Massachusetts Financial Services Co. MA Grows Stock Position in Ferguson plc (NASDAQ:FERG)

Massachusetts Financial Services Co. MA increased its stake in shares of Ferguson plc (NASDAQ:FERG) by 1,137.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 89,826 shares of the company’s stock after purchasing an additional 82,568 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Ferguson were worth $15,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FERG. Manchester Capital Management LLC lifted its stake in shares of Ferguson by 906.7% in the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock worth $26,000 after acquiring an additional 136 shares during the period. Berbice Capital Management LLC purchased a new position in Ferguson during the fourth quarter worth about $35,000. R Squared Ltd acquired a new stake in Ferguson in the fourth quarter valued at about $45,000. Private Trust Co. NA boosted its holdings in Ferguson by 92.5% in the 4th quarter. Private Trust Co. NA now owns 258 shares of the company’s stock valued at $45,000 after purchasing an additional 124 shares in the last quarter. Finally, Assetmark Inc. increased its position in Ferguson by 41.1% during the 4th quarter. Assetmark Inc. now owns 333 shares of the company’s stock worth $58,000 after purchasing an additional 97 shares during the period. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Trading Down 2.0 %

Shares of FERG opened at $155.22 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. Ferguson plc has a 1-year low of $145.10 and a 1-year high of $225.63. The stock has a market cap of $31.04 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17. The firm has a 50 day simple moving average of $171.69 and a 200-day simple moving average of $186.33.

Ferguson (NASDAQ:FERG) last released its quarterly earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share 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 company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.76 billion. During the same period last year, the firm earned $1.74 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. Equities analysts forecast that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Announces Dividend

The company also recently declared 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 is Friday, March 21st. This represents a $3.32 annualized dividend and a dividend yield of 2.14%. Ferguson’s dividend payout ratio is currently 40.84%.

Analysts Set New Price Targets

Several research firms have recently commented on FERG. Zelman & Associates cut Ferguson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 17th. Bank of America upgraded shares of Ferguson from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $185.00 to $225.00 in a research report on Wednesday, January 8th. Citigroup lowered their price target on shares of Ferguson from $189.00 to $168.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. Wells Fargo & Company reduced their price objective on shares of Ferguson from $205.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Finally, Oppenheimer lowered their target price on shares of Ferguson from $234.00 to $189.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 12th. Five equities research 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.com, Ferguson has an average rating of “Moderate Buy” and a consensus price target of $198.62.

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.