Pinebridge Investments L.P. Sells 38,922 Shares of Ferguson plc (NASDAQ:FERG)

Pinebridge Investments L.P. cut its holdings in Ferguson plc (NASDAQ:FERG - Free Report) by 63.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,808 shares of the company's stock after selling 38,922 shares during the quarter. Pinebridge Investments L.P.'s holdings in Ferguson were worth $3,959,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Manchester Capital Management LLC grew its holdings in Ferguson by 906.7% in the fourth quarter. Manchester Capital Management LLC now owns 151 shares of the company's stock worth $26,000 after purchasing an additional 136 shares during the last quarter. Berbice Capital Management LLC acquired a new position in shares of Ferguson in the fourth quarter worth about $35,000. R Squared Ltd acquired a new position in shares of Ferguson in the fourth quarter worth about $45,000. Private Trust Co. NA raised its position in shares of Ferguson by 92.5% during the 4th quarter. Private Trust Co. NA now owns 258 shares of the company's stock worth $45,000 after purchasing an additional 124 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of Ferguson by 41.1% during the 4th quarter. Assetmark Inc. now owns 333 shares of the company's stock worth $58,000 after purchasing an additional 97 shares during the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Stock Performance

NASDAQ:FERG traded up $0.53 during mid-day trading on Thursday, reaching $170.19. 333,002 shares of the company's stock were exchanged, compared to its average volume of 1,583,574. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. Ferguson plc has a one year low of $146.00 and a one year high of $225.63. The firm has a market capitalization of $34.03 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17. The business's fifty day simple moving average is $164.25 and its two-hundred day simple moving average is $181.71.

Ferguson (NASDAQ:FERG - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $6.76 billion. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. Ferguson's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $1.74 earnings per share. Analysts anticipate that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Friday, March 21st. Ferguson's payout ratio is currently 40.84%.

Analysts Set New Price Targets

FERG has been the subject of several recent analyst reports. Bank of America raised Ferguson from an "underperform" rating to a "buy" rating and raised their target price for the stock from $185.00 to $225.00 in a research note on Wednesday, January 8th. Wolfe Research started coverage on Ferguson in a report on Monday, March 17th. They set a "peer perform" rating for the company. Barclays reduced their target price on Ferguson from $211.00 to $190.00 and set an "overweight" rating for the company in a report on Wednesday, March 12th. Citigroup decreased their price target on Ferguson from $189.00 to $168.00 and set a "neutral" rating for the company in a report on Wednesday, March 12th. Finally, Wells Fargo & Company raised their target price on Ferguson from $180.00 to $190.00 and gave the company an "overweight" rating in a report on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target 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.