Swiss Life Asset Management Ltd Increases Holdings in Ferguson plc $FERG

Swiss Life Asset Management Ltd increased its holdings in shares of Ferguson plc (NYSE:FERG) by 68.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 82,169 shares of the company’s stock after acquiring an additional 33,245 shares during the period. Swiss Life Asset Management Ltd’s holdings in Ferguson were worth $18,454,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FERG. Norges Bank purchased a new stake in Ferguson during the 2nd quarter valued at approximately $395,401,000. Franklin Resources Inc. boosted its position in shares of Ferguson by 39.3% during the second quarter. Franklin Resources Inc. now owns 4,255,661 shares of the company’s stock worth $926,830,000 after acquiring an additional 1,201,493 shares during the last quarter. Durable Capital Partners LP bought a new stake in Ferguson in the 3rd quarter valued at $244,561,000. Qube Research & Technologies Ltd lifted its stake in Ferguson by 588.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,087,523 shares of the company’s stock worth $244,236,000 after purchasing an additional 929,475 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Ferguson by 22.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,734,911 shares of the company’s stock worth $838,786,000 after purchasing an additional 682,666 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

NYSE:FERG opened at $217.83 on Friday. The firm has a market capitalization of $42.34 billion, a PE ratio of 22.00, a PEG ratio of 1.80 and a beta of 1.17. The stock’s fifty day moving average is $248.52 and its 200 day moving average is $240.07. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $271.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88.

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

Ferguson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, March 6th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, March 6th. Ferguson’s dividend payout ratio is presently 35.96%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FERG. Jefferies Financial Group restated a “buy” rating and set a $300.00 price objective on shares of Ferguson in a research report on Tuesday, February 24th. Morgan Stanley reissued an “overweight” rating on shares of Ferguson in a research note on Tuesday, January 6th. Wall Street Zen cut Ferguson from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. UBS Group upped their price objective on Ferguson from $220.00 to $252.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Finally, Barclays raised their target price on shares of Ferguson from $278.00 to $295.00 and gave the company 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 four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $268.93.

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.