Frank Rimerman Advisors LLC Takes Position in Ferguson plc (NASDAQ:FERG)

Frank Rimerman Advisors LLC acquired a new stake in shares of Ferguson plc (NASDAQ:FERG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,250 shares of the company’s stock, valued at approximately $629,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Transatlantique Private Wealth LLC lifted its holdings in shares of Ferguson by 3.0% during the 2nd quarter. Transatlantique Private Wealth LLC now owns 2,035 shares of the company’s stock valued at $394,000 after buying an additional 60 shares during the period. Summit Trail Advisors LLC grew its holdings in shares of Ferguson by 139.2% in the second quarter. Summit Trail Advisors LLC now owns 9,110 shares of the company’s stock worth $1,772,000 after acquiring an additional 5,301 shares during the period. Thrivent Financial for Lutherans increased its position in Ferguson by 18.0% during the second quarter. Thrivent Financial for Lutherans now owns 153,877 shares of the company’s stock valued at $29,798,000 after acquiring an additional 23,470 shares during the last quarter. Sei Investments Co. lifted its holdings in Ferguson by 113.6% in the second quarter. Sei Investments Co. now owns 322,558 shares of the company’s stock valued at $62,463,000 after acquiring an additional 171,572 shares during the period. Finally, MQS Management LLC boosted its position in Ferguson by 58.4% in the second quarter. MQS Management LLC now owns 4,375 shares of the company’s stock worth $847,000 after purchasing an additional 1,613 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Up 1.9 %

FERG opened at $200.16 on Tuesday. Ferguson plc has a fifty-two week low of $147.62 and a fifty-two week high of $225.63. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68. The stock has a market cap of $40.42 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 6.13 and a beta of 1.21. The firm’s fifty day moving average is $204.62 and its 200 day moving average is $206.88.

Ferguson (NASDAQ:FERG) last released its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12. Ferguson had a return on equity of 36.89% and a net margin of 6.33%. The firm had revenue of $7.95 billion during the quarter, compared to analyst estimates of $8.01 billion. During the same quarter in the prior year, the company posted $2.77 earnings per share. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, sell-side analysts forecast that Ferguson plc will post 9.63 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Friday, September 27th. Ferguson’s payout ratio is currently 34.54%.

Ferguson declared that its board has authorized a stock buyback plan on Tuesday, June 4th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 2.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Royal Bank of Canada increased their price objective on shares of Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. Citigroup upped their target price on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. Robert W. Baird lifted their price target on shares of Ferguson from $222.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. UBS Group upped their price objective on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Wells Fargo & Company lowered their target price on Ferguson from $250.00 to $225.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $231.57.

Ferguson Company Profile

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.