Prudential Financial Inc. Has $7.62 Million Position in Ferguson plc (NASDAQ:FERG)

Prudential Financial Inc. lifted its holdings in Ferguson plc (NASDAQ:FERG - Free Report) by 227.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,911 shares of the company's stock after buying an additional 30,505 shares during the quarter. Prudential Financial Inc.'s holdings in Ferguson were worth $7,622,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FERG. Parnassus Investments LLC raised its stake in shares of Ferguson by 944.4% during the fourth quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company's stock worth $613,944,000 after buying an additional 3,198,477 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Ferguson by 423.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,462,836 shares of the company's stock worth $290,475,000 after purchasing an additional 1,183,143 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of Ferguson by 339.9% in the 4th quarter. Vontobel Holding Ltd. now owns 1,234,776 shares of the company's stock worth $214,320,000 after purchasing an additional 954,092 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Ferguson by 7,632.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 677,684 shares of the company's stock worth $117,626,000 after purchasing an additional 668,920 shares during the period. Finally, Cantillon Capital Management LLC lifted its stake in Ferguson by 24.5% in the fourth quarter. Cantillon Capital Management LLC now owns 2,111,673 shares of the company's stock valued at $366,523,000 after buying an additional 415,002 shares during the period. Institutional investors and hedge funds own 81.98% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FERG shares. Barclays lowered their price target on Ferguson from $211.00 to $190.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. Wells Fargo & Company reduced their target price on Ferguson from $205.00 to $180.00 and set an "overweight" rating on the stock in a report on Wednesday, March 12th. Oppenheimer lowered their price objective on shares of Ferguson from $234.00 to $189.00 and set an "outperform" rating for the company in a research report on Wednesday, March 12th. Bank of America raised shares of Ferguson from an "underperform" rating to a "buy" rating and boosted their price objective for the company from $185.00 to $225.00 in a research report on Wednesday, January 8th. Finally, UBS Group reissued a "neutral" rating and issued a $193.00 price target (down previously from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $198.62.

Ferguson Stock Down 5.0 %

Shares of NASDAQ FERG traded down $8.17 during trading hours on Thursday, hitting $156.64. The company had a trading volume of 795,665 shares, compared to its average volume of 1,511,049. Ferguson plc has a 1-year low of $152.52 and a 1-year high of $225.63. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The firm's 50 day moving average is $172.66 and its 200-day moving average is $187.10. The stock has a market capitalization of $31.32 billion, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its quarterly earnings data 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 revenue was up 3.0% on a year-over-year basis. During the same period last year, the business earned $1.74 EPS. On average, analysts expect that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st will be issued a $0.83 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $3.32 annualized dividend and a dividend yield of 2.12%. Ferguson's dividend payout ratio is currently 40.84%.

Ferguson 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.