Mitsubishi UFJ Asset Management Co. Ltd. Buys 31,245 Shares of Ferguson plc (NASDAQ:FERG)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Ferguson plc (NASDAQ:FERG) by 23.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 167,324 shares of the company’s stock after purchasing an additional 31,245 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Ferguson were worth $29,156,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. True Wealth Design LLC raised its stake in Ferguson by 1,350.0% during the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after acquiring an additional 135 shares during the period. Manchester Capital Management LLC increased its stake in shares of Ferguson by 906.7% in the fourth quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock worth $26,000 after purchasing an additional 136 shares in the last quarter. Berbice Capital Management LLC bought a new stake in shares of Ferguson during the 4th quarter valued at $35,000. Private Trust Co. NA lifted its stake in shares of Ferguson by 92.5% during the 4th quarter. Private Trust Co. NA now owns 258 shares of the company’s stock valued at $45,000 after buying an additional 124 shares in the last quarter. Finally, R Squared Ltd bought a new position in Ferguson in the 4th quarter worth $45,000. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Stock Performance

Shares of NASDAQ:FERG opened at $160.63 on Monday. The firm has a fifty day simple moving average of $173.86 and a two-hundred day simple moving average of $187.70. Ferguson plc has a 52 week low of $152.52 and a 52 week high of $225.63. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $32.12 billion, a P/E ratio of 19.28, a PEG ratio of 1.69 and a beta of 1.28.

Ferguson (NASDAQ:FERG) last released its quarterly earnings results on Tuesday, March 11th. The company reported $1.52 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 company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.76 billion. During the same quarter in the prior year, the business posted $1.74 EPS. The company’s revenue was up 3.0% on a year-over-year basis. On average, analysts expect that Ferguson plc will post 9.4 earnings per share 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 given 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 yield of 2.07%. Ferguson’s dividend payout ratio is presently 40.84%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wells Fargo & Company decreased their price target on Ferguson from $205.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. JPMorgan Chase & Co. decreased their target price on Ferguson from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 19th. Berenberg Bank upped their price target on Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Morgan Stanley initiated coverage on shares of Ferguson in a research report on Monday, February 3rd. They set an “overweight” rating and a $204.00 price objective on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $189.00 target price on shares of Ferguson in a research report on Tuesday, March 18th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $200.67.

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.