CIBC Private Wealth Group LLC Has $4.32 Million Stock Holdings in Ferguson plc (NASDAQ:FERG)

CIBC Private Wealth Group LLC raised its position in Ferguson plc (NASDAQ:FERG) by 2,552.8% in the 4th quarter, Holdings Channel reports. The firm owned 25,122 shares of the company’s stock after buying an additional 24,175 shares during the period. CIBC Private Wealth Group LLC’s holdings in Ferguson were worth $4,321,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of FERG. State Street Corp increased its position in shares of Ferguson by 3.7% in the 3rd quarter. State Street Corp now owns 4,541,079 shares of the company’s stock valued at $905,230,000 after buying an additional 161,662 shares in the last quarter. Parnassus Investments LLC increased its holdings in shares of Ferguson by 944.4% in the fourth quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company’s stock worth $613,944,000 after acquiring an additional 3,198,477 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Ferguson by 0.8% during the third quarter. Geode Capital Management LLC now owns 3,197,621 shares of the company’s stock worth $633,409,000 after purchasing an additional 25,677 shares during the period. Pictet Asset Management Holding SA lifted its holdings in shares of Ferguson by 7.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,804,595 shares of the company’s stock valued at $486,814,000 after purchasing an additional 192,052 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Ferguson in the 4th quarter valued at approximately $469,730,000. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Price Performance

NASDAQ:FERG opened at $160.61 on Wednesday. The stock has a market capitalization of $32.11 billion, a PE ratio of 19.28, a P/E/G ratio of 1.69 and a beta of 1.28. Ferguson plc has a 1-year low of $152.52 and a 1-year high of $225.63. The firm has a fifty day simple moving average of $173.08 and a 200 day simple moving average of $187.26. 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 quarterly earnings data on Tuesday, March 11th. The company reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.06). The firm had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.76 billion. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the business earned $1.74 EPS. On average, research analysts expect that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Announces Dividend

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 $0.83 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $3.32 annualized dividend and a yield of 2.07%. Ferguson’s dividend payout ratio is 40.84%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. UBS Group reaffirmed a “neutral” rating and issued a $193.00 price target (down previously from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Morgan Stanley started coverage on shares of Ferguson in a research note on Monday, February 3rd. They issued an “overweight” rating and a $204.00 target price for the company. Berenberg Bank lifted their price target on Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. reduced their price objective on Ferguson from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, March 19th. Finally, Barclays dropped their target price on Ferguson from $211.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Five 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 presently has an average rating of “Moderate Buy” and an average price target of $198.62.

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.