2,288 Shares in Ferguson plc $FERG Bought by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. purchased a new stake in Ferguson plc (NYSE:FERG) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,288 shares of the company’s stock, valued at approximately $534,000.

Other hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC raised its holdings in shares of Ferguson by 1.1% during the 4th quarter. Signaturefd LLC now owns 3,979 shares of the company’s stock valued at $886,000 after buying an additional 44 shares during the period. Simplicity Wealth LLC grew its position in Ferguson by 1.6% in the fourth quarter. Simplicity Wealth LLC now owns 3,132 shares of the company’s stock valued at $697,000 after acquiring an additional 48 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of Ferguson by 2.9% during the fourth quarter. Sivia Capital Partners LLC now owns 1,685 shares of the company’s stock valued at $375,000 after purchasing an additional 48 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Ferguson by 7.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock valued at $150,000 after purchasing an additional 48 shares during the period. Finally, REAP Financial Group LLC lifted its position in shares of Ferguson by 13.4% during the fourth quarter. REAP Financial Group LLC now owns 431 shares of the company’s stock worth $96,000 after purchasing an additional 51 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FERG shares. Barclays upped their target price 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. Zelman & Associates raised shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price target on the stock in a research note on Friday. Wells Fargo & Company boosted their price objective on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. The Goldman Sachs Group cut shares of Ferguson from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $315.00 to $265.00 in a research report on Monday, July 6th. Finally, Weiss Ratings upgraded Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $277.21.

Ferguson Stock Down 1.3%

FERG stock opened at $229.04 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96. Ferguson plc has a 1-year low of $207.64 and a 1-year high of $271.64. The firm has a fifty day moving average price of $230.04 and a two-hundred day moving average price of $240.41. The firm has a market cap of $44.42 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 1.64 and a beta of 1.13.

Ferguson (NYSE:FERG) last posted 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. The company had revenue of $7.47 billion for the quarter. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.50 earnings per share. Research analysts predict that Ferguson plc will post 11.27 EPS for the current year.

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th were issued a dividend of $0.89 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.56 annualized dividend and a dividend yield of 1.6%. Ferguson’s dividend payout ratio is 41.40%.

Ferguson announced that its Board of Directors has initiated a stock repurchase program on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Ferguson Company 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.