Nomura Asset Management Co. Ltd. Sells 264 Shares of Ferguson plc (NASDAQ:FERG)

Nomura Asset Management Co. Ltd. reduced its stake in Ferguson plc (NASDAQ:FERG) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 74,093 shares of the company’s stock after selling 264 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Ferguson were worth $12,860,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cerity Partners LLC grew its holdings in Ferguson by 176.6% during the 3rd quarter. Cerity Partners LLC now owns 10,147 shares of the company’s stock valued at $2,015,000 after buying an additional 6,479 shares in the last quarter. Townsquare Capital LLC lifted its position in Ferguson by 6.6% during the third quarter. Townsquare Capital LLC now owns 3,409 shares of the company’s stock valued at $677,000 after purchasing an additional 210 shares during the last quarter. Bridgewater Associates LP bought a new stake in shares of Ferguson in the 3rd quarter worth about $204,000. Vinva Investment Management Ltd purchased a new stake in shares of Ferguson during the 3rd quarter valued at about $796,000. Finally, Verition Fund Management LLC lifted its holdings in shares of Ferguson by 555.8% in the 3rd quarter. Verition Fund Management LLC now owns 39,625 shares of the company’s stock valued at $7,868,000 after acquiring an additional 33,583 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FERG. Wolfe Research began coverage on Ferguson in a report on Monday, March 17th. They issued a “peer perform” rating for the company. Wells Fargo & Company reduced their target price on shares of Ferguson from $205.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Barclays lowered their target price on shares of Ferguson from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Citigroup cut their price target on shares of Ferguson from $189.00 to $168.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Finally, Bank of America raised shares of Ferguson from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $185.00 to $225.00 in a research note on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $200.67.

Ferguson Stock Down 1.4 %

Shares of NASDAQ:FERG opened at $160.63 on Monday. The business’s 50 day moving average is $173.86 and its 200 day moving average is $187.70. The stock has a market cap of $32.12 billion, a P/E ratio of 19.28, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. Ferguson plc has a 52-week low of $152.52 and a 52-week high of $225.63. 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 announced its quarterly earnings results on Tuesday, March 11th. The company reported $1.52 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.06). Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.76 billion. During the same quarter in the prior year, the business posted $1.74 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. Sell-side analysts predict that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, March 21st will be given a $0.83 dividend. The ex-dividend date is Friday, March 21st. This represents a $3.32 annualized dividend and a dividend yield of 2.07%. Ferguson’s payout ratio 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.