Pictet Asset Management Holding SA Grows Stake in Ferguson plc (NASDAQ:FERG)

Pictet Asset Management Holding SA increased its position in Ferguson plc (NASDAQ:FERG - Free Report) by 7.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,804,595 shares of the company's stock after buying an additional 192,052 shares during the quarter. Pictet Asset Management Holding SA owned 1.40% of Ferguson worth $486,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in FERG. True Wealth Design LLC increased its stake in shares of Ferguson by 1,350.0% in the third quarter. True Wealth Design LLC now owns 145 shares of the company's stock valued at $29,000 after buying an additional 135 shares during the period. Manchester Capital Management LLC increased its position in Ferguson by 906.7% during the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company's stock valued at $26,000 after purchasing an additional 136 shares during the period. Berbice Capital Management LLC acquired a new position in shares of Ferguson in the 4th quarter worth approximately $35,000. Brooklyn Investment Group acquired a new position in shares of Ferguson in the 3rd quarter worth approximately $45,000. Finally, Private Trust Co. NA boosted its stake in shares of Ferguson by 92.5% in the 4th quarter. Private Trust Co. NA now owns 258 shares of the company's stock valued at $45,000 after purchasing an additional 124 shares during the last quarter. Institutional investors own 81.98% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FERG. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferguson in a report on Tuesday. They issued a "hold" rating and a $174.00 target price on the stock. Oppenheimer dropped their price objective on Ferguson from $234.00 to $189.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 12th. Wells Fargo & Company decreased their target price on Ferguson from $205.00 to $180.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. Zelman & Associates downgraded Ferguson from a "strong-buy" rating to a "hold" rating in a report on Friday, January 17th. Finally, Berenberg Bank increased their price target on Ferguson from $224.00 to $240.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. 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.com, Ferguson presently has an average rating of "Moderate Buy" and an average target price of $198.62.

Remove Ads

Ferguson Stock Up 0.3 %

FERG traded up $0.50 during trading on Tuesday, hitting $160.73. 626,135 shares of the company's stock were exchanged, compared to its average volume of 1,873,844. Ferguson plc has a fifty-two week low of $152.52 and a fifty-two week high of $225.63. The stock has a market cap of $32.14 billion, a P/E ratio of 19.28, a PEG ratio of 1.69 and a beta of 1.28. The business's 50 day moving average is $173.52 and its two-hundred day moving average is $187.49. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its 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). Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.76 billion. During the same quarter in the prior year, the company earned $1.74 EPS. The company's revenue was up 3.0% on a year-over-year basis. As a group, equities 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 dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Friday, March 21st. Ferguson's payout ratio is 40.84%.

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.