Nordea Investment Management AB Boosts Stake in Ferguson plc (NASDAQ:FERG)

Nordea Investment Management AB raised its position in Ferguson plc (NASDAQ:FERGFree Report) by 700.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 146,281 shares of the company’s stock after buying an additional 128,005 shares during the period. Nordea Investment Management AB owned 0.07% of Ferguson worth $32,109,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FERG. Richardson Financial Services Inc. purchased a new stake in Ferguson in the 4th quarter valued at about $25,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Ferguson during the 4th quarter worth approximately $29,000. Venturi Wealth Management LLC increased its stake in shares of Ferguson by 60.0% during the 1st quarter. Venturi Wealth Management LLC now owns 136 shares of the company’s stock worth $30,000 after purchasing an additional 51 shares during the last quarter. CVA Family Office LLC purchased a new stake in shares of Ferguson during the 4th quarter worth approximately $31,000. Finally, Private Trust Co. NA increased its stake in shares of Ferguson by 146.1% during the 4th quarter. Private Trust Co. NA now owns 187 shares of the company’s stock worth $36,000 after purchasing an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Down 0.8 %

FERG opened at $189.21 on Tuesday. The company has a 50 day moving average of $204.74 and a 200 day moving average of $203.34. The company has a market cap of $38.21 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 7.97 and a beta of 1.22. Ferguson plc has a 12 month low of $147.62 and a 12 month high of $224.86. The company has a current ratio of 1.68, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64.

Ferguson (NASDAQ:FERGGet Free Report) last released its quarterly earnings data on Tuesday, June 4th. The company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.27 by $0.05. Ferguson had a net margin of 6.33% and a return on equity of 36.89%. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.32 billion. During the same period last year, the firm earned $2.20 EPS. Ferguson’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, sell-side analysts expect that Ferguson plc will post 9.66 EPS for the current year.

Ferguson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 14th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 1.67%. The ex-dividend date is Friday, June 14th. Ferguson’s payout ratio is 34.54%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays decreased their price target on shares of Ferguson from $236.00 to $232.00 and set an “overweight” rating for the company in a research note on Wednesday, June 5th. Royal Bank of Canada cut their price objective on shares of Ferguson from $217.00 to $211.00 and set an “outperform” rating for the company in a report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $221.50.

Get Our Latest Report on Ferguson

Ferguson Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ferguson (NASDAQ:FERG)

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