Allianz Asset Management GmbH Sells 90,944 Shares of Ferguson plc (NASDAQ:FERG)

Allianz Asset Management GmbH decreased its position in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 21.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 324,094 shares of the company's stock after selling 90,944 shares during the period. Allianz Asset Management GmbH owned approximately 0.16% of Ferguson worth $51,930,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Ferguson by 14.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,782 shares of the company's stock worth $928,000 after buying an additional 722 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in Ferguson by 24.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,393 shares of the company's stock valued at $544,000 after acquiring an additional 657 shares during the period. Manning & Napier Advisors LLC grew its position in Ferguson by 40.3% during the 1st quarter. Manning & Napier Advisors LLC now owns 35,015 shares of the company's stock worth $5,610,000 after acquiring an additional 10,064 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Ferguson by 3,777.8% during the 1st quarter. Nisa Investment Advisors LLC now owns 17,450 shares of the company's stock worth $2,810,000 after acquiring an additional 17,000 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Ferguson in the 1st quarter worth approximately $932,000. Institutional investors own 81.98% of the company's stock.

Ferguson Stock Up 0.2%

Shares of FERG traded up $0.39 on Friday, hitting $224.08. 1,110,373 shares of the stock traded hands, compared to its average volume of 1,793,970. Ferguson plc has a one year low of $146.00 and a one year high of $227.73. The company has a market capitalization of $44.18 billion, a PE ratio of 26.90, a P/E/G ratio of 1.69 and a beta of 1.17. The business has a 50 day simple moving average of $210.19 and a 200 day simple moving average of $184.53. 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 (NASDAQ:FERG - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported $2.50 EPS for the quarter, topping analysts' consensus estimates of $2.06 by $0.44. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. During the same period last year, the business posted $2.32 earnings per share. The company's quarterly revenue was up 4.3% compared to the same quarter last year. As a group, equities analysts forecast that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Friday, June 20th will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Friday, June 20th. Ferguson's dividend payout ratio (DPR) is 41.40%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Morgan Stanley reissued an "overweight" rating and set a $220.00 price objective (up previously from $195.00) on shares of Ferguson in a research note on Monday, June 9th. Barclays increased their price target on shares of Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Wells Fargo & Company boosted their price objective on shares of Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferguson in a report on Tuesday, April 1st. They set a "hold" rating and a $174.00 target price for the company. Finally, Truist Financial reissued a "buy" rating and issued a $230.00 target price on shares of Ferguson in a research note on Wednesday, June 4th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $220.64.

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.