APG Asset Management N.V. Trims Stock Holdings in Ferguson plc (NASDAQ:FERG)

APG Asset Management N.V. reduced its position in Ferguson plc (NASDAQ:FERG - Free Report) by 52.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,248,816 shares of the company's stock after selling 2,467,115 shares during the quarter. Ferguson comprises approximately 1.0% of APG Asset Management N.V.'s portfolio, making the stock its 16th biggest position. APG Asset Management N.V. owned approximately 1.12% of Ferguson worth $376,951,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FERG. Manchester Capital Management LLC boosted its stake in Ferguson by 906.7% during the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company's stock worth $26,000 after purchasing an additional 136 shares during the period. Berbice Capital Management LLC purchased a new stake in shares of Ferguson in the fourth quarter valued at about $35,000. Private Trust Co. NA boosted its stake in shares of Ferguson by 92.5% during the fourth quarter. Private Trust Co. NA now owns 258 shares of the company's stock worth $45,000 after buying an additional 124 shares during the period. R Squared Ltd purchased a new position in shares of Ferguson during the fourth quarter worth about $45,000. Finally, Assetmark Inc. increased its position in Ferguson by 41.1% in the 4th quarter. Assetmark Inc. now owns 333 shares of the company's stock valued at $58,000 after acquiring an additional 97 shares during the period. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Price Performance

NASDAQ FERG traded up $2.86 during mid-day trading on Friday, hitting $164.61. The stock had a trading volume of 2,156,460 shares, compared to its average volume of 1,557,492. The company has a 50 day simple moving average of $168.30 and a 200 day simple moving average of $184.42. The company has a market cap of $32.91 billion, a price-to-earnings ratio of 19.76, a P/E/G ratio of 1.69 and a beta of 1.17. Ferguson plc has a 52-week low of $146.00 and a 52-week high of $225.63. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83.

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

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, March 21st. Ferguson's dividend payout ratio (DPR) is presently 40.84%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Bank of America upgraded Ferguson from an "underperform" rating to a "buy" rating and lifted their target price for the company from $185.00 to $225.00 in a research note on Wednesday, January 8th. Morgan Stanley started coverage on shares of Ferguson in a research report on Monday, February 3rd. They issued an "overweight" rating and a $204.00 price objective on the stock. Oppenheimer dropped their price objective on shares of Ferguson from $234.00 to $189.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 12th. UBS Group restated a "neutral" rating and issued a $193.00 target price (down previously from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Finally, Robert W. Baird set a $190.00 price target on shares of Ferguson and gave the stock an "outperform" rating in a research note on Wednesday, March 12th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $198.62.

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.