Bank of America Corp DE Has $76.78 Million Holdings in Ferguson plc (NASDAQ:FERG)

Bank of America Corp DE trimmed its position in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 32.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 442,357 shares of the company's stock after selling 208,645 shares during the period. Bank of America Corp DE owned approximately 0.22% of Ferguson worth $76,780,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in FERG. BLI Banque de Luxembourg Investments acquired a new stake in Ferguson during the 4th quarter worth approximately $3,191,000. Algert Global LLC grew its stake in shares of Ferguson by 5.3% in the fourth quarter. Algert Global LLC now owns 6,623 shares of the company's stock valued at $1,150,000 after buying an additional 335 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in Ferguson during the 4th quarter worth approximately $49,267,000. Armor Advisors L.L.C. acquired a new stake in Ferguson in the fourth quarter valued at approximately $10,345,000. Finally, 59 North Capital Management LP lifted its position in shares of Ferguson by 35.5% during the fourth quarter. 59 North Capital Management LP now owns 824,470 shares of the company's stock worth $143,103,000 after purchasing an additional 215,899 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FERG. Morgan Stanley started coverage on shares of Ferguson in a research note on Monday, February 3rd. They set an "overweight" rating and a $204.00 price target on the stock. Zelman & Associates cut shares of Ferguson from a "strong-buy" rating to a "hold" rating in a report on Friday, January 17th. Wolfe Research assumed coverage on Ferguson in a research note on Monday, March 17th. They issued a "peer perform" rating for the company. Wells Fargo & Company lifted their price objective on shares of Ferguson from $180.00 to $190.00 and gave the company an "overweight" rating in a research note on Monday, April 14th. 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. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, Ferguson has an average rating of "Moderate Buy" and a consensus target price of $199.38.

Ferguson Stock Performance

Shares of FERG stock traded up $2.83 during trading on Friday, reaching $184.54. The company had a trading volume of 1,716,944 shares, compared to its average volume of 1,616,058. The firm's 50 day simple moving average is $164.59 and its two-hundred day simple moving average is $179.69. Ferguson plc has a one year low of $146.00 and a one year high of $225.63. 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 company has a market capitalization of $36.90 billion, a PE ratio of 22.15, a PEG ratio of 1.69 and a beta of 1.14.

Ferguson (NASDAQ:FERG - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $6.76 billion. During the same quarter in the previous year, the firm posted $1.74 earnings per share. Ferguson's quarterly revenue was up 3.0% compared to the same quarter last year. Sell-side analysts forecast that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Friday, March 21st were given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Friday, March 21st. Ferguson's dividend payout ratio is currently 40.84%.

Ferguson 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.