Ferguson plc (NASDAQ:FERG) Shares Acquired by Suvretta Capital Management LLC

Suvretta Capital Management LLC raised its stake in Ferguson plc (NASDAQ:FERG - Free Report) by 9.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 245,530 shares of the company's stock after acquiring an additional 20,320 shares during the quarter. Ferguson makes up 1.5% of Suvretta Capital Management LLC's portfolio, making the stock its 21st biggest holding. Suvretta Capital Management LLC owned approximately 0.12% of Ferguson worth $42,617,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in FERG. Charles Schwab Investment Management Inc. raised its stake in Ferguson by 7.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 778,737 shares of the company's stock valued at $135,247,000 after purchasing an additional 52,776 shares during the last quarter. New York Life Investment Management LLC purchased a new stake in shares of Ferguson during the fourth quarter worth about $587,000. Markel Group Inc. raised its position in shares of Ferguson by 25.4% in the fourth quarter. Markel Group Inc. now owns 106,000 shares of the company's stock valued at $18,398,000 after buying an additional 21,500 shares during the last quarter. PFG Investments LLC purchased a new position in shares of Ferguson during the fourth quarter valued at approximately $467,000. Finally, Brentview Investment Management LLC purchased a new position in shares of Ferguson during the fourth quarter valued at approximately $4,255,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Citigroup lowered their target price 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 lowered their price objective on Ferguson from $211.00 to $190.00 and set an "overweight" rating for the company in a research report on Wednesday, March 12th. Morgan Stanley started coverage on Ferguson in a research report on Monday, February 3rd. They set an "overweight" rating and a $204.00 target price on the stock. Oppenheimer decreased their price target on Ferguson from $234.00 to $189.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 12th. Finally, JPMorgan Chase & Co. lowered their price target on Ferguson from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Wednesday, March 19th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $199.38.

Ferguson Trading Down 0.6%

NASDAQ FERG traded down $1.08 during mid-day trading on Tuesday, hitting $182.12. The company's stock had a trading volume of 767,463 shares, compared to its average volume of 1,617,365. The firm has a market capitalization of $36.41 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 1.69 and a beta of 1.14. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. Ferguson plc has a 52-week low of $146.00 and a 52-week high of $225.63. The stock's fifty day simple moving average is $165.68 and its two-hundred day simple moving average is $179.27.

Ferguson (NASDAQ:FERG - Get Free Report) last issued its earnings results on Tuesday, March 11th. The company reported $1.52 EPS for the quarter, missing analysts' consensus estimates of $1.58 by ($0.06). Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The business had revenue of $6.87 billion during the quarter, compared to analysts' expectations of $6.76 billion. During the same period in the prior year, the business posted $1.74 EPS. The business's revenue was up 3.0% on a year-over-year basis. Research analysts expect that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Friday, March 21st were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Friday, March 21st. Ferguson's dividend payout ratio (DPR) is presently 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.