Schroder Investment Management Group Purchases Shares of 1,380,072 Ferguson plc (NASDAQ:FERG)

Schroder Investment Management Group acquired a new position in Ferguson plc (NASDAQ:FERG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,380,072 shares of the company’s stock, valued at approximately $239,539,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC raised its position in Ferguson by 1,350.0% during the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after buying an additional 135 shares during the last quarter. Manchester Capital Management LLC raised its holdings in shares of Ferguson by 906.7% during the fourth quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock worth $26,000 after purchasing an additional 136 shares during the last quarter. Berbice Capital Management LLC acquired a new position in Ferguson during the fourth quarter valued at $35,000. Brooklyn Investment Group purchased a new stake in Ferguson in the third quarter valued at $45,000. Finally, Private Trust Co. NA grew its position in Ferguson by 92.5% during the 4th quarter. Private Trust Co. NA now owns 258 shares of the company’s stock worth $45,000 after purchasing an additional 124 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on FERG. Zelman & Associates cut Ferguson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 17th. Robert W. Baird set a $190.00 price objective on Ferguson and gave the stock an “outperform” rating in a research report on Wednesday, March 12th. Wells Fargo & Company cut their target price on shares of Ferguson from $205.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Oppenheimer lowered their price target on shares of Ferguson from $234.00 to $189.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $189.00 price objective on shares of Ferguson in a report on Tuesday, March 18th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and an average price target of $200.67.

Ferguson Price Performance

NASDAQ:FERG opened at $160.63 on Friday. The stock has a 50 day moving average of $173.86 and a two-hundred day moving average of $187.70. Ferguson plc has a 12 month low of $152.52 and a 12 month high of $225.63. The firm has a market cap of $32.12 billion, a P/E ratio of 19.28, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. 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 (NASDAQ:FERG) last issued 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). The firm had revenue of $6.87 billion for 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%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.74 earnings per share. On average, analysts expect that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders 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 2.07%. The ex-dividend date of this dividend is Friday, March 21st. Ferguson’s dividend payout ratio (DPR) is 40.84%.

Ferguson Company 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.