Mackenzie Financial Corp Has $148.34 Million Holdings in Ferguson plc (NASDAQ:FERG)

Mackenzie Financial Corp lifted its position in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 32.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 766,027 shares of the company's stock after acquiring an additional 187,659 shares during the quarter. Mackenzie Financial Corp owned approximately 0.38% of Ferguson worth $148,341,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FERG. Richardson Financial Services Inc. bought a new stake in shares of Ferguson during the fourth quarter worth about $25,000. EdgeRock Capital LLC acquired a new position in shares of Ferguson in the second quarter worth approximately $32,000. MCF Advisors LLC bought a new stake in Ferguson in the first quarter valued at approximately $47,000. Brown Brothers Harriman & Co. increased its position in Ferguson by 538.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 402 shares of the company's stock valued at $78,000 after purchasing an additional 339 shares during the period. Finally, Versant Capital Management Inc raised its holdings in Ferguson by 2,462.5% during the 2nd quarter. Versant Capital Management Inc now owns 410 shares of the company's stock worth $79,000 after purchasing an additional 394 shares during the last quarter. Institutional investors own 81.98% of the company's stock.

Wall Street Analyst Weigh In

FERG has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of Ferguson from $250.00 to $225.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 18th. Royal Bank of Canada increased their target price on Ferguson from $211.00 to $219.00 and gave the stock an "outperform" rating in a report on Wednesday, September 18th. Citigroup lifted their price target on shares of Ferguson from $203.00 to $221.00 and gave the company a "neutral" rating in a research report on Wednesday, September 18th. Barclays upped their price objective on shares of Ferguson from $229.00 to $245.00 and gave the stock an "overweight" rating in a report on Wednesday, September 18th. Finally, UBS Group lifted their price objective on shares of Ferguson from $228.00 to $236.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $231.57.

Ferguson Price Performance

FERG opened at $201.96 on Friday. Ferguson plc has a fifty-two week low of $147.62 and a fifty-two week high of $225.63. The firm has a 50-day moving average of $203.94 and a 200 day moving average of $206.81. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68. The firm has a market cap of $40.78 billion, a P/E ratio of 22.07, a PEG ratio of 3.36 and a beta of 1.21.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, beating the consensus estimate of $2.86 by $0.12. Ferguson had a return on equity of 37.03% and a net margin of 5.85%. The business had revenue of $7.95 billion for the quarter, compared to the consensus estimate of $8.01 billion. During the same quarter in the prior year, the business earned $2.77 earnings per share. Ferguson's revenue for the quarter was up 1.4% on a year-over-year basis. On average, research analysts expect that Ferguson plc will post 9.86 EPS for the current year.

Ferguson announced that its Board of Directors has authorized a stock buyback plan on Tuesday, June 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a dividend of $0.79 per share. The ex-dividend date is Friday, September 27th. This represents a $3.16 dividend on an annualized basis and a yield of 1.56%. Ferguson's dividend payout ratio is presently 34.54%.

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.

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