Ferguson plc (NASDAQ:FERG) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC cut its holdings in Ferguson plc (NASDAQ:FERG) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 188,997 shares of the company’s stock after selling 3,318 shares during the period. Clearbridge Investments LLC owned 0.09% of Ferguson worth $32,804,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Parnassus Investments LLC lifted its holdings in shares of Ferguson by 944.4% in the 4th quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company’s stock worth $613,944,000 after acquiring an additional 3,198,477 shares during the last quarter. Norges Bank acquired a new position in Ferguson during the 4th quarter worth $469,730,000. Schroder Investment Management Group acquired a new position in shares of Ferguson during the fourth quarter worth about $239,539,000. Mawer Investment Management Ltd. increased its position in shares of Ferguson by 2,384.2% in the 4th quarter. Mawer Investment Management Ltd. now owns 1,071,575 shares of the company’s stock valued at $185,993,000 after purchasing an additional 1,028,440 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its position in shares of Ferguson by 339.9% during 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. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Stock Performance

Shares of NASDAQ FERG opened at $160.61 on Wednesday. Ferguson plc has a 12 month low of $152.52 and a 12 month high of $225.63. The company has a 50-day simple moving average of $173.08 and a 200-day simple moving average of $187.26. The company has a market cap of $32.11 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings results 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 net margin of 5.68% and a return on equity of 34.63%. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.76 billion. During the same quarter last year, the firm earned $1.74 EPS. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities analysts anticipate that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Dividend Announcement

The company 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 $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, March 21st. Ferguson’s dividend payout ratio is currently 40.84%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Berenberg Bank increased their target price on Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. decreased their price objective on Ferguson from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, March 19th. Deutsche Bank Aktiengesellschaft initiated coverage on Ferguson in a report on Tuesday. They set a “hold” rating and a $174.00 price target on the stock. Robert W. Baird set a $190.00 price objective on shares of Ferguson and gave the stock an “outperform” rating in a research report on Wednesday, March 12th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $189.00 price target on shares of Ferguson in a research note on Tuesday, March 18th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $198.62.

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.