Adage Capital Partners GP L.L.C. Invests $34.84 Million in Ferguson plc (NASDAQ:FERG)

Adage Capital Partners GP L.L.C. bought a new stake in Ferguson plc (NASDAQ:FERG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 200,739 shares of the company’s stock, valued at approximately $34,842,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its stake in shares of Ferguson by 906.7% in the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock valued at $26,000 after purchasing an additional 136 shares during the last quarter. Berbice Capital Management LLC bought a new stake in Ferguson during the fourth quarter valued at $35,000. R Squared Ltd acquired a new stake in Ferguson during the 4th quarter worth about $45,000. Private Trust Co. NA raised its position in shares of Ferguson by 92.5% in the 4th quarter. Private Trust Co. NA now owns 258 shares of the company’s stock worth $45,000 after acquiring an additional 124 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in shares of Ferguson by 41.1% in the 4th quarter. Assetmark Inc. now owns 333 shares of the company’s stock valued at $58,000 after purchasing an additional 97 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Price Performance

FERG stock opened at $169.49 on Friday. The company has a market capitalization of $33.89 billion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17. Ferguson plc has a 52-week low of $146.00 and a 52-week high of $225.63. The business has a 50-day simple moving average of $165.11 and a two-hundred day simple moving average of $182.46. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68.

Ferguson (NASDAQ:FERG) last announced its quarterly earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share (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 company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.76 billion. During the same quarter last year, the company posted $1.74 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Research analysts expect that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Friday, March 21st. Ferguson’s payout ratio is 40.84%.

Wall Street Analyst Weigh In

FERG has been the subject of several recent analyst reports. Bank of America raised Ferguson from an “underperform” rating to a “buy” rating and raised their target price for the stock from $185.00 to $225.00 in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferguson in a research note on Tuesday, April 1st. They issued a “hold” rating and a $174.00 price objective for the company. Morgan Stanley started coverage on shares of Ferguson in a research note on Monday, February 3rd. They set an “overweight” rating and a $204.00 target price on the stock. UBS Group reaffirmed a “neutral” rating and issued a $193.00 price target (down from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Finally, Oppenheimer dropped their price objective on shares of Ferguson from $234.00 to $189.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Ferguson has a consensus rating of “Moderate Buy” and a consensus target price of $199.38.

Ferguson 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.