Ferguson plc (NASDAQ:FERG) Shares Acquired by Redwood Investments LLC

Redwood Investments LLC increased its holdings in shares of Ferguson plc (NASDAQ:FERG) by 22.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,866 shares of the company’s stock after purchasing an additional 3,945 shares during the quarter. Ferguson accounts for approximately 1.0% of Redwood Investments LLC’s portfolio, making the stock its 25th biggest position. Redwood Investments LLC’s holdings in Ferguson were worth $3,795,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Barclays PLC boosted its stake in 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 buying an additional 377,283 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Ferguson by 7,632.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 677,684 shares of the company’s stock worth $117,626,000 after acquiring an additional 668,920 shares during the last quarter. Park Avenue Securities LLC boosted its position in shares of Ferguson by 17.0% during the 4th quarter. Park Avenue Securities LLC now owns 5,524 shares of the company’s stock worth $959,000 after purchasing an additional 804 shares during the period. Founders Grove Wealth Partners LLC acquired a new stake in Ferguson in the 4th quarter valued at approximately $230,000. Finally, Steph & Co. purchased a new stake in Ferguson in the fourth quarter valued at approximately $219,000. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Stock Performance

Shares of Ferguson stock opened at $175.33 on Thursday. The business has a 50-day simple moving average of $164.27 and a 200-day simple moving average of $179.80. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. Ferguson plc has a one year low of $146.00 and a one year high of $225.63. The company has a market cap of $35.06 billion, a PE ratio of 21.05, a P/E/G ratio of 1.69 and a beta of 1.14.

Ferguson (NASDAQ:FERG) last posted 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 return on equity of 34.63% and a net margin of 5.68%. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same quarter last year, the firm earned $1.74 EPS. The company’s revenue was up 3.0% on a year-over-year basis. On average, equities research analysts forecast that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Friday, March 21st were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, March 21st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.89%. Ferguson’s payout ratio is currently 40.84%.

Analysts Set New Price Targets

FERG has been the subject of a number of research reports. 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. Robert W. Baird set a $190.00 target price on Ferguson and gave the company an “outperform” rating in a report on Wednesday, March 12th. Zelman & Associates lowered shares of Ferguson from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 17th. Citigroup reduced their price target 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. Finally, Barclays lowered their price objective on shares of Ferguson from $211.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.