Voya Investment Management LLC Lowers Stock Position in Ferguson plc (NASDAQ:FERG)

Voya Investment Management LLC reduced its stake in Ferguson plc (NASDAQ:FERG) by 26.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,044 shares of the company’s stock after selling 23,946 shares during the quarter. Voya Investment Management LLC’s holdings in Ferguson were worth $11,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Manchester Capital Management LLC grew its position in Ferguson by 906.7% during the fourth quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock valued at $26,000 after acquiring an additional 136 shares during the last quarter. Berbice Capital Management LLC bought a new position in Ferguson during the fourth quarter valued at approximately $35,000. R Squared Ltd bought a new position in Ferguson during the fourth quarter valued at approximately $45,000. Private Trust Co. NA grew its position in Ferguson by 92.5% during the fourth quarter. Private Trust Co. NA now owns 258 shares of the company’s stock valued at $45,000 after acquiring an additional 124 shares during the last quarter. Finally, Assetmark Inc. grew its position in Ferguson by 41.1% during the fourth quarter. Assetmark Inc. now owns 333 shares of the company’s stock valued at $58,000 after acquiring an additional 97 shares during the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Stock Performance

NASDAQ:FERG opened at $170.72 on Tuesday. The stock has a market cap of $34.13 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17. The firm’s fifty day simple moving average is $164.57 and its 200 day simple moving average is $181.88. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $225.63. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83.

Ferguson (NASDAQ:FERG) last announced its quarterly earnings data 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 net margin of 5.68% and a return on equity of 34.63%. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.76 billion. During the same period in the prior year, the business posted $1.74 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, research analysts predict that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, March 21st will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Friday, March 21st. Ferguson’s payout ratio is 40.84%.

Analysts Set New Price Targets

A number of research analysts have commented on FERG shares. Wells Fargo & Company increased their price target on shares of Ferguson from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, April 14th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferguson in a research report on Tuesday, April 1st. They set a “hold” rating and a $174.00 price target on the stock. UBS Group restated a “neutral” rating and issued a $193.00 target price (down previously from $230.00) on shares of Ferguson in a report on Wednesday, January 8th. Morgan Stanley assumed 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. Finally, Barclays cut 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. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $199.38.

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.