Ferguson plc $FERG Shares Sold by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its stake in Ferguson plc by 4.8%, selling 1,554 shares during the second quarter, now holding 31,134 shares worth approximately $6.79 million.
• Ferguson announced a quarterly dividend of $0.83, which will be paid on November 7th, while the stock currently has a 1.5% annual yield.
• Equity analysts have raised their price targets for Ferguson, with Barclays setting a target of $273.00 and JPMorgan Chase among those rating the stock as "overweight," leading to an average target of $235.71.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH decreased its position in Ferguson plc (NASDAQ:FERG - Free Report) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,134 shares of the company's stock after selling 1,554 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Ferguson were worth $6,792,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its holdings in Ferguson by 1,075.1% during the fourth quarter. Toronto Dominion Bank now owns 28,625 shares of the company's stock worth $4,968,000 after purchasing an additional 26,189 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new stake in Ferguson during the fourth quarter worth approximately $372,000. 111 Capital acquired a new stake in Ferguson during the fourth quarter worth approximately $492,000. MassMutual Private Wealth & Trust FSB raised its holdings in Ferguson by 259.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 291 shares of the company's stock worth $47,000 after purchasing an additional 210 shares in the last quarter. Finally, Norman Fields Gottscho Capital Management LLC purchased a new position in shares of Ferguson during the first quarter worth approximately $2,375,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Price Performance

Ferguson stock opened at $226.07 on Thursday. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $243.40. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The firm's 50-day simple moving average is $227.66 and its 200 day simple moving average is $199.40. The firm has a market capitalization of $44.58 billion, a PE ratio of 27.14, a P/E/G ratio of 1.69 and a beta of 1.15.

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $3.32 annualized dividend and a yield of 1.5%. Ferguson's payout ratio is presently 35.55%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Ferguson from $220.00 to $225.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. The Goldman Sachs Group assumed coverage on shares of Ferguson in a research report on Wednesday, June 18th. They set a "buy" rating and a $280.00 target price on the stock. UBS Group raised their target price on shares of Ferguson from $204.00 to $225.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 17th. Barclays raised their target price on shares of Ferguson from $247.00 to $273.00 and gave the stock an "overweight" rating in a research report on Thursday, September 18th. Finally, Royal Bank Of Canada lifted their price objective on shares of Ferguson from $231.00 to $243.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Ferguson has an average rating of "Moderate Buy" and a consensus price target of $235.71.

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.

Want to see what other hedge funds are holding FERG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferguson plc (NASDAQ:FERG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.