Assenagon Asset Management S.A. Has $1.64 Million Stock Holdings in Ferguson plc $FERG

Key Points

• Assenagon Asset Management S.A. reduced its stake in Ferguson plc by 17.2%, now holding 7,530 shares valued at $1.64 million.
• Ferguson recently announced a quarterly dividend of $0.83 per share, with a yield of 1.5% and a payout ratio of 35.55%.
• Analysts maintain a positive outlook on Ferguson, with ten analysts rating the stock as a Buy and a consensus target price of $235.71.

Assenagon Asset Management S.A. cut its position in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 17.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,530 shares of the company's stock after selling 1,569 shares during the period. Assenagon Asset Management S.A.'s holdings in Ferguson were worth $1,640,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FERG. Grove Bank & Trust increased its stake 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 purchasing an additional 141 shares during the last quarter. Whipplewood Advisors LLC boosted its holdings in shares of Ferguson by 166.7% during the 1st quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock worth $33,000 after buying an additional 130 shares during the period. TD Private Client Wealth LLC boosted its holdings in shares of Ferguson by 56.5% during the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock worth $33,000 after buying an additional 74 shares during the period. Brooklyn Investment Group boosted its holdings in shares of Ferguson by 103.6% during the 1st quarter. Brooklyn Investment Group now owns 226 shares of the company's stock worth $36,000 after buying an additional 115 shares during the period. Finally, SVB Wealth LLC bought a new stake in shares of Ferguson during the 1st quarter worth about $43,000. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Ferguson in a report on Wednesday, June 18th. They set a "buy" rating and a $280.00 target price for the company. UBS Group lifted their target price on shares of Ferguson from $204.00 to $225.00 and gave the stock a "neutral" rating in a report on Wednesday, September 17th. Robert W. Baird boosted their price objective on shares of Ferguson from $260.00 to $262.00 and gave the company an "outperform" rating in a report on Wednesday, September 17th. Berenberg Bank reissued a "hold" rating and issued a $215.00 price objective on shares of Ferguson in a report on Thursday, June 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Ferguson from $220.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $235.71.

Ferguson Price Performance

FERG stock opened at $225.80 on Friday. The company has a 50 day simple moving average of $227.85 and a 200 day simple moving average of $200.28. The stock has a market cap of $44.52 billion, a price-to-earnings ratio of 27.11, a P/E/G ratio of 1.69 and a beta of 1.15. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $243.40. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, September 26th. Ferguson's dividend payout ratio is currently 35.55%.

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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