CIBC Private Wealth Group LLC Acquires 24,175 Shares of Ferguson plc (NASDAQ:FERG)

CIBC Private Wealth Group LLC lifted its holdings in shares of Ferguson plc (NASDAQ:FERG) by 2,552.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 25,122 shares of the company’s stock after acquiring an additional 24,175 shares during the period. CIBC Private Wealth Group LLC’s holdings in Ferguson were worth $4,321,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Manchester Capital Management LLC lifted its stake in Ferguson by 906.7% during the fourth quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock worth $26,000 after purchasing an additional 136 shares during the period. True Wealth Design LLC lifted its position in shares of Ferguson by 1,350.0% during the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after buying an additional 135 shares during the period. Berbice Capital Management LLC acquired a new stake in Ferguson in the 4th quarter valued at $35,000. R Squared Ltd bought a new stake in Ferguson in the fourth quarter valued at $45,000. Finally, Private Trust Co. NA raised its stake in Ferguson by 92.5% during the fourth quarter. Private Trust Co. NA now owns 258 shares of the company’s stock worth $45,000 after acquiring an additional 124 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Price Performance

Shares of FERG stock opened at $160.61 on Wednesday. The firm has a market cap of $32.11 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 1.69 and a beta of 1.28. Ferguson plc has a 12 month low of $152.52 and a 12 month high of $225.63. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The stock has a 50-day moving average price of $173.08 and a 200 day moving average price of $187.26.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings results on Tuesday, March 11th. The company reported $1.52 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.06). Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same quarter in the prior year, the firm earned $1.74 EPS. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. Research analysts expect that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, March 21st will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, March 21st. Ferguson’s dividend payout ratio (DPR) is currently 40.84%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FERG. UBS Group reaffirmed a “neutral” rating and issued a $193.00 target price (down previously from $230.00) on shares of Ferguson in a report on Wednesday, January 8th. Bank of America raised shares of Ferguson from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $185.00 to $225.00 in a research note on Wednesday, January 8th. Citigroup cut their target price on shares of Ferguson from $189.00 to $168.00 and set a “neutral” rating for the company in a research note on Wednesday, March 12th. Robert W. Baird set a $190.00 price target on Ferguson and gave the stock an “outperform” rating in a research report on Wednesday, March 12th. Finally, Zelman & Associates downgraded Ferguson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 17th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.62.

Ferguson Company Profile

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.