Ferguson plc (NASDAQ:FERG) Shares Acquired by Third Point LLC

Third Point LLC boosted its position in Ferguson plc (NASDAQ:FERG - Free Report) by 24.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,200,000 shares of the company's stock after purchasing an additional 235,000 shares during the period. Ferguson comprises approximately 2.8% of Third Point LLC's holdings, making the stock its 14th largest position. Third Point LLC owned about 0.60% of Ferguson worth $208,284,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in FERG. Manchester Capital Management LLC lifted its position in shares of Ferguson by 906.7% during the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company's stock valued at $26,000 after acquiring an additional 136 shares during the period. Berbice Capital Management LLC acquired a new position in Ferguson during the fourth quarter worth $35,000. Private Trust Co. NA grew its holdings in Ferguson by 92.5% in the fourth quarter. Private Trust Co. NA now owns 258 shares of the company's stock valued at $45,000 after purchasing an additional 124 shares during the last quarter. R Squared Ltd purchased a new position in shares of Ferguson in the fourth quarter valued at $45,000. Finally, Assetmark Inc. raised its stake in shares of Ferguson by 41.1% during the 4th 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. Hedge funds and other institutional investors own 81.98% of the company's stock.

Ferguson Trading Down 1.6 %

Shares of FERG traded down $2.76 during mid-day trading on Tuesday, reaching $169.62. The company had a trading volume of 324,062 shares, compared to its average volume of 1,587,146. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $225.63. The firm has a fifty day simple moving average of $164.10 and a 200-day simple moving average of $180.76. The stock has a market cap of $33.91 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 1.69 and a beta of 1.14. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $6.87 billion for the quarter, compared to analysts' expectations of $6.76 billion. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. Ferguson's revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm posted $1.74 EPS. On average, sell-side analysts anticipate that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $3.32 annualized dividend and a yield of 1.96%. Ferguson's dividend payout ratio is currently 40.84%.

Analysts Set New Price Targets

FERG has been the subject of a number of recent research reports. Morgan Stanley began coverage on shares of Ferguson in a research note on Monday, February 3rd. They set an "overweight" rating and a $204.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on Ferguson in a research report on Tuesday, April 1st. They set a "hold" rating and a $174.00 price target for the company. Royal Bank of Canada restated an "outperform" rating and issued a $189.00 price objective on shares of Ferguson in a research report on Tuesday, March 18th. Robert W. Baird set a $190.00 price objective on Ferguson and gave the company an "outperform" rating in a research note on Wednesday, March 12th. Finally, UBS Group reissued a "neutral" rating and issued a $193.00 target price (down previously from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $199.38.

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.