Adage Capital Partners GP L.L.C. Buys New Shares in Ferguson plc (NASDAQ:FERG)

Adage Capital Partners GP L.L.C. purchased a new position in Ferguson plc (NASDAQ:FERG - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 200,739 shares of the company's stock, valued at approximately $34,842,000. Adage Capital Partners GP L.L.C. owned approximately 0.10% of Ferguson as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. lifted its stake in Ferguson by 24.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,071,844 shares of the company's stock worth $359,610,000 after purchasing an additional 412,805 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Ferguson by 12.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,699,003 shares of the company's stock valued at $468,467,000 after buying an additional 297,749 shares during the period. Dark Forest Capital Management LP raised its stake in Ferguson by 520.6% during the fourth quarter. Dark Forest Capital Management LP now owns 11,282 shares of the company's stock worth $1,958,000 after acquiring an additional 9,464 shares during the period. Manchester Global Management UK Ltd bought a new stake in shares of Ferguson in the 4th quarter worth approximately $2,188,000. Finally, SIH Partners LLLP bought a new position in Ferguson in the 4th quarter worth approximately $21,190,000. Institutional investors own 81.98% of the company's stock.

Ferguson Trading Down 0.9 %

FERG traded down $1.55 during trading on Wednesday, reaching $168.25. 414,193 shares of the company's stock were exchanged, compared to its average volume of 1,582,453. The company's fifty day moving average price is $164.38 and its 200-day moving average price is $181.79. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. The firm has a market capitalization of $33.64 billion, a PE ratio of 20.20, a P/E/G ratio of 1.69 and a beta of 1.17. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $225.63.

Ferguson (NASDAQ:FERG - Get Free Report) last announced 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 net margin of 5.68% and a return on equity of 34.63%. The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.76 billion. During the same period last year, the firm earned $1.74 EPS. Ferguson's quarterly revenue was up 3.0% on a year-over-year basis. As a group, equities analysts forecast that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, March 21st will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, March 21st. Ferguson's dividend payout ratio is presently 40.84%.

Analyst Upgrades and Downgrades

Several analysts recently commented on FERG shares. Barclays cut their target price on shares of Ferguson from $211.00 to $190.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. Robert W. Baird set a $190.00 target price on shares of Ferguson and gave the stock an "outperform" rating in a research report 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 objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Ferguson in a report on Tuesday, April 1st. They set a "hold" rating and a $174.00 price target for the company. Finally, Zelman & Associates downgraded Ferguson from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 17th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $199.38.

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.