Manchester Global Management UK Ltd Invests $2.19 Million in Ferguson plc (NASDAQ:FERG)

Manchester Global Management UK Ltd acquired a new stake in Ferguson plc (NASDAQ:FERG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 12,605 shares of the company's stock, valued at approximately $2,188,000. Ferguson makes up about 0.3% of Manchester Global Management UK Ltd's holdings, making the stock its 26th biggest position.

Several other hedge funds have also recently bought and sold shares of FERG. Meiji Yasuda Asset Management Co Ltd. increased its position in Ferguson by 1.3% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,390 shares of the company's stock worth $1,109,000 after buying an additional 80 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Ferguson by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,834 shares of the company's stock valued at $4,137,000 after purchasing an additional 86 shares during the last quarter. Caprock Group LLC boosted its stake in Ferguson by 2.8% during the 4th quarter. Caprock Group LLC now owns 3,496 shares of the company's stock worth $610,000 after purchasing an additional 94 shares during the period. Assetmark Inc. increased its stake in Ferguson by 41.1% in the fourth quarter. Assetmark Inc. now owns 333 shares of the company's stock valued at $58,000 after purchasing an additional 97 shares during the period. Finally, Inspire Advisors LLC raised its holdings in shares of Ferguson by 3.7% in the fourth quarter. Inspire Advisors LLC now owns 3,001 shares of the company's stock valued at $521,000 after buying an additional 108 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on FERG shares. Bank of America upgraded Ferguson from an "underperform" rating to a "buy" rating and boosted their price target for the company from $185.00 to $225.00 in a research report on Wednesday, January 8th. UBS Group reiterated a "neutral" rating and issued a $193.00 price objective (down from $230.00) on shares of Ferguson in a research report on Wednesday, January 8th. Wells Fargo & Company lifted their target price on shares of Ferguson from $180.00 to $190.00 and gave the company an "overweight" rating in a report on Monday, April 14th. Citigroup reduced their price objective on shares of Ferguson from $189.00 to $168.00 and set a "neutral" rating for the company in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. decreased their price target on Ferguson from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 19th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $199.38.

Ferguson Stock Up 3.9 %

Shares of NASDAQ FERG opened at $169.49 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The firm's 50-day moving average is $165.11 and its two-hundred day moving average is $182.46. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $225.63. The company has a market capitalization of $33.89 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17.

Ferguson (NASDAQ:FERG - Get Free Report) last released 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). The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.76 billion. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The business's revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $1.74 earnings per share. Equities analysts anticipate that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, March 21st will be given a dividend of $0.83 per share. The ex-dividend date is Friday, March 21st. This represents a $3.32 dividend on an annualized basis and a yield of 1.96%. Ferguson's dividend payout ratio (DPR) is currently 40.84%.

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.