Principal Financial Group Inc. Has $4.18 Million Holdings in Ferguson plc (NASDAQ:FERG)

Principal Financial Group Inc. decreased its position in shares of Ferguson plc (NASDAQ:FERG) by 4.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,104 shares of the company’s stock after selling 1,120 shares during the quarter. Principal Financial Group Inc.’s holdings in Ferguson were worth $4,183,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in FERG. Norges Bank acquired a new stake in shares of Ferguson in the fourth quarter valued at about $469,730,000. Barclays PLC boosted its stake in Ferguson by 208.8% in the 4th quarter. Barclays PLC now owns 2,678,880 shares of the company’s stock valued at $464,973,000 after purchasing an additional 1,811,287 shares during the period. FMR LLC boosted its holdings in Ferguson by 18.2% in the 4th quarter. FMR LLC now owns 10,007,892 shares of the company’s stock valued at $1,740,049,000 after purchasing an additional 1,539,889 shares during the period. Schroder Investment Management Group bought a new stake in shares of Ferguson during the 4th quarter valued at $239,539,000. Finally, Invesco Ltd. raised its stake in Ferguson by 25.9% in the fourth quarter. Invesco Ltd. now owns 5,991,445 shares of the company’s stock valued at $1,039,935,000 after purchasing an additional 1,231,120 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Trading Up 0.9%

NASDAQ:FERG opened at $219.12 on Friday. The firm has a fifty day simple moving average of $204.72 and a 200-day simple moving average of $182.37. The company has a market capitalization of $43.21 billion, a P/E ratio of 26.31, 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. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $226.63.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The business’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.32 earnings per share. On average, equities research analysts anticipate that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Friday, June 20th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Friday, June 20th. Ferguson’s payout ratio is currently 41.40%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FERG shares. JPMorgan Chase & Co. raised their price target on shares of Ferguson from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, June 6th. Berenberg Bank reaffirmed a “hold” rating and set a $215.00 price target on shares of Ferguson in a research note on Thursday, June 5th. Morgan Stanley reissued an “overweight” rating and issued a $220.00 price target (up previously from $195.00) on shares of Ferguson in a research note on Monday, June 9th. The Goldman Sachs Group started coverage on shares of Ferguson in a research report on Wednesday, June 18th. They issued a “buy” rating and a $280.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective on Ferguson from $230.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.64.

Ferguson Company 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.