Fjarde AP Fonden Fourth Swedish National Pension Fund Buys 8,800 Shares of Ferguson plc $FERG

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Ferguson plc by 22.2%, owning 48,400 shares valued at $7,755,000 at the end of the last reporting period.
• Major analysts have set price targets for Ferguson shares, with Wells Fargo increasing their target from $230.00 to $250.00, while Goldman Sachs initiated coverage with a price target of $280.00.
• Ferguson recently declared a quarterly dividend of $0.83 per share, reflecting an annualized yield of 1.5% and a payout ratio of 41.40%.

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Ferguson plc (NASDAQ:FERG - Free Report) by 22.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,400 shares of the company's stock after buying an additional 8,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Ferguson were worth $7,755,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Grove Bank & Trust lifted its holdings in Ferguson by 247.4% in 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 period. Whipplewood Advisors LLC raised its holdings in shares of Ferguson by 166.7% during the first quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock valued at $33,000 after acquiring an additional 130 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in Ferguson by 56.5% in the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock worth $33,000 after acquiring an additional 74 shares during the period. LGT Financial Advisors LLC boosted its holdings in Ferguson by 106.3% in the fourth quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock valued at $34,000 after acquiring an additional 102 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in Ferguson during the 1st quarter valued at $46,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Stock Performance

Shares of NASDAQ FERG traded down $2.7270 during trading on Wednesday, reaching $229.6530. 124,810 shares of the company traded hands, compared to its average volume of 1,704,739. The firm has a 50 day simple moving average of $221.65 and a 200-day simple moving average of $190.18. Ferguson plc has a 52-week low of $146.00 and a 52-week high of $235.12. The stock has a market capitalization of $45.28 billion, a PE ratio of 27.57, a P/E/G ratio of 1.69 and a beta of 1.16. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83.

Ferguson (NASDAQ:FERG - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share 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%. During the same quarter in the prior year, the business earned $2.32 EPS. The company's revenue was up 4.3% compared to the same quarter last year. Equities research analysts anticipate that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, June 20th. This represents a $3.32 annualized dividend and a dividend yield of 1.4%. Ferguson's dividend payout ratio is presently 41.40%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $220.00 target price (up from $195.00) on shares of Ferguson in a research report on Monday, June 9th. Oppenheimer raised their price objective on shares of Ferguson from $189.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Berenberg Bank reaffirmed a "hold" rating and set a $215.00 price objective on shares of Ferguson in a research report on Thursday, June 5th. The Goldman Sachs Group assumed coverage on Ferguson in a research report on Wednesday, June 18th. They issued a "buy" rating and a $280.00 target price for the company. Finally, Royal Bank Of Canada raised their target price on Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.