FIL Ltd Acquires 166,261 Shares of Ferguson plc (NASDAQ:FERG)

FIL Ltd grew its holdings in Ferguson plc (NASDAQ:FERG - Free Report) by 33.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 664,888 shares of the company's stock after purchasing an additional 166,261 shares during the period. FIL Ltd owned approximately 0.33% of Ferguson worth $115,596,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in Ferguson by 32.5% during the third quarter. Principal Financial Group Inc. now owns 32,025 shares of the company's stock worth $6,359,000 after acquiring an additional 7,862 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Ferguson by 7.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 778,737 shares of the company's stock worth $135,247,000 after purchasing an additional 52,776 shares in the last quarter. New York Life Investment Management LLC bought a new position in Ferguson in the 4th quarter valued at approximately $587,000. Neo Ivy Capital Management acquired a new stake in Ferguson in the third quarter valued at approximately $970,000. Finally, Clean Yield Group boosted its position in Ferguson by 27.1% in the fourth quarter. Clean Yield Group now owns 25,959 shares of the company's stock valued at $4,506,000 after buying an additional 5,534 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company's stock.

Ferguson Stock Up 1.6 %

Shares of Ferguson stock traded up $2.69 during trading on Monday, reaching $167.42. 351,316 shares of the company traded hands, compared to its average volume of 1,967,559. The firm has a market capitalization of $33.47 billion, a PE ratio of 20.10, a P/E/G ratio of 1.69 and a beta of 1.17. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $225.63. The company has a 50 day moving average price of $168.30 and a 200-day moving average price of $184.30. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91.

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

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, March 21st will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Friday, March 21st. Ferguson's payout ratio is currently 40.84%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company boosted their price objective on Ferguson from $180.00 to $190.00 and gave the stock an "overweight" rating in a research report on Monday. UBS Group reaffirmed a "neutral" rating and issued a $193.00 price objective (down previously from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferguson in a research report on Tuesday, April 1st. They set a "hold" rating and a $174.00 target price on the stock. Wolfe Research initiated coverage on shares of Ferguson in a research report on Monday, March 17th. They issued a "peer perform" rating for the company. Finally, Zelman & Associates downgraded shares of Ferguson from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 17th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Ferguson currently has an average rating of "Moderate Buy" and a consensus target price of $199.38.

Ferguson Company 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.