Ferguson plc (NASDAQ:FERG) Holdings Lowered by Pinebridge Investments L.P.

Pinebridge Investments L.P. lowered its stake in Ferguson plc (NASDAQ:FERG) by 63.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,808 shares of the company’s stock after selling 38,922 shares during the quarter. Pinebridge Investments L.P.’s holdings in Ferguson were worth $3,959,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Barclays PLC grew its holdings in shares of Ferguson by 76.9% during the third quarter. Barclays PLC now owns 867,593 shares of the company’s stock valued at $172,281,000 after buying an additional 377,283 shares in the last quarter. Anchor Investment Management LLC purchased a new position in Ferguson during the 3rd quarter valued at about $112,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Ferguson in the 3rd quarter valued at about $66,000. Franklin Resources Inc. lifted its position in shares of Ferguson by 6.0% in the third quarter. Franklin Resources Inc. now owns 2,371,954 shares of the company’s stock worth $477,858,000 after purchasing an additional 133,769 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of Ferguson by 9.9% during the third quarter. Lord Abbett & CO. LLC now owns 518,867 shares of the company’s stock worth $103,031,000 after purchasing an additional 46,947 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Up 0.1 %

NASDAQ FERG opened at $169.73 on Friday. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $225.63. 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 market cap of $33.94 billion, a PE ratio of 20.38, a PEG ratio of 1.69 and a beta of 1.17. The firm has a 50-day simple moving average of $164.79 and a 200 day simple moving average of $182.29.

Ferguson (NASDAQ:FERG) last announced its quarterly earnings data on Tuesday, March 11th. The company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.06). The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.76 billion. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. Ferguson’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.74 EPS. On average, research analysts forecast that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Friday, March 21st. Ferguson’s dividend payout ratio is 40.84%.

Wall Street Analysts Forecast Growth

FERG has been the subject of a number of research reports. Morgan Stanley began coverage on shares of Ferguson in a research note on Monday, February 3rd. They set an “overweight” rating and a $204.00 target price for the company. Oppenheimer cut their price target on Ferguson from $234.00 to $189.00 and set an “outperform” rating for the company in a research note on Wednesday, March 12th. Wolfe Research started coverage on Ferguson in a report on Monday, March 17th. They issued a “peer perform” rating on the stock. Bank of America upgraded shares of Ferguson from an “underperform” rating to a “buy” rating and raised their price target for the company from $185.00 to $225.00 in a report on Wednesday, January 8th. Finally, Wells Fargo & Company lifted their price target on shares of Ferguson from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, April 14th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $199.38.

About Ferguson

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.