Nissay Asset Management Corp Japan ADV Sells 7,440 Shares of Ferguson plc (NASDAQ:FERG)

Nissay Asset Management Corp Japan ADV reduced its position in Ferguson plc (NASDAQ:FERG) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,362 shares of the company’s stock after selling 7,440 shares during the period. Nissay Asset Management Corp Japan ADV owned 0.06% of Ferguson worth $21,255,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC raised its holdings in Ferguson by 18.2% during the 4th quarter. FMR LLC now owns 10,007,892 shares of the company’s stock valued at $1,740,049,000 after buying an additional 1,539,889 shares during the period. Invesco Ltd. grew its position in Ferguson by 25.9% in the 4th quarter. Invesco Ltd. now owns 5,991,445 shares of the company’s stock valued at $1,039,935,000 after acquiring an additional 1,231,120 shares during the last quarter. Janus Henderson Group PLC increased its stake in Ferguson by 1.3% in the 4th quarter. Janus Henderson Group PLC now owns 4,935,419 shares of the company’s stock worth $856,746,000 after buying an additional 62,887 shares during the period. Parnassus Investments LLC raised its stake in shares of Ferguson by 944.4% during the fourth quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company’s stock valued at $613,944,000 after acquiring an additional 3,198,477 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Ferguson by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 3,215,657 shares of the company’s stock valued at $557,082,000 after acquiring an additional 18,036 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on FERG shares. Deutsche Bank Aktiengesellschaft started coverage on Ferguson in a report on Tuesday, April 1st. They issued a “hold” rating and a $174.00 target price for the company. Barclays dropped their target price on shares of Ferguson from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Royal Bank of Canada reissued an “outperform” rating and set a $189.00 price objective on shares of Ferguson in a report on Tuesday, March 18th. JPMorgan Chase & Co. reduced their price target on Ferguson from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, March 19th. Finally, Zelman & Associates lowered Ferguson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 17th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $199.38.

Ferguson Price Performance

Shares of Ferguson stock opened at $177.19 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The firm has a market cap of $35.43 billion, a PE ratio of 21.27, a P/E/G ratio of 1.69 and a beta of 1.14. The business has a 50-day moving average price of $164.12 and a 200 day moving average price of $179.83. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $225.63.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings data on Tuesday, March 11th. The company reported $1.52 earnings per share (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 during the quarter, compared to analyst estimates of $6.76 billion. During the same quarter in the previous year, the firm posted $1.74 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Sell-side analysts predict that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Friday, March 21st were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, March 21st. Ferguson’s payout ratio is 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.