Baupost Group LLC MA Purchases New Stake in Ferguson plc (NASDAQ:FERG)

Baupost Group LLC MA acquired a new position in Ferguson plc (NASDAQ:FERG) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,132,000 shares of the company’s stock, valued at approximately $196,481,000. Ferguson accounts for about 5.7% of Baupost Group LLC MA’s portfolio, making the stock its 6th largest position. Baupost Group LLC MA owned 0.57% of Ferguson as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC grew its position in shares of Ferguson by 906.7% in the fourth quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock valued at $26,000 after purchasing an additional 136 shares in the last quarter. Berbice Capital Management LLC bought a new stake in shares of Ferguson during the fourth quarter valued at about $35,000. R Squared Ltd bought a new position in shares of Ferguson in the fourth quarter valued at approximately $45,000. Private Trust Co. NA increased its holdings in Ferguson by 92.5% during the 4th quarter. Private Trust Co. NA now owns 258 shares of the company’s stock worth $45,000 after acquiring an additional 124 shares during the period. Finally, Assetmark Inc. boosted its holdings in Ferguson by 41.1% in the 4th quarter. Assetmark Inc. now owns 333 shares of the company’s stock valued at $58,000 after purchasing an additional 97 shares during the period. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FERG. Wolfe Research started coverage on shares of Ferguson in a research report on Monday, March 17th. They set a “peer perform” rating for the company. 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 report on Wednesday, March 12th. Royal Bank of Canada restated an “outperform” rating and set a $189.00 price target on shares of Ferguson in a research report on Tuesday, March 18th. Wells Fargo & Company reduced their price objective on Ferguson from $205.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Finally, Oppenheimer dropped their target price on Ferguson from $234.00 to $189.00 and set an “outperform” rating for the company in a research report on Wednesday, March 12th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ferguson presently has an average rating of “Moderate Buy” and a consensus price target of $198.62.

Ferguson Price Performance

FERG opened at $164.61 on Monday. The stock’s 50 day moving average price is $168.30 and its 200-day moving average price is $184.30. Ferguson plc has a 52-week low of $146.00 and a 52-week high of $225.63. The stock has a market capitalization of $32.91 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings data on Tuesday, March 11th. The company reported $1.52 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.06). The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.76 billion. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.74 earnings per share. On average, equities research analysts predict that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st will be given a dividend of $0.83 per share. The ex-dividend date is Friday, March 21st. This represents a $3.32 annualized dividend and a yield of 2.02%. Ferguson’s payout ratio is 40.84%.

About Ferguson

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.