Foxhaven Asset Management LP Has $258.74 Million Stock Holdings in Ferguson plc (NASDAQ:FERG)

Foxhaven Asset Management LP raised its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 12.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,490,696 shares of the company's stock after purchasing an additional 162,651 shares during the period. Ferguson accounts for approximately 6.9% of Foxhaven Asset Management LP's investment portfolio, making the stock its 5th biggest position. Foxhaven Asset Management LP owned approximately 0.75% of Ferguson worth $258,740,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Integrated Wealth Concepts LLC lifted its position in shares of Ferguson by 6.5% during the 4th quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company's stock valued at $211,000 after acquiring an additional 74 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Ferguson by 1.3% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,390 shares of the company's stock valued at $1,109,000 after purchasing an additional 80 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Ferguson by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,834 shares of the company's stock worth $4,137,000 after buying an additional 86 shares during the last quarter. Caprock Group LLC grew its stake in Ferguson by 2.8% in the 4th quarter. Caprock Group LLC now owns 3,496 shares of the company's stock valued at $610,000 after purchasing an additional 94 shares during the period. Finally, Assetmark Inc. increased its holdings in Ferguson by 41.1% during the fourth quarter. Assetmark Inc. now owns 333 shares of the company's stock worth $58,000 after buying an additional 97 shares during the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Citigroup decreased their price objective on Ferguson from $189.00 to $168.00 and set a "neutral" rating for the company in a report on Wednesday, March 12th. JPMorgan Chase & Co. dropped their price objective on Ferguson from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Wednesday, March 19th. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferguson in a research report on Tuesday, April 1st. They set a "hold" rating and a $174.00 price objective on the stock. Wells Fargo & Company boosted their target price on Ferguson from $180.00 to $190.00 and gave the stock an "overweight" rating in a research report on Monday, April 14th. Finally, Wolfe Research began coverage on Ferguson in a research note on Monday, March 17th. They set a "peer perform" rating on the stock. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $199.38.

Ferguson Stock Up 3.5%

Shares of NASDAQ:FERG traded up $6.07 during midday trading on Thursday, reaching $181.18. The company's stock had a trading volume of 1,627,136 shares, compared to its average volume of 1,607,091. The firm has a 50 day moving average of $164.27 and a 200-day moving average of $179.80. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $225.63. The firm has a market capitalization of $36.23 billion, a P/E ratio of 21.74, a PEG ratio of 1.69 and a beta of 1.14. 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 released its quarterly earnings data on Tuesday, March 11th. The company reported $1.52 earnings per share for the quarter, missing analysts' consensus estimates of $1.58 by ($0.06). The firm had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.76 billion. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.74 earnings per share. On average, research analysts anticipate that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 1.83%. Ferguson's dividend payout ratio (DPR) is currently 40.84%.

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.