59 North Capital Management LP Buys 670,473 Shares of Ferguson plc $FERG

59 North Capital Management LP lifted its stake in shares of Ferguson plc (NYSE:FERG) by 114.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,255,137 shares of the company’s stock after purchasing an additional 670,473 shares during the quarter. Ferguson comprises approximately 8.8% of 59 North Capital Management LP’s portfolio, making the stock its 5th biggest position. 59 North Capital Management LP owned about 0.64% of Ferguson worth $281,879,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Ferguson by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 19,341,871 shares of the company’s stock valued at $4,211,692,000 after buying an additional 173,128 shares during the period. Franklin Resources Inc. lifted its stake in shares of Ferguson by 2.6% in the 3rd quarter. Franklin Resources Inc. now owns 4,367,818 shares of the company’s stock worth $980,921,000 after acquiring an additional 112,157 shares during the period. Wellington Management Group LLP lifted its stake in shares of Ferguson by 22.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,734,911 shares of the company’s stock worth $838,786,000 after acquiring an additional 682,666 shares during the period. Soroban Capital Partners LP boosted its holdings in shares of Ferguson by 2.8% in the second quarter. Soroban Capital Partners LP now owns 3,705,056 shares of the company’s stock valued at $806,776,000 after acquiring an additional 100,559 shares in the last quarter. Finally, Egerton Capital UK LLP boosted its holdings in shares of Ferguson by 16.4% in the third quarter. Egerton Capital UK LLP now owns 2,600,224 shares of the company’s stock valued at $583,958,000 after acquiring an additional 366,898 shares in the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FERG has been the subject of several analyst reports. Barclays increased their price target on shares of Ferguson from $278.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Wall Street Zen lowered Ferguson from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. UBS Group boosted their target price on Ferguson from $220.00 to $252.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Wells Fargo & Company increased their target price on Ferguson from $280.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Finally, Truist Financial raised their price target on Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $268.93.

Ferguson Stock Performance

Shares of NYSE FERG opened at $222.07 on Friday. The company has a 50-day simple moving average of $248.85 and a 200-day simple moving average of $240.43. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01. The company has a market cap of $43.19 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 1.79 and a beta of 1.17. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $271.64.

Ferguson (NYSE:FERG) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $1.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.25). Ferguson had a net margin of 6.93% and a return on equity of 40.37%. During the same quarter in the previous year, the company posted $1.52 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Friday, March 6th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, March 6th. Ferguson’s dividend payout ratio is currently 35.96%.

Key Headlines Impacting Ferguson

Here are the key news stories impacting Ferguson this week:

• Neutral Sentiment: Rebecca Ferguson (actor) confirms return window for Apple TV+ series “Silo” — entertainment press about the actress, not the company. Collider: Rebecca Ferguson on Silo
• Neutral Sentiment: Multiple outlets report Rebecca Ferguson discussing “Silo” Season 3 and Dune: Part 3 details — actor/entertainment coverage, unrelated to Ferguson plc. AOL: Silo Season 3
• Neutral Sentiment: Rebecca Ferguson appears on late-night TV (Seth Meyers) — celebrity appearance, no corporate link. MSN: Seth Meyers & Rebecca Ferguson
• Neutral Sentiment: Celebrity coverage of Sarah Ferguson (Duchess of York) — various human-interest and controversy stories (public apologies, social ties, living arrangements). These are reputational/celebrity items with no corporate relevance. Yahoo: Sarah Ferguson and Epstein
• Neutral Sentiment: Stories comparing Meghan Markle to Sarah Ferguson and articles about Priscilla Presley and Sarah Ferguson — entertainment/viral coverage, not company news. MSN: Meghan Markle comparison
• Neutral Sentiment: Reports on Sarah Ferguson’s personal comments about other celebrities and alleged tensions with the royal family — tabloid/celebrity reporting, no corporate implications. MSN: Sarah Ferguson on Lisa Marie Presley
• Neutral Sentiment: Sports feature on Brighton’s Evan Ferguson (soccer) — player/club coverage, not related to Ferguson plc’s business. NYT: Evan Ferguson feature

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.