Regency Capital Management Inc. DE Purchases 9,338 Shares of Ferguson plc (NASDAQ:FERG)

Regency Capital Management Inc. DE lifted its position in Ferguson plc (NASDAQ:FERG) by 180.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 14,504 shares of the company’s stock after buying an additional 9,338 shares during the period. Ferguson comprises about 1.6% of Regency Capital Management Inc. DE’s investment portfolio, making the stock its 25th biggest position. Regency Capital Management Inc. DE’s holdings in Ferguson were worth $2,880,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in Ferguson by 375.4% in the second quarter. Bank of New York Mellon Corp now owns 6,289,864 shares of the company’s stock valued at $1,218,032,000 after acquiring an additional 4,966,821 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Ferguson by 589.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,619,637 shares of the company’s stock valued at $353,778,000 after acquiring an additional 1,384,570 shares during the last quarter. Capital World Investors bought a new position in Ferguson in the first quarter valued at $104,723,000. Robeco Schweiz AG bought a new position in Ferguson in the fourth quarter valued at $61,782,000. Finally, Waverton Investment Management Ltd increased its stake in Ferguson by 61.0% in the second quarter. Waverton Investment Management Ltd now owns 812,904 shares of the company’s stock valued at $157,293,000 after acquiring an additional 308,138 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of Ferguson stock traded up $3.25 on Friday, hitting $194.95. 2,321,546 shares of the company’s stock were exchanged, compared to its average volume of 1,254,993. The company has a 50-day simple moving average of $202.66 and a 200-day simple moving average of $206.57. The stock has a market capitalization of $39.13 billion, a PE ratio of 21.20, a PEG ratio of 3.28 and a beta of 1.20. Ferguson plc has a 1 year low of $147.62 and a 1 year high of $225.63. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.12. The business had revenue of $7.95 billion for the quarter, compared to analysts’ expectations of $8.01 billion. Ferguson had a net margin of 5.85% and a return on equity of 37.03%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.77 EPS. As a group, equities analysts anticipate that Ferguson plc will post 9.86 EPS for the current year.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Friday, September 27th. Ferguson’s dividend payout ratio (DPR) is 34.54%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FERG shares. Barclays increased their target price on Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Citigroup raised their price objective on Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Robert W. Baird raised their price objective on Ferguson from $222.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. UBS Group raised their price objective on Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Wells Fargo & Company reduced their price objective on Ferguson from $250.00 to $225.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $231.57.

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.