Massachusetts Financial Services Co. MA Has $195.39 Million Stock Position in Ferguson plc $FERG

Key Points

• Massachusetts Financial Services Co. trimmed its stake in Ferguson by 2.6% to 877,633 shares, leaving it with roughly a $195.39 million position (about 0.45% of the company), while institutional investors own 81.98% of the stock.
• Analysts are broadly positive on Ferguson, with an average rating of "Moderate Buy" and an average price target of $267.27 after several recent target increases from firms like Barclays, Jefferies and RBC.
• Ferguson reported Q results with EPS of $1.99 (missing estimates by $0.25) and revenue up 3.6% year-over-year, and the company declared a quarterly dividend of $0.89 (annualized $3.56, yield 1.4%).

Massachusetts Financial Services Co. MA decreased its holdings in shares of Ferguson plc (NYSE:FERG - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 877,633 shares of the company's stock after selling 23,371 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.45% of Ferguson worth $195,387,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FERG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Ferguson by 23.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company's stock worth $2,445,000 after purchasing an additional 2,940 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of Ferguson during the 1st quarter worth $310,000. Focus Partners Wealth increased its stake in shares of Ferguson by 22.7% during the 1st quarter. Focus Partners Wealth now owns 3,140 shares of the company's stock worth $503,000 after purchasing an additional 581 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Ferguson during the 2nd quarter worth $257,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Ferguson by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company's stock worth $150,000 after purchasing an additional 48 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company's stock.

Analyst Upgrades and Downgrades

FERG has been the topic of a number of research analyst reports. Sanford C. Bernstein reiterated an "outperform" rating on shares of Ferguson in a research note on Thursday, January 8th. Royal Bank Of Canada raised their target price on shares of Ferguson from $247.00 to $271.00 and gave the company an "outperform" rating in a research note on Tuesday, February 24th. Barclays raised their target price on shares of Ferguson from $278.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, February 25th. Jefferies Financial Group reiterated a "buy" rating and issued a $300.00 target price on shares of Ferguson in a research note on Tuesday, February 24th. Finally, Oppenheimer raised their target price on shares of Ferguson from $255.00 to $280.00 and gave the company an "outperform" rating in a research note on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $267.27.

Ferguson Stock Performance

NYSE:FERG opened at $257.26 on Monday. Ferguson plc has a 1 year low of $158.68 and a 1 year high of $271.64. The firm's fifty day simple moving average is $243.78 and its 200 day simple moving average is $240.84. The company has a current ratio of 1.88, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $50.01 billion, a PE ratio of 25.99, a PEG ratio of 2.09 and a beta of 1.21.

Ferguson (NYSE:FERG - Get Free Report) last posted its earnings results on Tuesday, February 24th. The company reported $1.99 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.24 by ($0.25). Ferguson had a net margin of 6.93% and a return on equity of 40.37%. The business's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the business earned $1.52 earnings per share.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Friday, March 6th will be given a $0.89 dividend. The ex-dividend date is Friday, March 6th. This represents a $3.56 dividend on an annualized basis and a yield of 1.4%. Ferguson's payout ratio is 35.96%.

Ferguson Profile

Ferguson NYSE: FERG is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.

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