Martingale Asset Management L P lessened its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 42.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,485 shares of the company's stock after selling 46,430 shares during the quarter. Martingale Asset Management L P's holdings in Ferguson were worth $11,019,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Applied Finance Capital Management LLC lifted its position in shares of Ferguson by 8.1% during the 4th quarter. Applied Finance Capital Management LLC now owns 4,208 shares of the company's stock worth $730,000 after purchasing an additional 316 shares during the last quarter. Capula Management Ltd raised its stake in Ferguson by 66.4% during the 4th quarter. Capula Management Ltd now owns 14,785 shares of the company's stock worth $2,566,000 after acquiring an additional 5,901 shares in the last quarter. FIL Ltd grew its holdings in shares of Ferguson by 33.3% during the fourth quarter. FIL Ltd now owns 664,888 shares of the company's stock worth $115,596,000 after purchasing an additional 166,261 shares during the last quarter. Rathbones Group PLC lifted its holdings in shares of Ferguson by 25.2% in the 4th quarter. Rathbones Group PLC now owns 903,076 shares of the company's stock valued at $156,779,000 after purchasing an additional 181,746 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Ferguson by 25.9% during the 4th quarter. Invesco Ltd. now owns 5,991,445 shares of the company's stock worth $1,039,935,000 after buying an additional 1,231,120 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
FERG has been the subject of several analyst reports. Wolfe Research initiated coverage on Ferguson in a research note on Monday, March 17th. They set a "peer perform" rating for the company. Morgan Stanley initiated coverage on Ferguson in a report on Monday, February 3rd. They issued an "overweight" rating and a $204.00 price target for the company. Royal Bank of Canada reissued an "outperform" rating and issued a $189.00 target price on shares of Ferguson in a report on Tuesday, March 18th. Zelman & Associates downgraded shares of Ferguson from a "strong-buy" rating to a "hold" rating in a report on Friday, January 17th. Finally, Oppenheimer decreased their price objective on shares of Ferguson from $234.00 to $189.00 and set an "outperform" rating on the stock in a report 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $199.38.
View Our Latest Stock Analysis on FERG
Ferguson Stock Performance
Shares of FERG traded down $1.14 during mid-day trading on Tuesday, reaching $165.39. 450,197 shares of the company's stock traded hands, compared to its average volume of 1,556,353. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $225.63. The stock has a market capitalization of $33.07 billion, a P/E ratio of 19.85, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17. The business's 50-day moving average price is $167.97 and its 200-day moving average price is $184.05. 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 issued its quarterly earnings data 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 for 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%. Ferguson's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.74 earnings per share. Equities analysts predict that Ferguson plc will post 9.4 earnings per share for the current 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 issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, March 21st. Ferguson's payout ratio is currently 40.84%.
Ferguson Company Profile
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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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