Fred Alger Management LLC Sells 97,752 Shares of Ferguson plc (NASDAQ:FERG)

Fred Alger Management LLC decreased its position in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 54.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 80,797 shares of the company's stock after selling 97,752 shares during the quarter. Fred Alger Management LLC's holdings in Ferguson were worth $14,105,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FERG. Barclays PLC raised its holdings in Ferguson by 76.9% during the 3rd quarter. Barclays PLC now owns 867,593 shares of the company's stock worth $172,281,000 after purchasing an additional 377,283 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Ferguson during the 3rd quarter worth approximately $66,000. First Hawaiian Bank bought a new position in Ferguson during the 4th quarter worth approximately $342,000. Wealth Enhancement Advisory Services LLC increased 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 valued at $4,137,000 after acquiring an additional 86 shares in the last quarter. Finally, Hilltop National Bank bought a new stake in shares of Ferguson in the 4th quarter valued at $100,000. Institutional investors own 81.98% of the company's stock.

Ferguson Stock Up 0.1%

FERG stock traded up $0.15 during midday trading on Friday, reaching $171.24. 756,023 shares of the company's stock traded hands, compared to its average volume of 1,603,794. The company has a market cap of $34.24 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 1.69 and a beta of 1.14. The firm's fifty day moving average price is $163.79 and its 200-day moving average price is $179.98. 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 plc has a 52 week low of $146.00 and a 52 week high of $225.63.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its 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 return on equity of 34.63% and a net margin of 5.68%. The firm 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 company earned $1.74 EPS. The business's revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st were paid a $0.83 dividend. The ex-dividend date of this dividend was Friday, March 21st. This represents a $3.32 annualized dividend and a yield of 1.94%. Ferguson's dividend payout ratio (DPR) is 40.84%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FERG. Citigroup lowered their price objective on shares of Ferguson from $189.00 to $168.00 and set a "neutral" rating for the company in a research note on Wednesday, March 12th. Barclays cut their price objective on shares of Ferguson from $211.00 to $190.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 12th. JPMorgan Chase & Co. cut their price objective on shares of Ferguson from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 19th. Robert W. Baird set a $190.00 price objective on shares of Ferguson and gave the stock an "outperform" rating in a research report on Wednesday, March 12th. Finally, Deutsche Bank Aktiengesellschaft initiated 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. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $199.38.

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.