Partners in Financial Planning Invests $1.14 Million in Ferguson plc (NASDAQ:FERG)

Partners in Financial Planning acquired a new stake in shares of Ferguson plc (NASDAQ:FERG) in the fourth quarter, Holdings Channel reports. The fund acquired 6,566 shares of the company’s stock, valued at approximately $1,140,000.

A number of other institutional investors have also recently added to or reduced their stakes in FERG. Parnassus Investments LLC boosted its holdings in shares of Ferguson by 944.4% during the fourth quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company’s stock valued at $613,944,000 after acquiring an additional 3,198,477 shares during the period. Norges Bank bought a new stake in Ferguson in the 4th quarter valued at about $469,730,000. Schroder Investment Management Group acquired a new position in Ferguson during the 4th quarter valued at about $239,539,000. Mawer Investment Management Ltd. grew its position in Ferguson by 2,384.2% in the 4th quarter. Mawer Investment Management Ltd. now owns 1,071,575 shares of the company’s stock worth $185,993,000 after purchasing an additional 1,028,440 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its stake in shares of Ferguson by 339.9% in the fourth quarter. Vontobel Holding Ltd. now owns 1,234,776 shares of the company’s stock valued at $214,320,000 after purchasing an additional 954,092 shares during the period. 81.98% of the stock is currently owned by institutional investors.

Ferguson Stock Performance

Shares of FERG opened at $160.63 on Monday. 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’s 50 day moving average is $173.86 and its 200-day moving average is $187.70. Ferguson plc has a 12-month low of $152.52 and a 12-month high of $225.63. The stock has a market capitalization of $32.12 billion, a P/E ratio of 19.28, a P/E/G ratio of 1.69 and a beta of 1.28.

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

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, March 21st will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, March 21st. Ferguson’s dividend payout ratio (DPR) is presently 40.84%.

Analyst Ratings Changes

FERG has been the subject of several analyst reports. UBS Group reiterated a “neutral” rating and set a $193.00 price objective (down from $230.00) on shares of Ferguson in a research report on Wednesday, January 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $189.00 price target on shares of Ferguson in a research report on Tuesday, March 18th. Zelman & Associates lowered Ferguson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 17th. Bank of America upgraded shares of Ferguson from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $185.00 to $225.00 in a research note on Wednesday, January 8th. Finally, Oppenheimer decreased their target price on shares of Ferguson from $234.00 to $189.00 and set an “outperform” rating for the company in a research report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Ferguson currently has an average rating of “Moderate Buy” and an average price target of $200.67.

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.