MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 96,885 Shares of Ferguson plc (NASDAQ:FERG)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lessened its stake in Ferguson plc (NASDAQ:FERG) by 74.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,688 shares of the company’s stock after selling 96,885 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Ferguson were worth $5,660,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Ferguson by 423.0% in 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 valued at $290,475,000 after acquiring an additional 1,183,143 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Ferguson by 7,632.6% in the fourth 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. Southpoint Capital Advisors LP raised its holdings in Ferguson by 133.3% in the third quarter. Southpoint Capital Advisors LP now owns 700,000 shares of the company’s stock worth $138,999,000 after purchasing an additional 400,000 shares during the period. Barclays PLC boosted its position in shares of Ferguson by 76.9% during the third quarter. Barclays PLC now owns 867,593 shares of the company’s stock worth $172,281,000 after purchasing an additional 377,283 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Ferguson by 910.3% in the 4th quarter. SG Americas Securities LLC now owns 366,015 shares of the company’s stock valued at $63,529,000 after buying an additional 329,786 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FERG. UBS Group reaffirmed a “neutral” rating and set a $193.00 price objective (down previously from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Robert W. Baird cut their price objective on Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Citigroup lowered their target price on Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Oppenheimer began coverage on shares of Ferguson in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price target on the stock. Finally, Wells Fargo & Company reduced their price target on shares of Ferguson from $220.00 to $215.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ferguson currently has an average rating of “Moderate Buy” and a consensus price target of $220.10.

Ferguson Trading Down 2.2 %

Ferguson stock opened at $181.68 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The firm has a 50-day moving average of $189.66 and a 200-day moving average of $197.89. The company has a market cap of $36.33 billion, a price-to-earnings ratio of 19.58, a P/E/G ratio of 1.75 and a beta of 1.24. Ferguson plc has a one year low of $167.27 and a one year high of $225.63.

Ferguson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Friday, December 20th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 1.83%. This is an increase from Ferguson’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Friday, December 20th. Ferguson’s dividend payout ratio (DPR) is currently 39.86%.

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.