Gabelli Funds LLC Makes New $269,000 Investment in Ferguson plc (NASDAQ:FERG)

Gabelli Funds LLC acquired a new stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,550 shares of the company's stock, valued at approximately $269,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FERG. Barclays PLC boosted its stake in shares of Ferguson by 76.9% in the 3rd quarter. Barclays PLC now owns 867,593 shares of the company's stock worth $172,281,000 after buying an additional 377,283 shares during the last quarter. Anchor Investment Management LLC purchased a new position in Ferguson in the third quarter worth about $112,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Ferguson during the 3rd quarter valued at about $66,000. Franklin Resources Inc. increased its position in shares of Ferguson by 6.0% during the 3rd quarter. Franklin Resources Inc. now owns 2,371,954 shares of the company's stock valued at $477,858,000 after purchasing an additional 133,769 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in shares of Ferguson by 9.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 518,867 shares of the company's stock worth $103,031,000 after purchasing an additional 46,947 shares during the period. Hedge funds and other institutional investors own 81.98% of the company's stock.

Ferguson Price Performance

Shares of FERG traded up $0.21 during midday trading on Friday, hitting $169.73. 1,471,321 shares of the company traded hands, compared to its average volume of 1,579,856. The stock has a market cap of $33.94 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.69 and a beta of 1.17. The firm has a 50 day moving average of $164.79 and a 200-day moving average of $182.29. 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 plc has a 52 week low of $146.00 and a 52 week high of $225.63.

Ferguson (NASDAQ:FERG - Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The company reported $1.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 period in the previous year, the firm earned $1.74 EPS. The business's revenue was up 3.0% compared to the same quarter last year. On average, analysts forecast that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, March 21st will be issued a $0.83 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.96%. Ferguson's dividend payout ratio (DPR) is presently 40.84%.

Analysts Set New Price Targets

Several brokerages recently issued reports on FERG. JPMorgan Chase & Co. cut their target price on shares of Ferguson from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Wednesday, March 19th. Zelman & Associates downgraded shares of Ferguson from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 17th. Barclays decreased their target price on Ferguson from $211.00 to $190.00 and set an "overweight" rating on the stock in a report on Wednesday, March 12th. Robert W. Baird set a $190.00 price target on Ferguson and gave the company an "outperform" rating in a report on Wednesday, March 12th. Finally, Morgan Stanley assumed coverage on Ferguson in a research note on Monday, February 3rd. They issued an "overweight" rating and a $204.00 price objective on the stock. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.