316,000 after purchasing an additional 26,306 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Ferguson by 2.0% during the third quarter. Van ECK Associates Corp now owns 33,921 shares of the company’s stock valued at $7,618,000 after purchasing an additional 659 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Stock Performance

Shares of FERG stock opened at $231.45 on Thursday. The business’s fifty day simple moving average is $248.96 and its 200-day simple moving average is $240.60. The company has a market cap of $45.02 billion, a PE ratio of 23.38, a PEG ratio of 1.83 and a beta of 1.17. The company has a current ratio of 1.88, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $271.64.

Ferguson (NYSE:FERG) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $1.99 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.25). Ferguson had a net margin of 6.93% and a return on equity of 40.37%. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.52 EPS.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Friday, March 6th will be paid a $0.89 dividend. The ex-dividend date is Friday, March 6th. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. Ferguson’s dividend payout ratio (DPR) is 35.96%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FERG. Oppenheimer lifted their price objective on shares of Ferguson from $255.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Royal Bank Of Canada increased their target price on Ferguson from $247.00 to $271.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Ferguson in a report on Thursday, January 8th. Jefferies Financial Group restated a “buy” rating and set a $300.00 price objective on shares of Ferguson in a research note on Tuesday, February 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Ferguson from $237.00 to $246.00 and gave the company a “hold” rating in a research report on Thursday, December 11th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $268.93.

Key Stories Impacting Ferguson

Here are the key news stories impacting Ferguson this week:

• Positive Sentiment: Analysts/technicals: Zacks notes FERG fell ~13.6% over four weeks and is technically in oversold territory, arguing a trend reversal may be possible as Wall Street consensus has been revising earnings estimates upward. This supports a potential near-term bounce. FERG Loses 13.6% in 4 Weeks
• Positive Sentiment: Short interest fell sharply in February (down ~34.2% to ~1.79M shares, ~0.9% of float; short-interest ratio ~1.1 days). Lower short interest reduces the risk of continued squeezes and may remove a source of selling pressure. (Source: recent short-interest data)
• Neutral Sentiment: Rebecca Ferguson/Silo season 3 media coverage — several entertainment outlets report Rebecca Ferguson confirmed a release window for Apple TV’s “Silo” Season 3. This is celebrity/brand news and unlikely to affect the industrial distribution business of Ferguson plc. Rebecca Ferguson Confirms Silo Season 3 Release Date Window
• Neutral Sentiment: Other celebrity/press items (stories about Sarah Ferguson, Priscilla Presley, pop-culture interviews) are unrelated to Ferguson plc’s operations and unlikely to move the stock. Example coverage: social/celebrity articles in MSN/AOL/Yahoo.
• Neutral Sentiment: Sports profile: The NYT ran a piece on soccer player Evan Ferguson and Brighton (unrelated to Ferguson plc). Evan Ferguson and Kaoru Mitoma
• Negative Sentiment: Fundamentals/earnings: Ferguson missed Q4 consensus (reported $1.99 EPS vs. $2.24 expected), which likely spurred part of the recent selloff. Revenues rose modestly (+3.6% YoY) but the EPS miss and any cautious forward commentary remain a headwind for the shares.

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.