Ferguson plc (NASDAQ:FERG) Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its stake in shares of Ferguson plc (NASDAQ:FERG) by 7.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,804,595 shares of the company’s stock after purchasing an additional 192,052 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Ferguson were worth $486,814,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Meiji Yasuda Asset Management Co Ltd. raised its stake in Ferguson by 1.3% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,390 shares of the company’s stock valued at $1,109,000 after buying an additional 80 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Ferguson by 0.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,834 shares of the company’s stock valued at $4,137,000 after acquiring an additional 86 shares in the last quarter. Caprock Group LLC lifted its stake in Ferguson by 2.8% during the fourth quarter. Caprock Group LLC now owns 3,496 shares of the company’s stock worth $610,000 after purchasing an additional 94 shares during the last quarter. Assetmark Inc. boosted its holdings in Ferguson by 41.1% in the fourth quarter. Assetmark Inc. now owns 333 shares of the company’s stock worth $58,000 after purchasing an additional 97 shares during the period. Finally, Inspire Advisors LLC increased its stake in Ferguson by 3.7% during the fourth quarter. Inspire Advisors LLC now owns 3,001 shares of the company’s stock valued at $521,000 after purchasing an additional 108 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FERG. Robert W. Baird set a $190.00 price target on shares of Ferguson and gave the company an “outperform” rating in a report on Wednesday, March 12th. Wells Fargo & Company decreased their target price on Ferguson from $205.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Morgan Stanley began coverage on Ferguson in a research report on Monday, February 3rd. They set an “overweight” rating and a $204.00 price target on the stock. Oppenheimer reduced their price objective on Ferguson from $234.00 to $189.00 and set an “outperform” rating for the company in a research report on Wednesday, March 12th. Finally, Bank of America raised Ferguson from an “underperform” rating to a “buy” rating and increased their target price for the stock from $185.00 to $225.00 in a research report on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Ferguson presently has an average rating of “Moderate Buy” and a consensus target price of $200.67.

Ferguson Price Performance

Shares of NASDAQ FERG opened at $163.28 on Friday. The firm’s 50-day simple moving average is $174.20 and its 200 day simple moving average is $187.89. The stock has a market cap of $32.65 billion, a P/E ratio of 19.60, a P/E/G ratio of 1.69 and a beta of 1.28. 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 fifty-two week low of $152.52 and a fifty-two week high of $225.63.

Ferguson (NASDAQ:FERG) last released its quarterly 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). The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.76 billion. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.74 earnings per share. Equities analysts expect that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st will be given a $0.83 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $3.32 dividend on an annualized basis and a yield of 2.03%. Ferguson’s dividend payout ratio (DPR) is 40.84%.

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.