Norges Bank Invests $469.73 Million in Ferguson plc (NASDAQ:FERG)

Norges Bank purchased a new stake in Ferguson plc (NASDAQ:FERG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,706,153 shares of the company’s stock, valued at approximately $469,730,000. Norges Bank owned 1.35% of Ferguson as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Parnassus Investments LLC lifted its holdings in shares of Ferguson by 944.4% in the 4th quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company’s stock worth $613,944,000 after buying an additional 3,198,477 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Ferguson by 423.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,462,836 shares of the company’s stock worth $290,475,000 after acquiring an additional 1,183,143 shares in the last quarter. Vontobel Holding Ltd. increased its position in Ferguson by 339.9% during the 4th quarter. Vontobel Holding Ltd. now owns 1,234,776 shares of the company’s stock valued at $214,320,000 after purchasing an additional 954,092 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Ferguson by 7,632.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 677,684 shares of the company’s stock valued at $117,626,000 after purchasing an additional 668,920 shares in the last quarter. Finally, Cantillon Capital Management LLC lifted its position in shares of Ferguson by 24.5% in the 4th quarter. Cantillon Capital Management LLC now owns 2,111,673 shares of the company’s stock worth $366,523,000 after purchasing an additional 415,002 shares during the period. Institutional investors own 81.98% of the company’s stock.

Wall Street Analyst Weigh In

FERG has been the subject of a number of analyst reports. Wells Fargo & Company lowered their target price on Ferguson from $205.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Morgan Stanley initiated coverage on shares of Ferguson in a research report on Monday, February 3rd. They set an “overweight” rating and a $204.00 price target for the company. UBS Group reaffirmed a “neutral” rating and issued a $193.00 price objective (down previously from $230.00) on shares of Ferguson in a research report on Wednesday, January 8th. Robert W. Baird set a $190.00 price objective on shares of Ferguson and gave the stock an “outperform” rating in a research note on Wednesday, March 12th. Finally, Barclays lowered their target price on shares of Ferguson from $211.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $200.67.

Ferguson Trading Down 1.4 %

NASDAQ:FERG opened at $160.63 on Friday. The company has a market capitalization of $32.12 billion, a P/E ratio of 19.28, a PEG 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 plc has a 12 month low of $152.52 and a 12 month high of $225.63. The firm has a fifty day simple moving average of $173.86 and a 200-day simple moving average of $187.71.

Ferguson (NASDAQ:FERG) last issued its earnings results on Tuesday, March 11th. The company reported $1.52 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $6.76 billion. During the same quarter in the prior year, the company earned $1.74 EPS. Ferguson’s quarterly revenue was up 3.0% on a year-over-year basis. On average, equities research analysts anticipate that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.07%. Ferguson’s payout ratio is currently 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.