Woodline Partners LP Purchases Shares of 65,928 Ferguson plc (NASDAQ:FERG)

Woodline Partners LP bought a new position in shares of Ferguson plc (NASDAQ:FERG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 65,928 shares of the company's stock, valued at approximately $11,443,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC grew its stake in Ferguson by 906.7% in the fourth quarter. Manchester Capital Management LLC now owns 151 shares of the company's stock valued at $26,000 after acquiring an additional 136 shares during the period. LGT Financial Advisors LLC lifted its holdings in Ferguson by 106.3% during the fourth quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock worth $34,000 after acquiring an additional 102 shares during the period. Berbice Capital Management LLC bought a new stake in Ferguson during the fourth quarter worth $35,000. Private Trust Co. NA lifted its holdings in Ferguson by 92.5% during the fourth quarter. Private Trust Co. NA now owns 258 shares of the company's stock worth $45,000 after acquiring an additional 124 shares during the period. Finally, R Squared Ltd bought a new stake in Ferguson during the fourth quarter worth $45,000. Institutional investors and hedge funds own 81.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Citigroup dropped their price target on Ferguson from $189.00 to $168.00 and set a "neutral" rating on the stock in a report on Wednesday, March 12th. Wolfe Research assumed coverage on Ferguson in a report on Monday, March 17th. They set a "peer perform" rating on the stock. JPMorgan Chase & Co. lifted their price target on Ferguson from $190.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday. Barclays lowered their target price on Ferguson from $211.00 to $190.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 12th. Finally, Oppenheimer lowered their target price on Ferguson from $234.00 to $189.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 12th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $200.15.

Ferguson Trading Down 0.5%

Shares of NASDAQ:FERG traded down $0.90 during trading hours on Wednesday, hitting $182.00. 251,197 shares of the company's stock traded hands, compared to its average volume of 1,822,380. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $225.63. The business has a fifty day moving average price of $167.90 and a 200-day moving average price of $178.38. The firm has a market capitalization of $36.39 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 1.69 and a beta of 1.14. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91.

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 analysts' consensus estimates of $1.58 by ($0.06). The firm had revenue of $6.87 billion during the quarter, compared to analysts' expectations of $6.76 billion. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The firm's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.74 EPS. Equities analysts expect that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Friday, March 21st were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Friday, March 21st. 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.