Bridgewater Associates LP Grows Position in Ferguson plc (NASDAQ:FERG)

Bridgewater Associates LP grew its stake in shares of Ferguson plc (NASDAQ:FERG) by 281.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,956 shares of the company’s stock after purchasing an additional 2,919 shares during the period. Bridgewater Associates LP’s holdings in Ferguson were worth $687,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in shares of Ferguson in the 4th quarter worth approximately $27,701,000. Canada Post Corp Registered Pension Plan purchased a new stake in Ferguson during the fourth quarter worth $8,146,000. Baupost Group LLC MA acquired a new stake in Ferguson in the fourth quarter valued at $196,481,000. Comgest Global Investors S.A.S. raised its stake in shares of Ferguson by 15.9% during the 4th quarter. Comgest Global Investors S.A.S. now owns 54,429 shares of the company’s stock worth $9,447,000 after buying an additional 7,471 shares during the last quarter. Finally, Barclays PLC increased its holdings in Ferguson by 208.8% during the 4th quarter. Barclays PLC now owns 2,678,880 shares of the company’s stock valued at $464,973,000 after acquiring an additional 1,811,287 shares in the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Stock Up 1.2 %

Shares of Ferguson stock opened at $164.28 on Friday. The company has a fifty day moving average price of $166.66 and a 200 day moving average price of $183.21. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $225.63. The stock has a market cap of $32.85 billion, a price-to-earnings ratio of 19.72, 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 analysts’ consensus estimates of $1.58 by ($0.06). The company 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%. During the same quarter in the prior year, the company earned $1.74 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. Equities research analysts forecast that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, March 21st. Ferguson’s payout ratio is 40.84%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FERG shares. JPMorgan Chase & Co. reduced their price target 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. Morgan Stanley initiated coverage on shares of Ferguson in a report on Monday, February 3rd. They issued an “overweight” rating and a $204.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $189.00 price target on shares of Ferguson in a report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferguson in a research report on Tuesday, April 1st. They set a “hold” rating and a $174.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on Ferguson from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, April 14th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and a consensus 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.