Korea Investment CORP Has $30.80 Million Stock Holdings in Ferguson plc $FERG

Korea Investment CORP trimmed its stake in shares of Ferguson plc (NYSE:FERG) by 24.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 137,163 shares of the company’s stock after selling 44,929 shares during the period. Korea Investment CORP owned about 0.07% of Ferguson worth $30,804,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cornerstone Planning Group LLC lifted its stake in Ferguson by 178.3% during the third quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock valued at $31,000 after buying an additional 82 shares in the last quarter. Quent Capital LLC purchased a new position in shares of Ferguson in the third quarter worth approximately $43,000. First Horizon Advisors Inc. increased its position in shares of Ferguson by 81.4% in the second quarter. First Horizon Advisors Inc. now owns 303 shares of the company’s stock worth $66,000 after acquiring an additional 136 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Ferguson by 21.7% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 292 shares of the company’s stock valued at $66,000 after acquiring an additional 52 shares during the period. Finally, CX Institutional lifted its position in shares of Ferguson by 9,900.0% in the 3rd quarter. CX Institutional now owns 300 shares of the company’s stock valued at $67,000 after acquiring an additional 297 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on FERG. Sanford C. Bernstein reissued an “outperform” rating on shares of Ferguson in a research note on Thursday, January 8th. Royal Bank Of Canada upped their price target on Ferguson from $247.00 to $271.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft raised their price objective on Ferguson from $237.00 to $246.00 and gave the stock a “hold” rating in a research report on Thursday, December 11th. Wall Street Zen downgraded Ferguson from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Wells Fargo & Company raised their price target on shares of Ferguson from $280.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $262.62.

Ferguson Stock Up 0.1%

FERG opened at $230.47 on Tuesday. The firm has a market cap of $44.83 billion, a P/E ratio of 23.28 and a beta of 1.17. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88. The business has a 50 day moving average price of $248.73 and a 200 day moving average price of $240.70. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $271.64.

Ferguson (NYSE:FERG) last released its quarterly earnings results on Tuesday, February 24th. The company reported $1.99 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.25). Ferguson had a net margin of 6.93% and a return on equity of 40.37%. During the same quarter in the prior year, the business posted $1.52 earnings per share. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Friday, March 6th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, March 6th. Ferguson’s dividend payout ratio (DPR) is currently 35.96%.

Ferguson Company Profile

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.