JPMorgan Chase & Co. raised its position in Ferguson plc (NASDAQ:FERG - Free Report) by 15.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,646,437 shares of the company's stock after purchasing an additional 225,987 shares during the period. JPMorgan Chase & Co. owned about 0.82% of Ferguson worth $285,772,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Cerity Partners LLC boosted its holdings in shares of Ferguson by 176.6% during the third quarter. Cerity Partners LLC now owns 10,147 shares of the company's stock worth $2,015,000 after purchasing an additional 6,479 shares during the last quarter. Townsquare Capital LLC boosted its stake in Ferguson by 6.6% in the 3rd quarter. Townsquare Capital LLC now owns 3,409 shares of the company's stock worth $677,000 after buying an additional 210 shares during the last quarter. Bridgewater Associates LP purchased a new stake in Ferguson in the 3rd quarter valued at about $204,000. Vinva Investment Management Ltd acquired a new position in shares of Ferguson during the 3rd quarter valued at about $796,000. Finally, Verition Fund Management LLC lifted its holdings in shares of Ferguson by 555.8% during the 3rd quarter. Verition Fund Management LLC now owns 39,625 shares of the company's stock worth $7,868,000 after acquiring an additional 33,583 shares during the period. 81.98% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on FERG shares. Royal Bank of Canada restated an "outperform" rating and issued a $189.00 target price on shares of Ferguson in a report on Tuesday, March 18th. Zelman & Associates downgraded Ferguson from a "strong-buy" rating to a "hold" rating in a report on Friday, January 17th. Citigroup cut their target price on Ferguson from $189.00 to $168.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 12th. Robert W. Baird set a $190.00 price target on Ferguson and gave the company an "outperform" rating in a research report on Wednesday, March 12th. Finally, Morgan Stanley started coverage on Ferguson in a research note on Monday, February 3rd. They set an "overweight" rating and a $204.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $198.62.
View Our Latest Stock Analysis on FERG
Ferguson Stock Down 2.0 %
Shares of NASDAQ:FERG traded down $3.19 during mid-day trading on Friday, hitting $155.22. 4,323,025 shares of the company traded hands, compared to its average volume of 1,530,107. The firm has a market cap of $31.04 billion, a P/E ratio of 18.63, a PEG ratio of 1.69 and a beta of 1.28. Ferguson plc has a 52-week low of $148.81 and a 52-week high of $225.63. The firm's 50 day simple moving average is $171.69 and its 200 day simple moving average is $186.61. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68.
Ferguson (NASDAQ:FERG - Get Free Report) last announced its earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share 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 firm had revenue of $6.87 billion during the quarter, compared to analysts' expectations of $6.76 billion. During the same quarter last year, the company posted $1.74 earnings per share. Ferguson's revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities analysts anticipate that Ferguson plc will post 9.4 EPS for the current year.
Ferguson Announces Dividend
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 paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, March 21st. Ferguson's dividend payout ratio (DPR) is 40.84%.
About Ferguson
(
Free Report)
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.
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