ASR Vermogensbeheer N.V. Decreases Stock Position in Ferguson plc $FERG

Key Points

• ASR Vermogensbeheer N.V. has reduced its stake in Ferguson plc by 55.2% during the second quarter, leaving it with 1,973 shares valued at approximately $430,000.
• Several institutional investors, including T. Rowe Price and Wellington Management Group, significantly increased their holdings in Ferguson, with Wellington's position growing by a staggering 769.5%.
• Ferguson recently announced a quarterly dividend of $0.83, with a current yield of 1.4%, and also saw various brokerages adjust their price targets upward, reflecting positive analyst sentiment.

ASR Vermogensbeheer N.V. reduced its position in Ferguson plc (NASDAQ:FERG - Free Report) by 55.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,973 shares of the company's stock after selling 2,431 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in Ferguson were worth $430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of FERG. T. Rowe Price Investment Management Inc. increased its position in Ferguson by 101.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,165,873 shares of the company's stock worth $667,498,000 after buying an additional 2,094,029 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Ferguson by 65.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,454,467 shares of the company's stock worth $713,740,000 after buying an additional 1,755,464 shares during the last quarter. Bank of New York Mellon Corp increased its position in Ferguson by 24.5% in the first quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company's stock worth $1,227,410,000 after buying an additional 1,506,024 shares during the last quarter. Vontobel Holding Ltd. increased its position in Ferguson by 94.6% in the first quarter. Vontobel Holding Ltd. now owns 2,402,527 shares of the company's stock worth $384,957,000 after buying an additional 1,167,751 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Ferguson by 769.5% in the first quarter. Wellington Management Group LLP now owns 1,266,954 shares of the company's stock worth $203,004,000 after buying an additional 1,121,249 shares during the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Price Performance

FERG opened at $231.93 on Friday. The stock has a 50-day moving average price of $228.25 and a 200-day moving average price of $202.90. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $243.40. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $45.49 billion, a P/E ratio of 27.84, a PEG ratio of 1.69 and a beta of 1.17.

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, September 26th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 26th. Ferguson's payout ratio is 35.55%.

Analyst Ratings Changes

Several brokerages have recently weighed in on FERG. Barclays lifted their price target on Ferguson from $247.00 to $273.00 and gave the company an "overweight" rating in a research report on Thursday, September 18th. Wells Fargo & Company lifted their price target on Ferguson from $250.00 to $275.00 and gave the company an "overweight" rating in a research report on Wednesday, September 17th. Royal Bank Of Canada lifted their price target on Ferguson from $231.00 to $243.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. JPMorgan Chase & Co. lifted their price target on Ferguson from $220.00 to $225.00 and gave the company an "overweight" rating in a research report on Thursday, September 4th. Finally, The Goldman Sachs Group began coverage on Ferguson in a research report on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price target for the company. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Ferguson has an average rating of "Moderate Buy" and a consensus target price of $235.71.

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.

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