Cibc World Market Inc. Grows Stake in Ferguson plc $FERG

Cibc World Market Inc. raised its stake in shares of Ferguson plc (NYSE:FERG) by 79.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,328 shares of the company’s stock after purchasing an additional 5,463 shares during the period. Cibc World Market Inc.’s holdings in Ferguson were worth $2,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. True Wealth Design LLC raised its holdings in Ferguson by 145.3% during the 2nd quarter. True Wealth Design LLC now owns 130 shares of the company’s stock valued at $28,000 after buying an additional 77 shares during the period. Cornerstone Planning Group LLC increased its position in Ferguson by 178.3% during the third quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock valued at $31,000 after acquiring an additional 82 shares during the last quarter. Quent Capital LLC purchased a new stake in shares of Ferguson in the third quarter valued at $43,000. Harbour Investments Inc. lifted its holdings in shares of Ferguson by 61.3% in the 2nd quarter. Harbour Investments Inc. now owns 242 shares of the company’s stock worth $53,000 after acquiring an additional 92 shares during the last quarter. Finally, AdvisorShares Investments LLC bought a new stake in shares of Ferguson in the 2nd quarter worth about $58,000. 81.98% of the stock is owned by institutional investors.

Ferguson Stock Down 0.9%

Shares of NYSE FERG opened at $261.34 on Monday. 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 capitalization of $51.10 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 2.17 and a beta of 1.17. The stock has a 50 day moving average price of $240.98 and a 200 day moving average price of $237.77. Ferguson plc has a 52-week low of $146.00 and a 52-week high of $271.64.

Ferguson (NYSE:FERG) last released its quarterly earnings data on Tuesday, December 9th. The company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.77 by $0.07. Ferguson had a return on equity of 35.73% and a net margin of 6.28%.The company had revenue of $8.17 billion for the quarter. During the same quarter in the previous year, the business earned $2.45 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year.

Ferguson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, January 2nd will be issued a $0.89 dividend. The ex-dividend date is Friday, January 2nd. This is an increase from Ferguson’s previous quarterly dividend of $0.83. This represents a $3.56 annualized dividend and a dividend yield of 1.4%. Ferguson’s dividend payout ratio is presently 35.96%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank Of Canada reissued an “outperform” rating on shares of Ferguson in a research report on Friday, January 9th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Ferguson in a research note on Thursday, January 8th. UBS Group decreased their price target on Ferguson from $225.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, December 10th. Wall Street Zen cut Ferguson from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Ferguson in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Ferguson currently has a consensus rating of “Moderate Buy” and an average price target of $253.00.

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.