Empowered Funds LLC announces acquisition of shares in Ferguson plc
In a filing with the SEC on Wednesday, Empowered Funds LLC said it had purchased a new position in Ferguson plc (NASDAQ:FERG) during the first quarter of this year. The company purchased 4,033 shares of the company’s stock at an estimated value of $539,000.
Ferguson is a leading distributor of quality plumbing and heating products in Canada and the United States. Customers in residential, commercial, civil/infrastructure and industrial end markets rely on the company’s expertise, solutions and products including infrastructure, plumbing, appliances, fire protection equipment and heating, ventilation and air conditioning – all available under the respected brand name Ferguson.
The stock opened Wednesday at $150.24 with a fifty-day moving average price of $142.78, while its 200-day long-term moving average price was $137.82. With a market cap of $33.81 billion, Ferguson’s P/E ratio is 16.71 while its beta is 1.20. The company has a current ratio of 1.78, a short-term ratio of 0.94 and a leverage ratio of 0.83.
At the start of the year, Ferguson’s stock price ranged from its 12-month low of $99.16 to an incredible high of an impressive $152.19 in such a short period of time.
The acquisition by Empowered Funds LLC reflects their optimistic view of Ferguson and bodes well for investors with solid financial standing to make bold investment decisions in favor of this innovative plumbing and heating products supplier that effectively addresses the diverse business needs of Canada and the United States Achieved – strengthening plans to further expand its operations globally into emerging markets and demonstrates that assets are ripe to capitalize on by nurturing strong client relationships.
As the market fluctuates daily and concerns mount over global trade protectionism and economic uncertainties, it is always advisable to seek good advice from reputable financial advisors. Sound research, well-founded methods and experienced investment strategies can be used to achieve optimal investment returns with minimal downside risks.
Ferguson plc
DONE
Strong buy
Updated on: 06/22/2023
price target
Current
Agreed
Low
median
High
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Analyst Ratings
| Analyst / Company | Evaluation |
|---|---|
|
Keith Hughes |
Sell |
| Trust Financial | Obtain |
| Barclays | Obtain |
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Investors are raving about Ferguson plc as confidence in the company’s performance and market opportunity grows
Investors have been buying and selling Ferguson plc shares of late, with several institutional investors and hedge funds adding to their holdings in the company. Rockefeller Capital Management LP increased its stake by 12.4% in the fourth quarter, while other companies including Verdence Capital Advisors LLC, Baird Financial Group Inc., Connable Office Inc. and Vise Technologies Inc. also increased their stakes in the company. The company sells plumbing and heating products in the United States and Canada for the residential, commercial, civil/infrastructure and industrial markets.
Despite a 2% year-over-year decline in quarterly revenue, Ferguson managed to beat analyst estimates for earnings per share for the second quarter of 2021, posting earnings of $2.20 versus $2.16 analysts had expected report. The company’s net margin was 6.31% while the return on equity reached 42.96%. Equity analysts are forecasting that Ferguson will report earnings per share of 9.58 for this fiscal year.
Ferguson announced on June 4 a quarterly dividend of $0.75 per share to be paid to stockholders of record at the close of business on June 16 of this year; That equates to a two percent annualized return with an ex-dividend date set for June 15. Recently, UBS Group began coverage on Ferguson stock, assigning a “buy” rating to the stock alongside ratings from JPMorgan Chase & Co., Truist Financials, Jefferies Financial Group and Royal Bank of Canada.
All of these factors point to a lot of activity surrounding Ferguson, as investors buy shares in the company to take advantage of growth opportunities arising from current market trends, particularly those impacted by the impact related to COVID-19 , which gave a boost to most plumbing and heating products in North American homes.REDACTED
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