Great Lakes Advisors LLC Lowers Position in Ferguson plc (NASDAQ:FERG)

Great Lakes Advisors LLC lessened its stake in Ferguson plc (NASDAQ:FERG) by 63.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,511 shares of the company’s stock after selling 16,309 shares during the period. Great Lakes Advisors LLC’s holdings in Ferguson were worth $1,651,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of FERG. Manchester Capital Management LLC raised its stake in shares of Ferguson by 906.7% during the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock worth $26,000 after buying an additional 136 shares during the period. True Wealth Design LLC raised its stake in shares of Ferguson by 1,350.0% during the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after buying an additional 135 shares during the period. Berbice Capital Management LLC acquired a new position in shares of Ferguson during the 4th quarter worth approximately $35,000. Peterson Financial Group Inc. acquired a new position in shares of Ferguson during the 3rd quarter worth approximately $39,000. Finally, Brooklyn Investment Group acquired a new position in shares of Ferguson during the 3rd quarter worth approximately $45,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FERG. Wells Fargo & Company reduced 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. Oppenheimer reduced their target price on Ferguson from $234.00 to $189.00 and set an “outperform” rating for the company in a research note on Wednesday. Barclays reduced their price objective on Ferguson from $211.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday. Zelman & Associates downgraded Ferguson from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 17th. Finally, UBS Group reissued a “neutral” rating and issued a $193.00 price objective (down from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $201.64.

Ferguson Stock Up 3.1 %

Shares of FERG opened at $159.82 on Friday. Ferguson plc has a 52-week low of $152.52 and a 52-week high of $225.63. The company has a market capitalization of $31.95 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. The stock has a fifty day simple moving average of $175.89 and a two-hundred day simple moving average of $190.10. 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) last issued its earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share (EPS) 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 company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.76 billion. During the same period last year, the business earned $1.74 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts forecast that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Friday, March 21st. Ferguson’s dividend payout ratio (DPR) is presently 40.84%.

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.