Tokio Marine Asset Management Co. Ltd. Trims Stake in Ferguson plc $FERG

Key Points

• Tokio Marine Asset Management Co. Ltd. reduced its stake in Ferguson plc by 67.5% during the first quarter, now holding 13,330 shares valued at approximately $2.14 million.
• Ferguson recently reported quarterly earnings of $2.50 per share, exceeding the consensus estimate by $0.44 with a 4.3% increase in revenue year-over-year.
• The company's current dividend yield is 1.4%, with an annualized dividend of $3.32 and a payout ratio of 41.40%.

Tokio Marine Asset Management Co. Ltd. trimmed its position in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 67.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,330 shares of the company's stock after selling 27,744 shares during the period. Tokio Marine Asset Management Co. Ltd.'s holdings in Ferguson were worth $2,136,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. US Bancorp DE grew its stake in shares of Ferguson by 0.8% during the first quarter. US Bancorp DE now owns 7,394 shares of the company's stock valued at $1,185,000 after buying an additional 59 shares during the last quarter. Mission Wealth Management LP grew its stake in shares of Ferguson by 2.2% in the first quarter. Mission Wealth Management LP now owns 3,050 shares of the company's stock worth $489,000 after purchasing an additional 67 shares during the last quarter. James Hambro & Partners LLP grew its stake in shares of Ferguson by 1.1% in the first quarter. James Hambro & Partners LLP now owns 6,311 shares of the company's stock worth $1,011,000 after purchasing an additional 70 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Ferguson by 6.5% in the fourth quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company's stock worth $211,000 after purchasing an additional 74 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its stake in shares of 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 purchasing an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company's stock.

Ferguson Price Performance

Shares of FERG traded up $0.14 during midday trading on Monday, hitting $231.40. 1,193,612 shares of the company traded hands, compared to its average volume of 1,720,505. The firm has a 50 day moving average of $220.99 and a 200-day moving average of $189.54. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $232.92. The stock has a market cap of $45.63 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 1.69 and a beta of 1.16. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68.

Ferguson (NASDAQ:FERG - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. Ferguson's revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.32 earnings per share. On average, analysts forecast that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently announced 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. This represents a $3.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, June 20th. Ferguson's dividend payout ratio is currently 41.40%.

Wall Street Analyst Weigh In

Several brokerages have commented on FERG. Royal Bank Of Canada raised 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. UBS Group raised their price objective on shares of Ferguson from $173.00 to $204.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Truist Financial reiterated a "buy" rating and set a $230.00 target price on shares of Ferguson in a report on Wednesday, June 4th. The Goldman Sachs Group started coverage on shares of Ferguson in a report on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price objective for the company. Finally, Wells Fargo & Company boosted their target price on shares of Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $220.64.

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.