5 Most Undervalued Industrial Stocks To Buy According To Hedge Funds

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1. Ferguson plc (NYSE:FERG)

Number of Hedge Fund Holders: 53

Ferguson plc (NYSE:FERG) is one of the most notable names in the industrials sector. Ferguson plc (NYSE:FERG) is also highly popular among the elite hedge funds tracked by Insider Monkey. 53 hedge funds out of the 943 funds in Insider Monkey database had stakes in Ferguson plc (NYSE:FERG) at the end of the fourth quarter of 2022, much higher than 42 hedge funds in the previous quarter. This shows that hedge funds piled into Ferguson plc (NYSE:FERG) during the last quarter of 2022.

In December, Ferguson plc (NYSE:FERG) announced continuation of its $2.5 billion share repurchase program. During the same month Ferguson plc (NYSE:FERG) posted fiscal first quarter results, according to which its adjusted EPS came in at $2.95, beating estimates by $0.16. Revenue in the quarter jumped about 16.6% on a YoY basis to reach $7.93 billion, beating estimates by $250 million. Ferguson plc (NYSE:FERG) also reaffirmed its FY2023 guidance. It expects its net sales to grow by low single digits.

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