Polen Capital Management LLC Makes New Investment in Ferguson plc (NASDAQ:FERG)

Polen Capital Management LLC purchased a new stake in shares of Ferguson plc (NASDAQ:FERG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,238 shares of the company’s stock, valued at approximately $215,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of Ferguson by 32.5% during the third quarter. Principal Financial Group Inc. now owns 32,025 shares of the company’s stock worth $6,359,000 after purchasing an additional 7,862 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Ferguson by 7.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 778,737 shares of the company’s stock valued at $135,247,000 after purchasing an additional 52,776 shares during the last quarter. New York Life Investment Management LLC bought a new stake in shares of Ferguson in the 4th quarter worth approximately $587,000. Neo Ivy Capital Management acquired a new position in Ferguson during the 3rd quarter valued at approximately $970,000. Finally, Clean Yield Group grew its stake in Ferguson by 27.1% during the 4th quarter. Clean Yield Group now owns 25,959 shares of the company’s stock worth $4,506,000 after buying an additional 5,534 shares during the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Price Performance

Shares of Ferguson stock opened at $162.58 on Tuesday. Ferguson plc has a 52 week low of $152.52 and a 52 week high of $225.63. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The company’s 50-day moving average price is $175.67 and its two-hundred day moving average price is $189.70. The stock has a market cap of $32.51 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28.

Ferguson (NASDAQ:FERG) last released its 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 net margin of 5.68% and a return on equity of 34.63%. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same period in the prior year, the company earned $1.74 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, March 21st will be given a $0.83 dividend. The ex-dividend date is Friday, March 21st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.04%. Ferguson’s dividend payout ratio (DPR) is 40.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FERG shares. Bank of America raised shares of Ferguson from an “underperform” rating to a “buy” rating and boosted their price target for the company from $185.00 to $225.00 in a report on Wednesday, January 8th. Royal Bank of Canada cut their price target on Ferguson from $211.00 to $189.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Citigroup decreased their price objective on Ferguson from $189.00 to $168.00 and set a “neutral” rating for the company in a report on Wednesday, March 12th. Wells Fargo & Company cut their target price on Ferguson from $205.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Finally, Morgan Stanley assumed coverage on Ferguson in a report on Monday, February 3rd. They set an “overweight” rating and a $204.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $201.64.

Ferguson 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.