Legal & General Group Plc Cuts Position in Ferguson plc (NASDAQ:FERG)

Legal & General Group Plc lessened its position in Ferguson plc (NASDAQ:FERG) by 29.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,355,534 shares of the company’s stock after selling 573,487 shares during the quarter. Legal & General Group Plc’s holdings in Ferguson were worth $235,591,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Manchester Capital Management LLC increased its position in shares of Ferguson by 906.7% during 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 purchased a new stake in Ferguson in the fourth quarter worth approximately $35,000. Private Trust Co. NA grew its position in Ferguson by 92.5% during the fourth quarter. Private Trust Co. NA now owns 258 shares of the company’s stock valued at $45,000 after acquiring an additional 124 shares during the last quarter. R Squared Ltd purchased a new position in shares of Ferguson during the fourth quarter worth approximately $45,000. Finally, Assetmark Inc. lifted its holdings in shares of Ferguson by 41.1% in the 4th quarter. Assetmark Inc. now owns 333 shares of the company’s stock worth $58,000 after acquiring an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of FERG opened at $148.05 on Wednesday. Ferguson plc has a one year low of $146.15 and a one year high of $225.63. The company has a 50-day simple moving average of $169.74 and a two-hundred day simple moving average of $185.33. 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 firm has a market capitalization of $29.60 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17.

Ferguson (NASDAQ:FERG) last released its quarterly earnings results 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 the consensus estimate of $6.76 billion. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.74 earnings per share. On average, analysts anticipate that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, March 21st will be paid a $0.83 dividend. The ex-dividend date is Friday, March 21st. This represents a $3.32 annualized dividend and a dividend yield of 2.24%. Ferguson’s payout ratio is 40.84%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Morgan Stanley assumed coverage on shares of Ferguson in a report on Monday, February 3rd. They set an “overweight” rating and a $204.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $189.00 price objective on shares of Ferguson in a report on Tuesday, March 18th. Citigroup dropped their target price on Ferguson from $189.00 to $168.00 and set a “neutral” rating for the company in a report on Wednesday, March 12th. 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, JPMorgan Chase & Co. cut their target price on shares of Ferguson from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, March 19th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $198.62.

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.