39,600 Shares in Ferguson plc (NASDAQ:FERG) Acquired by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new position in Ferguson plc (NASDAQ:FERG) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 39,600 shares of the company’s stock, valued at approximately $6,873,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Fisher Funds Management LTD acquired a new stake in Ferguson in the fourth quarter worth approximately $16,761,000. Allianz Asset Management GmbH lifted its position in Ferguson by 0.5% in the fourth quarter. Allianz Asset Management GmbH now owns 415,038 shares of the company’s stock worth $72,038,000 after purchasing an additional 2,005 shares during the period. ING Groep NV lifted its position in Ferguson by 15.7% in the fourth quarter. ING Groep NV now owns 267,149 shares of the company’s stock worth $46,369,000 after purchasing an additional 36,249 shares during the period. Boston Financial Mangement LLC lifted its position in Ferguson by 0.8% in the fourth quarter. Boston Financial Mangement LLC now owns 225,420 shares of the company’s stock worth $39,126,000 after purchasing an additional 1,718 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in Ferguson by 5.3% in the fourth quarter. Handelsbanken Fonder AB now owns 108,384 shares of the company’s stock worth $18,812,000 after purchasing an additional 5,436 shares during the period. 81.98% of the stock is owned by institutional investors.

Ferguson Price Performance

Shares of NASDAQ:FERG opened at $171.84 on Tuesday. The company’s fifty day moving average is $178.36 and its two-hundred day moving average is $193.87. 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 plc has a 12-month low of $167.27 and a 12-month high of $225.63. The company has a market cap of $34.36 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 1.69 and a beta of 1.24.

Ferguson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Friday, December 20th were paid a dividend of $0.83 per share. This is an increase from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Friday, December 20th. Ferguson’s payout ratio is 39.86%.

Analyst Upgrades and Downgrades

FERG has been the subject of a number of research analyst reports. Bank of America upgraded Ferguson from an “underperform” rating to a “buy” rating and upped their target price for the stock from $185.00 to $225.00 in a research report on Wednesday, January 8th. Barclays cut their price objective on Ferguson from $234.00 to $211.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Wells Fargo & Company cut their price objective on Ferguson from $215.00 to $205.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $219.00 price objective on shares of Ferguson in a research report on Wednesday, December 11th. Finally, Morgan Stanley initiated coverage on Ferguson in a research report on Monday, February 3rd. They set an “overweight” rating and a $204.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $217.73.

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.