Swiss National Bank Cuts Stock Holdings in Ferguson plc (NASDAQ:FERG)

Swiss National Bank trimmed its holdings in shares of Ferguson plc (NASDAQ:FERG) by 5.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 567,147 shares of the company’s stock after selling 32,200 shares during the period. Swiss National Bank’s holdings in Ferguson were worth $98,440,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FERG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Ferguson by 423.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,462,836 shares of the company’s stock valued at $290,475,000 after buying an additional 1,183,143 shares during the period. Vontobel Holding Ltd. raised its stake in shares of Ferguson by 339.9% during the fourth quarter. Vontobel Holding Ltd. now owns 1,234,776 shares of the company’s stock valued at $214,320,000 after acquiring an additional 954,092 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Ferguson by 7,632.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 677,684 shares of the company’s stock valued at $117,626,000 after acquiring an additional 668,920 shares during the last quarter. Cantillon Capital Management LLC raised its stake in shares of Ferguson by 24.5% during the fourth quarter. Cantillon Capital Management LLC now owns 2,111,673 shares of the company’s stock valued at $366,523,000 after acquiring an additional 415,002 shares during the last quarter. Finally, Southpoint Capital Advisors LP raised its stake in shares of Ferguson by 133.3% during the third quarter. Southpoint Capital Advisors LP now owns 700,000 shares of the company’s stock valued at $138,999,000 after acquiring an additional 400,000 shares during the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FERG shares. Morgan Stanley started coverage on shares of Ferguson in a research note on Monday, February 3rd. They set an “overweight” rating and a $204.00 price objective for the company. Robert W. Baird set a $190.00 price objective on shares of Ferguson and gave the company an “outperform” rating in a research note on Wednesday. Royal Bank of Canada lowered their price objective on shares of Ferguson from $211.00 to $189.00 and set an “outperform” rating for the company in a research note on Wednesday. UBS Group reaffirmed a “neutral” rating and set a $193.00 price objective (down from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Finally, Oppenheimer lowered their price objective on shares of Ferguson from $234.00 to $189.00 and set an “outperform” rating for the company in a research note on Wednesday. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Ferguson has an average rating of “Moderate Buy” and an average price target of $201.64.

Ferguson Price Performance

FERG stock opened at $159.82 on Friday. The company has a market cap of $31.95 billion, a P/E ratio of 19.19, a PEG ratio of 1.69 and a beta of 1.28. 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 plc has a 1 year low of $152.52 and a 1 year high of $225.63. The firm has a 50-day moving average of $175.89 and a 200 day moving average of $190.23.

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

Ferguson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Friday, March 21st. Ferguson’s dividend payout ratio (DPR) is presently 39.86%.

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.