Royal London Asset Management Ltd. Has $255.43 Million Stock Position in Ferguson plc (NASDAQ:FERG)

Royal London Asset Management Ltd. boosted its stake in shares of Ferguson plc (NASDAQ:FERG) by 3.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,471,611 shares of the company’s stock after purchasing an additional 49,510 shares during the quarter. Ferguson accounts for about 0.6% of Royal London Asset Management Ltd.’s holdings, making the stock its 23rd biggest position. Royal London Asset Management Ltd.’s holdings in Ferguson were worth $255,428,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of FERG. Wealth Enhancement Advisory Services LLC boosted its position in shares of Ferguson by 0.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 23,834 shares of the company’s stock worth $4,137,000 after buying an additional 86 shares during the period. Caprock Group LLC boosted its position in Ferguson by 2.8% during the 4th quarter. Caprock Group LLC now owns 3,496 shares of the company’s stock worth $610,000 after acquiring an additional 94 shares during the period. Commerce Bank grew its stake in Ferguson by 3.8% during the 3rd quarter. Commerce Bank now owns 2,666 shares of the company’s stock valued at $529,000 after acquiring an additional 97 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Ferguson by 41.1% in the 4th quarter. Assetmark Inc. now owns 333 shares of the company’s stock valued at $58,000 after purchasing an additional 97 shares during the period. Finally, Inspire Advisors LLC lifted its position in shares of Ferguson by 3.7% in the fourth quarter. Inspire Advisors LLC now owns 3,001 shares of the company’s stock worth $521,000 after purchasing an additional 108 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FERG shares. 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 objective on the stock. JPMorgan Chase & Co. lowered their price target on shares of Ferguson from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday. Barclays cut their price objective on Ferguson from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Zelman & Associates downgraded Ferguson from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Wolfe Research initiated coverage on Ferguson in a research note on Monday. They set a “peer perform” rating for the company. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $200.67.

Ferguson Trading Up 1.1 %

NASDAQ:FERG opened at $164.72 on Thursday. The company’s 50 day moving average is $175.33 and its 200-day moving average is $189.23. 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 $152.52 and a 12 month high of $225.63. The firm has a market cap of $32.94 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 1.69 and a beta of 1.28.

Ferguson (NASDAQ:FERG) last released its earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.06). Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same period in the prior year, the firm earned $1.74 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. Equities analysts anticipate that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Friday, March 21st. Ferguson’s dividend payout ratio (DPR) is currently 40.84%.

Ferguson Company 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.