DnB Asset Management AS Trims Position in Ferguson plc (NASDAQ:FERG)

DnB Asset Management AS lowered its position in Ferguson plc (NASDAQ:FERG) by 35.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 73,270 shares of the company’s stock after selling 39,779 shares during the quarter. DnB Asset Management AS’s holdings in Ferguson were worth $12,717,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parnassus Investments LLC grew its stake 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 valued at $613,944,000 after buying an additional 3,198,477 shares during the period. Norges Bank purchased a new position in Ferguson in the fourth quarter worth approximately $469,730,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 worth $290,475,000 after acquiring an additional 1,183,143 shares during the last quarter. Vontobel Holding Ltd. raised its position in Ferguson by 339.9% in the fourth quarter. Vontobel Holding Ltd. now owns 1,234,776 shares of the company’s stock valued at $214,320,000 after purchasing an additional 954,092 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Ferguson by 7,632.6% in 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. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FERG. Morgan Stanley initiated coverage on Ferguson in a research report on Monday, February 3rd. They set an “overweight” rating and a $204.00 price objective for the company. Oppenheimer reduced their price target on shares of Ferguson from $234.00 to $189.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. JPMorgan Chase & Co. lowered their price objective on shares of Ferguson from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, March 19th. Citigroup cut their target price on Ferguson from $189.00 to $168.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 12th. Finally, Berenberg Bank raised their price target on Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Ferguson currently has an average rating of “Moderate Buy” and an average price target of $200.67.

Ferguson Stock Performance

Shares of FERG opened at $160.63 on Friday. Ferguson plc has a 1 year low of $152.52 and a 1 year high of $225.63. The stock has a market capitalization of $32.12 billion, a PE ratio of 19.28, a PEG ratio of 1.69 and a beta of 1.28. 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 50-day simple moving average of $173.86 and a 200-day simple moving average of $187.70.

Ferguson (NASDAQ:FERG) last issued its quarterly 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 firm 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 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. On average, analysts predict that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, March 21st will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 2.07%. 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.