Skye Global Management LP Has $36.10 Million Stock Position in Ferguson plc (NASDAQ:FERG)

Skye Global Management LP grew its stake in Ferguson plc (NASDAQ:FERG) by 116.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 208,000 shares of the company’s stock after buying an additional 112,000 shares during the quarter. Ferguson accounts for about 0.8% of Skye Global Management LP’s investment portfolio, making the stock its 22nd biggest holding. Skye Global Management LP owned about 0.10% of Ferguson worth $36,103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in FERG. Manchester Capital Management LLC boosted its stake in Ferguson by 906.7% in the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock worth $26,000 after purchasing an additional 136 shares during the period. LGT Financial Advisors LLC boosted its position in shares of Ferguson by 106.3% during the fourth quarter. LGT Financial Advisors LLC now owns 198 shares of the company’s stock worth $34,000 after buying an additional 102 shares during the period. Berbice Capital Management LLC acquired a new position in shares of Ferguson during the fourth quarter worth about $35,000. R Squared Ltd bought a new position in shares of Ferguson during the fourth quarter worth about $45,000. Finally, Private Trust Co. NA raised its position in Ferguson by 92.5% in the 4th quarter. Private Trust Co. NA now owns 258 shares of the company’s stock valued at $45,000 after buying an additional 124 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on FERG. Wolfe Research began coverage on Ferguson in a research note on Monday, March 17th. They issued a “peer perform” rating on the stock. Zelman & Associates lowered shares of Ferguson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 17th. Wells Fargo & Company increased their target price on shares of Ferguson from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, April 14th. Citigroup lowered their price target on shares of Ferguson from $189.00 to $168.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. Finally, JPMorgan Chase & Co. cut their price target on shares of Ferguson from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 19th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.38.

Ferguson Stock Up 3.9%

Ferguson stock opened at $181.89 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The company’s 50-day moving average is $164.59 and its 200-day moving average is $179.69. The firm has a market capitalization of $36.37 billion, a PE ratio of 21.84, a P/E/G ratio of 1.69 and a beta of 1.14. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $225.63.

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

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Friday, March 21st were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Friday, March 21st. Ferguson’s dividend payout ratio (DPR) is presently 40.84%.

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.