Canada Pension Plan Investment Board Reduces Holdings in Ferguson plc (NASDAQ:FERG)

Canada Pension Plan Investment Board lowered its stake in shares of Ferguson plc (NASDAQ:FERG) by 21.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,638 shares of the company’s stock after selling 49,578 shares during the quarter. Canada Pension Plan Investment Board owned about 0.09% of Ferguson worth $30,833,000 as of its most recent SEC filing.

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

Ferguson Stock Performance

FERG opened at $164.28 on Friday. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $225.63. The firm has a market capitalization of $32.85 billion, a PE ratio of 19.72, a PEG ratio of 1.69 and a beta of 1.17. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The firm’s 50-day moving average price is $166.66 and its 200 day moving average price is $183.21.

Ferguson (NASDAQ:FERG) last posted its quarterly 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). The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.76 billion. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. Ferguson’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $1.74 earnings per share. As a group, sell-side analysts expect that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The company also recently disclosed 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. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, March 21st. Ferguson’s dividend payout ratio is currently 40.84%.

Wall Street Analysts Forecast Growth

Several research firms have commented on FERG. UBS Group reaffirmed a “neutral” rating and issued a $193.00 price target (down from $230.00) on shares of Ferguson in a report on Wednesday, January 8th. Citigroup decreased their price target on Ferguson from $189.00 to $168.00 and set a “neutral” rating for the company in a report on Wednesday, March 12th. Zelman & Associates lowered shares of Ferguson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 17th. Wells Fargo & Company raised their price target on shares of Ferguson from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, April 14th. Finally, Barclays lowered their target price on shares of Ferguson from $211.00 to $190.00 and set an “overweight” rating on the stock in a research note 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.38.

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.