AMF Tjanstepension AB Reduces Stock Position in Ferguson plc (NASDAQ:FERG)

Key Points

• AMF Tjanstepension AB reduced its stake in Ferguson plc by 14.7%, selling 9,743 shares and holding a total of 56,382 shares valued at approximately $9.03 million.
• Multiple institutional investors have recently adjusted their holdings, with Barclays PLC significantly increasing its stake in Ferguson by 208.8% to own over 2.67 million shares worth nearly $465 million.
• Analysts have a consensus rating of "Moderate Buy" for Ferguson, with target prices ranging from $204 to $280, reflecting strong confidence in the company's growth potential following a solid quarterly earnings report.

AMF Tjanstepension AB trimmed its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 14.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,382 shares of the company's stock after selling 9,743 shares during the period. AMF Tjanstepension AB's holdings in Ferguson were worth $9,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. LGT Financial Advisors LLC boosted its position in shares of Ferguson by 106.3% during the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock worth $34,000 after acquiring an additional 102 shares in the last quarter. Grove Bank & Trust lifted its position in shares of Ferguson by 247.4% during the 1st quarter. Grove Bank & Trust now owns 198 shares of the company's stock worth $32,000 after buying an additional 141 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of Ferguson by 56.5% in the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock valued at $33,000 after buying an additional 74 shares in the last quarter. Whipplewood Advisors LLC grew its position in shares of Ferguson by 166.7% in the 1st quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock valued at $33,000 after buying an additional 130 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in Ferguson during the 1st quarter worth $46,000. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Stock Performance

NASDAQ:FERG traded down $1.12 during mid-day trading on Monday, reaching $222.43. The stock had a trading volume of 1,359,748 shares, compared to its average volume of 1,736,618. 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 $43.86 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 1.69 and a beta of 1.16. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $228.80. The business has a 50 day simple moving average of $218.91 and a 200 day simple moving average of $187.93.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The business's revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.32 earnings per share. On average, analysts expect that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Friday, June 20th were issued a $0.83 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $3.32 dividend on an annualized basis and a yield of 1.5%. Ferguson's dividend payout ratio (DPR) is 41.40%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FERG shares. JPMorgan Chase & Co. raised their price objective on Ferguson from $200.00 to $220.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Wells Fargo & Company raised their price target on Ferguson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. The Goldman Sachs Group began coverage on Ferguson in a research note on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price objective for the company. Morgan Stanley reissued an "overweight" rating and issued a $220.00 price objective (up from $195.00) on shares of Ferguson in a report on Monday, June 9th. Finally, Royal Bank Of Canada increased their price objective on Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $220.64.

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.