Man Group plc Has $8.66 Million Stake in Ferguson plc (NASDAQ:FERG)

Man Group plc decreased its holdings in Ferguson plc (NASDAQ:FERG - Free Report) by 90.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,867 shares of the company's stock after selling 500,764 shares during the period. Man Group plc's holdings in Ferguson were worth $8,656,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FERG. Parnassus Investments LLC increased its stake in shares of Ferguson by 944.4% during the fourth quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company's stock worth $613,944,000 after purchasing an additional 3,198,477 shares during the period. Norges Bank bought a new position in shares of Ferguson during the fourth quarter worth approximately $469,730,000. Barclays PLC increased its stake in shares of Ferguson by 208.8% during the fourth quarter. Barclays PLC now owns 2,678,880 shares of the company's stock worth $464,973,000 after purchasing an additional 1,811,287 shares during the period. FMR LLC increased its stake in shares of Ferguson by 18.2% during the fourth quarter. FMR LLC now owns 10,007,892 shares of the company's stock worth $1,740,049,000 after purchasing an additional 1,539,889 shares during the period. Finally, Schroder Investment Management Group bought a new position in shares of Ferguson during the fourth quarter worth approximately $239,539,000. Institutional investors own 81.98% of the company's stock.

Ferguson Price Performance

Shares of FERG traded down $1.11 during midday trading on Friday, hitting $178.19. The company's stock had a trading volume of 1,551,032 shares, compared to its average volume of 1,626,201. Ferguson plc has a one year low of $146.00 and a one year high of $225.63. The company's fifty day simple moving average is $167.24 and its two-hundred day simple moving average is $178.77. 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 stock has a market capitalization of $35.63 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 1.69 and a beta of 1.14.

Ferguson (NASDAQ:FERG - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.06). Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.76 billion. During the same quarter in the previous year, the business posted $1.74 EPS. The company's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts expect that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Friday, March 21st were paid a $0.83 dividend. The ex-dividend date was Friday, March 21st. This represents a $3.32 annualized dividend and a dividend yield of 1.86%. Ferguson's payout ratio is 40.84%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Ferguson from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 19th. Citigroup lowered their price objective on Ferguson from $189.00 to $168.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 12th. Robert W. Baird set a $190.00 price objective on Ferguson and gave the stock an "outperform" rating in a research note on Wednesday, March 12th. Barclays lowered their price objective on Ferguson from $211.00 to $190.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 12th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $189.00 price objective on shares of Ferguson in a research note on Tuesday, March 18th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $199.38.

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.