KLP Kapitalforvaltning AS Purchases Shares of 68,444 Ferguson plc (NASDAQ:FERG)

KLP Kapitalforvaltning AS acquired a new position in shares of Ferguson plc (NASDAQ:FERG) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 68,444 shares of the company’s stock, valued at approximately $11,929,000.

Other large investors have also recently made changes to their positions in the company. Mutual of America Capital Management LLC purchased a new stake in Ferguson during the third quarter worth approximately $702,000. Commerce Bank lifted its position in shares of Ferguson by 3.8% during the 3rd quarter. Commerce Bank now owns 2,666 shares of the company’s stock worth $529,000 after buying an additional 97 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Ferguson in the 3rd quarter valued at $6,833,000. Intech Investment Management LLC purchased a new position in shares of Ferguson in the 3rd quarter valued at $1,011,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Ferguson by 19.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 725,961 shares of the company’s stock worth $143,983,000 after acquiring an additional 117,226 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on FERG shares. Berenberg Bank boosted their target price on Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. 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. JPMorgan Chase & Co. lowered their target price 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. UBS Group reiterated a “neutral” rating and issued a $193.00 price target (down previously from $230.00) on shares of Ferguson in a research report on Wednesday, January 8th. Finally, Bank of America raised shares of Ferguson from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $185.00 to $225.00 in a research report on Wednesday, January 8th. Four equities research 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 has a consensus rating of “Moderate Buy” and a consensus price target of $200.67.

Ferguson Stock Up 1.3 %

Shares of NASDAQ FERG opened at $164.37 on Tuesday. The stock has a fifty day moving average price of $174.89 and a 200 day moving average price of $188.40. The company has a market cap of $32.87 billion, a P/E ratio of 19.73, a P/E/G ratio of 1.69 and a beta of 1.28. Ferguson plc has a 12-month low of $152.52 and a 12-month high of $225.63. 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) last announced its earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.06). Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.76 billion. During the same quarter last year, the company posted $1.74 earnings per share. Ferguson’s revenue for the quarter was up 3.0% compared to the same quarter last year. Research analysts anticipate that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, March 21st will be issued a $0.83 dividend. The ex-dividend date is Friday, March 21st. This represents a $3.32 annualized dividend and a yield of 2.02%. Ferguson’s dividend payout ratio 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.