Ferguson plc (NASDAQ:FERG) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 46.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 388,600 shares of the company's stock after selling 332,100 shares during the quarter. Renaissance Technologies LLC owned about 0.19% of Ferguson worth $67,449,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its stake in Ferguson by 32.5% during the third quarter. Principal Financial Group Inc. now owns 32,025 shares of the company's stock worth $6,359,000 after purchasing an additional 7,862 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Ferguson by 7.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 778,737 shares of the company's stock valued at $135,247,000 after buying an additional 52,776 shares during the last quarter. New York Life Investment Management LLC purchased a new stake in Ferguson in the fourth quarter valued at $587,000. Neo Ivy Capital Management purchased a new position in shares of Ferguson during the third quarter worth about $970,000. Finally, Clean Yield Group lifted its holdings in shares of Ferguson by 27.1% in the 4th quarter. Clean Yield Group now owns 25,959 shares of the company's stock valued at $4,506,000 after purchasing an additional 5,534 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company's stock.

Ferguson Price Performance

FERG stock traded down $1.14 during midday trading on Tuesday, hitting $165.39. 450,197 shares of the stock were exchanged, compared to its average volume of 1,556,344. The stock'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. The stock has a market cap of $33.07 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 1.69 and a beta of 1.17. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $225.63.

Ferguson (NASDAQ:FERG - Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The company reported $1.52 EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $6.76 billion. During the same quarter in the prior year, the firm earned $1.74 earnings per share. Ferguson's quarterly revenue was up 3.0% on a year-over-year basis. Research analysts predict that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, March 21st will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.01%. Ferguson's dividend payout ratio (DPR) is 40.84%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FERG. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $189.00 target price on shares of Ferguson in a report on Tuesday, March 18th. 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. Zelman & Associates downgraded Ferguson from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 17th. Wolfe Research started coverage on Ferguson in a report on Monday, March 17th. They issued a "peer perform" rating on the stock. Finally, Morgan Stanley started coverage on shares of Ferguson in a research report on Monday, February 3rd. They issued an "overweight" rating and a $204.00 price objective on the stock. Five investment 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, Ferguson currently has an average rating of "Moderate Buy" and an average price target of $199.38.

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.