Massachusetts Financial Services Co. MA Boosts Stock Position in Ferguson plc (NASDAQ:FERG)

Massachusetts Financial Services Co. MA increased its position in shares of Ferguson plc (NASDAQ:FERG) by 1,137.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,826 shares of the company’s stock after acquiring an additional 82,568 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Ferguson were worth $15,591,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FERG. State Street Corp lifted its position in shares of Ferguson by 3.7% during the third quarter. State Street Corp now owns 4,541,079 shares of the company’s stock worth $905,230,000 after purchasing an additional 161,662 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in Ferguson by 249.8% during the 3rd quarter. Two Sigma Advisers LP now owns 166,084 shares of the company’s stock worth $32,979,000 after buying an additional 118,600 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Ferguson by 2.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 74,357 shares of the company’s stock valued at $14,765,000 after buying an additional 2,086 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Ferguson in the third quarter worth $50,570,000. Finally, Barclays PLC increased its position in shares of Ferguson by 76.9% during the third quarter. Barclays PLC now owns 867,593 shares of the company’s stock worth $172,281,000 after acquiring an additional 377,283 shares during the period. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Barclays decreased their target price on Ferguson from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Morgan Stanley began coverage on Ferguson in a research note on Monday, February 3rd. They issued an “overweight” rating and a $204.00 price objective for the company. Berenberg Bank upped their target price on shares of Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. 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 target for the company. Finally, Citigroup dropped their price objective on shares of Ferguson from $189.00 to $168.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 12th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $198.62.

Ferguson Stock Performance

NASDAQ FERG opened at $155.22 on Monday. The company has a fifty day moving average of $171.69 and a two-hundred day moving average of $186.33. The company has a market capitalization of $31.04 billion, a PE ratio of 18.63, a P/E/G ratio of 1.69 and a beta of 1.17. Ferguson plc has a 1 year low of $145.10 and a 1 year high of $225.63. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91.

Ferguson (NASDAQ:FERG) last announced 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). The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.76 billion. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $1.74 earnings per share. As a group, analysts expect that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, March 21st will be issued a $0.83 dividend. The ex-dividend date is Friday, March 21st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.14%. Ferguson’s payout ratio is 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.