3,000 Shares in Ferguson plc $FERG Bought by AlTi Global Inc.

AlTi Global Inc. purchased a new stake in Ferguson plc (NYSE:FERG) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,000 shares of the company’s stock, valued at approximately $700,000.

Other institutional investors also recently modified their holdings of the company. Leonteq Securities AG bought a new stake in Ferguson during the fourth quarter worth about $26,000. Basepoint Wealth LLC acquired a new position in shares of Ferguson during the 4th quarter worth approximately $26,000. Central Pacific Bank Trust Division bought a new stake in shares of Ferguson during the 4th quarter worth approximately $27,000. Grove Bank & Trust raised its stake in shares of Ferguson by 154.4% during the 4th quarter. Grove Bank & Trust now owns 145 shares of the company’s stock worth $32,000 after purchasing an additional 88 shares in the last quarter. Finally, Zions Bancorporation National Association UT boosted its holdings in shares of Ferguson by 123.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after buying an additional 79 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors.

Ferguson Price Performance

Shares of NYSE FERG opened at $229.04 on Tuesday. The firm has a market cap of $44.42 billion, a P/E ratio of 26.63, a price-to-earnings-growth ratio of 1.64 and a beta of 1.13. The business’s 50 day moving average is $230.04 and its 200-day moving average is $240.41. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68. Ferguson plc has a 1-year low of $207.64 and a 1-year high of $271.64.

Ferguson (NYSE:FERG) last released its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.14. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The business had revenue of $7.47 billion during the quarter. During the same quarter last year, the firm earned $2.50 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities research analysts predict that Ferguson plc will post 11.27 earnings per share for the current year.

Ferguson announced that its board has authorized a share repurchase plan on Tuesday, May 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Ferguson Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FERG shares. Zelman & Associates upgraded shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price objective on the stock in a research note on Friday. Barclays raised 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. Citigroup reissued a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. The Goldman Sachs Group lowered Ferguson from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $315.00 to $265.00 in a research note on Monday, July 6th. Finally, Royal Bank Of Canada raised their price objective on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $277.21.

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.