Capital Research Global Investors Increases Stake in Ferguson plc (NASDAQ:FERG)

Capital Research Global Investors raised its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 58.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,550,447 shares of the company's stock after acquiring an additional 574,694 shares during the period. Capital Research Global Investors owned about 0.78% of Ferguson worth $269,111,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Barclays PLC grew its stake in shares of Ferguson by 76.9% during the 3rd quarter. Barclays PLC now owns 867,593 shares of the company's stock worth $172,281,000 after acquiring an additional 377,283 shares during the period. Anchor Investment Management LLC purchased a new stake in shares of Ferguson in the 3rd quarter valued at about $112,000. Wilmington Savings Fund Society FSB bought a new position in shares of Ferguson in the 3rd quarter worth $66,000. Franklin Resources Inc. raised its position in shares of Ferguson by 6.0% during the 3rd quarter. Franklin Resources Inc. now owns 2,371,954 shares of the company's stock valued at $477,858,000 after buying an additional 133,769 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Ferguson by 9.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 518,867 shares of the company's stock worth $103,031,000 after acquiring an additional 46,947 shares during the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Price Performance

Shares of Ferguson stock traded up $0.17 on Wednesday, hitting $163.44. 1,594,521 shares of the company traded hands, compared to its average volume of 1,575,731. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $225.63. The business has a 50-day simple moving average of $165.83 and a 200 day simple moving average of $182.77. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. The stock has a market capitalization of $32.68 billion, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17.

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

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, March 21st will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Friday, March 21st. Ferguson's dividend payout ratio (DPR) is presently 40.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FERG shares. Citigroup lowered their price target on Ferguson from $189.00 to $168.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 12th. Barclays lowered their price objective on shares of Ferguson from $211.00 to $190.00 and set an "overweight" rating for the company in a report on Wednesday, March 12th. UBS Group reaffirmed a "neutral" rating and set a $193.00 target price (down previously from $230.00) on shares of Ferguson in a report on Wednesday, January 8th. JPMorgan Chase & Co. cut their price target on shares of Ferguson from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Wednesday, March 19th. Finally, Zelman & Associates lowered shares of Ferguson from a "strong-buy" rating to a "hold" rating in a report on Friday, January 17th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $199.38.

About Ferguson

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.