Manning & Napier Advisors LLC Grows Stake in Ferguson plc (NASDAQ:FERG)

Manning & Napier Advisors LLC increased its holdings in Ferguson plc (NASDAQ:FERG) by 69.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,951 shares of the company’s stock after purchasing an additional 10,265 shares during the period. Manning & Napier Advisors LLC’s holdings in Ferguson were worth $4,331,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Ferguson by 423.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,462,836 shares of the company’s stock valued at $290,475,000 after acquiring an additional 1,183,143 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Ferguson by 7,632.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 677,684 shares of the company’s stock valued at $117,626,000 after purchasing an additional 668,920 shares during the last quarter. Southpoint Capital Advisors LP grew its position in shares of Ferguson by 133.3% during the third quarter. Southpoint Capital Advisors LP now owns 700,000 shares of the company’s stock valued at $138,999,000 after purchasing an additional 400,000 shares in the last quarter. Barclays PLC increased its holdings in shares of Ferguson by 76.9% in the third quarter. Barclays PLC now owns 867,593 shares of the company’s stock worth $172,281,000 after purchasing an additional 377,283 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Ferguson by 910.3% in the fourth quarter. SG Americas Securities LLC now owns 366,015 shares of the company’s stock worth $63,529,000 after buying an additional 329,786 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on FERG shares. Wells Fargo & Company reduced their price objective on Ferguson from $220.00 to $215.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Zelman & Associates cut shares of Ferguson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 17th. Berenberg Bank increased their price objective on shares of Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. UBS Group restated a “neutral” rating and issued a $193.00 target price (down from $230.00) on shares of Ferguson in a report on Wednesday, January 8th. Finally, Robert W. Baird dropped their price target on Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $220.10.

Ferguson Stock Down 2.0 %

Shares of NASDAQ FERG opened at $178.90 on Thursday. Ferguson plc has a 1 year low of $167.27 and a 1 year high of $225.63. The firm has a 50-day simple moving average of $188.08 and a two-hundred day simple moving average of $197.57. The company has a market cap of $35.77 billion, a P/E ratio of 21.48, a PEG ratio of 1.75 and a beta of 1.24. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Friday, December 20th will be issued a dividend of $0.83 per share. The ex-dividend date is Friday, December 20th. This represents a $3.32 dividend on an annualized basis and a yield of 1.86%. This is a boost from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s payout ratio is presently 39.86%.

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.