Proficio Capital Partners LLC Invests $10.33 Million in Ferguson plc (NASDAQ:FERG)

Proficio Capital Partners LLC purchased a new position in Ferguson plc (NASDAQ:FERG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 59,535 shares of the company’s stock, valued at approximately $10,333,000.

A number of other institutional investors have also recently made changes to their positions in the company. SPC Financial Inc. boosted its stake in shares of Ferguson by 12.6% in the fourth quarter. SPC Financial Inc. now owns 3,135 shares of the company’s stock worth $544,000 after acquiring an additional 350 shares during the last quarter. M&T Bank Corp lifted its position in Ferguson by 3.5% during the fourth quarter. M&T Bank Corp now owns 27,040 shares of the company’s stock worth $4,693,000 after buying an additional 917 shares in the last quarter. Assetmark Inc. lifted its position in Ferguson by 41.1% during the fourth quarter. Assetmark Inc. now owns 333 shares of the company’s stock worth $58,000 after buying an additional 97 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in Ferguson by 97.1% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 6,184 shares of the company’s stock worth $1,074,000 after buying an additional 3,047 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Ferguson by 7.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 778,737 shares of the company’s stock worth $135,247,000 after buying an additional 52,776 shares in the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Price Performance

NASDAQ:FERG opened at $159.82 on Friday. 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 company has a market capitalization of $31.95 billion, a P/E ratio of 19.19, a P/E/G ratio of 1.69 and a beta of 1.28. Ferguson plc has a 52 week low of $152.52 and a 52 week high of $225.63. The stock’s fifty day moving average is $175.89 and its two-hundred day moving average is $190.10.

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

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, March 21st will be issued a $0.83 dividend. The ex-dividend date is Friday, March 21st. This represents a $3.32 annualized dividend and a dividend yield of 2.08%. Ferguson’s dividend payout ratio is presently 40.84%.

Analysts Set New Price Targets

A number of brokerages recently commented on FERG. UBS Group reiterated a “neutral” rating and set a $193.00 price objective (down previously from $230.00) on shares of Ferguson in a research report on Wednesday, January 8th. Oppenheimer reduced their price objective on Ferguson from $234.00 to $189.00 and set an “outperform” rating on the stock in a research report on Wednesday. Morgan Stanley began coverage on Ferguson in a research report on Monday, February 3rd. They set an “overweight” rating and a $204.00 price objective on the stock. Royal Bank of Canada reduced their price objective on Ferguson from $211.00 to $189.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Barclays reduced their price objective on Ferguson from $211.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.64.

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.