Swiss Life Asset Management Ltd Raises Position in Ferguson plc $FERG

Swiss Life Asset Management Ltd lifted its position in Ferguson plc (NYSE:FERG) by 68.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 82,169 shares of the company’s stock after buying an additional 33,245 shares during the period. Swiss Life Asset Management Ltd’s holdings in Ferguson were worth $18,454,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. CIBC Private Wealth Group LLC raised its stake in shares of Ferguson by 7.9% in the third quarter. CIBC Private Wealth Group LLC now owns 1,075 shares of the company’s stock worth $241,000 after purchasing an additional 79 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in Ferguson during the third quarter valued at approximately $1,588,000. Alpine Global Management LLC bought a new stake in Ferguson in the 3rd quarter worth approximately $511,000. Caerus Investment Advisors LLC bought a new stake in Ferguson in the 3rd quarter worth approximately $268,000. Finally, Captrust Financial Advisors raised its stake in Ferguson by 1.9% during the 3rd quarter. Captrust Financial Advisors now owns 218,961 shares of the company’s stock valued at $49,174,000 after buying an additional 4,180 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada raised their price target on Ferguson from $247.00 to $271.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Barclays upped their price objective on Ferguson from $278.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Robert W. Baird raised their target price on Ferguson from $262.00 to $265.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 10th. Morgan Stanley restated an “overweight” rating on shares of Ferguson in a research note on Tuesday, January 6th. Finally, Truist Financial upped their price target on shares of Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $268.93.

Ferguson Price Performance

NYSE FERG opened at $217.83 on Friday. The business’s fifty day moving average is $248.52 and its 200 day moving average is $240.07. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $271.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88. The company has a market capitalization of $42.34 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 1.80 and a beta of 1.17.

Ferguson (NYSE:FERG) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.99 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.25). Ferguson had a return on equity of 40.37% and a net margin of 6.93%.During the same period in the previous year, the firm posted $1.52 earnings per share. Ferguson’s quarterly revenue was up 3.6% compared to the same quarter last year.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Friday, March 6th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, March 6th. Ferguson’s dividend payout ratio is presently 35.96%.

About Ferguson

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.