Neuberger Berman Group LLC Lowers Holdings in Ferguson plc $FERG

Key Points

• Neuberger Berman Group LLC reduced its stake in Ferguson plc by 49.9%, selling 10,778 shares and leaving them with 10,815 shares valued at approximately $1.72 million.
• Ferguson recently reported a quarterly earnings per share of $2.50, exceeding expectations and indicating a 4.3% revenue growth compared to the previous year.
• The stock has received a mix of analyst ratings, with several firms adjusting their price targets, leading to an average price target of $220.64 and a consensus rating of "Moderate Buy."

Neuberger Berman Group LLC lowered its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 49.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,815 shares of the company's stock after selling 10,778 shares during the period. Neuberger Berman Group LLC's holdings in Ferguson were worth $1,724,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Ferguson by 24.5% during the first quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company's stock worth $1,227,410,000 after purchasing an additional 1,506,024 shares during the period. Vontobel Holding Ltd. lifted its position in shares of Ferguson by 94.6% in the 1st quarter. Vontobel Holding Ltd. now owns 2,402,527 shares of the company's stock worth $384,957,000 after buying an additional 1,167,751 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Ferguson by 1,036.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,020,522 shares of the company's stock valued at $163,518,000 after purchasing an additional 930,696 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in Ferguson by 29.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 3,635,707 shares of the company's stock valued at $582,452,000 after buying an additional 831,112 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Ferguson by 13.8% in the 1st quarter. Invesco Ltd. now owns 6,818,800 shares of the company's stock worth $1,092,576,000 after purchasing an additional 827,355 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. The Goldman Sachs Group initiated coverage on shares of Ferguson in a research note on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price objective on the stock. UBS Group boosted their price target on shares of Ferguson from $173.00 to $204.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Royal Bank Of Canada increased their price objective on shares of Ferguson from $189.00 to $231.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. increased their price target on shares of Ferguson from $200.00 to $220.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Finally, Berenberg Bank restated a "hold" rating and set a $215.00 target price on shares of Ferguson in a report on Thursday, June 5th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $220.64.

Ferguson Price Performance

Shares of FERG stock traded up $0.14 during trading on Monday, hitting $231.40. The company had a trading volume of 1,193,612 shares, compared to its average volume of 1,720,571. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $232.92. 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's 50-day moving average is $220.99 and its two-hundred day moving average is $189.54. The stock has a market capitalization of $45.63 billion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 1.69 and a beta of 1.16.

Ferguson (NASDAQ:FERG - Get Free Report) last released 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 return on equity of 34.63% and a net margin of 5.68%. During the same quarter last year, the firm earned $2.32 earnings per share. The business's revenue was up 4.3% on a year-over-year basis. As a group, analysts predict that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Friday, June 20th were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, June 20th. Ferguson's dividend payout ratio (DPR) is presently 41.40%.

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.