AQR Capital Management LLC Purchases 26,671 Shares of Ferguson plc (NASDAQ:FERG)

AQR Capital Management LLC grew its holdings in Ferguson plc (NASDAQ:FERG) by 10.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 278,639 shares of the company’s stock after purchasing an additional 26,671 shares during the quarter. AQR Capital Management LLC owned approximately 0.14% of Ferguson worth $53,958,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Daiwa Securities Group Inc. grew its holdings in Ferguson by 80.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 32,811 shares of the company’s stock worth $7,166,000 after acquiring an additional 14,590 shares during the period. Meeder Asset Management Inc. increased its holdings in Ferguson by 14.5% in the first quarter. Meeder Asset Management Inc. now owns 75,505 shares of the company’s stock valued at $16,493,000 after purchasing an additional 9,562 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in Ferguson in the second quarter valued at about $2,834,000. Lighthouse Investment Partners LLC lifted its stake in Ferguson by 20.8% in the fourth quarter. Lighthouse Investment Partners LLC now owns 60,406 shares of the company’s stock valued at $11,663,000 after buying an additional 10,406 shares during the period. Finally, Duality Advisers LP bought a new position in Ferguson during the first quarter worth about $5,016,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FERG. Robert W. Baird lifted their price objective 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. Citigroup lifted their price target on shares of Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. Wells Fargo & Company lowered their price objective on shares of Ferguson from $250.00 to $225.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. Royal Bank of Canada lifted their target price on Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Finally, Barclays increased their price target on Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.57.

Ferguson Price Performance

FERG stock opened at $201.84 on Friday. The stock has a market cap of $40.76 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 3.36 and a beta of 1.21. The stock has a 50-day moving average price of $203.83 and a two-hundred day moving average price of $206.83. Ferguson plc has a 1 year low of $147.62 and a 1 year high of $225.63. The company has a current ratio of 1.68, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12. Ferguson had a return on equity of 37.03% and a net margin of 5.85%. The business had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $8.01 billion. During the same period last year, the company earned $2.77 earnings per share. Ferguson’s quarterly revenue was up 1.4% on a year-over-year basis. Equities analysts forecast that Ferguson plc will post 9.86 EPS for the current fiscal year.

Ferguson announced that its board has initiated a share repurchase plan on Tuesday, June 4th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be paid a $0.79 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.16 annualized dividend and a yield of 1.57%. Ferguson’s payout ratio is currently 34.54%.

About Ferguson

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.