APG Asset Management N.V. Sells 2,467,115 Shares of Ferguson plc (NASDAQ:FERG)

APG Asset Management N.V. lowered its position in Ferguson plc (NASDAQ:FERG) by 52.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,248,816 shares of the company’s stock after selling 2,467,115 shares during the period. Ferguson accounts for about 1.0% of APG Asset Management N.V.’s holdings, making the stock its 16th biggest position. APG Asset Management N.V. owned approximately 1.12% of Ferguson worth $376,951,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Manchester Capital Management LLC raised its position in shares of Ferguson by 906.7% during 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 during the period. Berbice Capital Management LLC acquired a new position in Ferguson during the fourth quarter worth $35,000. R Squared Ltd bought a new position in shares of Ferguson in the fourth quarter valued at $45,000. Private Trust Co. NA lifted its stake in shares of 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 buying an additional 124 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Ferguson by 41.1% during the fourth quarter. Assetmark Inc. now owns 333 shares of the company’s stock valued at $58,000 after buying an additional 97 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FERG. Oppenheimer cut their price target on Ferguson from $234.00 to $189.00 and set an “outperform” rating for the company in a research note on Wednesday, March 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $189.00 target price on shares of Ferguson in a research report on Tuesday, March 18th. Zelman & Associates lowered Ferguson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 17th. Citigroup cut their price objective on shares of Ferguson from $189.00 to $168.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Finally, Wells Fargo & Company lowered their target price on shares of Ferguson from $205.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Ferguson presently has an average rating of “Moderate Buy” and an average price target of $198.62.

Ferguson Trading Down 2.3 %

Shares of FERG stock opened at $152.05 on Tuesday. 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 firm has a market cap of $30.40 billion, a P/E ratio of 18.25, a PEG ratio of 1.69 and a beta of 1.17. The company has a 50 day moving average of $171.04 and a 200-day moving average of $185.94. Ferguson plc has a 12-month low of $146.15 and a 12-month high of $225.63.

Ferguson (NASDAQ:FERG) last released its 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). Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The firm 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 earned $1.74 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Sell-side analysts anticipate that Ferguson plc will post 9.4 earnings per share for the current 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 issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 2.18%. The ex-dividend date is Friday, March 21st. Ferguson’s dividend payout ratio (DPR) is presently 40.84%.

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.