APG Asset Management N.V. Decreases Stake in Ferguson plc $FERG

APG Asset Management N.V. cut its stake in shares of Ferguson plc (NYSE:FERG) by 11.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,029,518 shares of the company’s stock after selling 266,770 shares during the quarter. Ferguson comprises approximately 0.8% of APG Asset Management N.V.’s investment portfolio, making the stock its 13th biggest holding. APG Asset Management N.V. owned 1.04% of Ferguson worth $455,789,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Cornerstone Planning Group LLC lifted its position in Ferguson by 178.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock worth $31,000 after acquiring an additional 82 shares during the period. True Wealth Design LLC raised its stake in shares of Ferguson by 145.3% in the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock worth $28,000 after purchasing an additional 77 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of Ferguson during the third quarter worth about $43,000. AdvisorShares Investments LLC purchased a new stake in Ferguson in the second quarter valued at approximately $58,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Ferguson by 21.7% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 292 shares of the company’s stock valued at $66,000 after buying an additional 52 shares during the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Ferguson from $237.00 to $246.00 and gave the stock a “hold” rating in a research report on Thursday, December 11th. Jefferies Financial Group reiterated a “buy” rating and issued a $300.00 price objective on shares of Ferguson in a research note on Tuesday. Truist Financial boosted their target price on shares of Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday. Wall Street Zen lowered shares of Ferguson from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Ferguson in a research note on Tuesday, January 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Ferguson presently has an average rating of “Moderate Buy” and a consensus target price of $262.62.

Ferguson Trading Down 1.6%

FERG stock opened at $260.62 on Friday. Ferguson plc has a 52-week low of $146.00 and a 52-week high of $271.64. The company has a quick ratio of 1.01, a current ratio of 1.88 and a debt-to-equity ratio of 0.68. The firm has a market cap of $50.96 billion, a P/E ratio of 26.33, a PEG ratio of 2.13 and a beta of 1.18. The company’s 50-day simple moving average is $247.14 and its 200-day simple moving average is $240.14.

Ferguson (NYSE:FERG) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.25). Ferguson had a return on equity of 35.73% and a net margin of 6.28%.During the same period in the previous year, the company posted $1.52 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Friday, March 6th will be given a dividend of $0.89 per share. The ex-dividend date is Friday, March 6th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.4%. Ferguson’s dividend payout ratio (DPR) is 35.96%.

Ferguson Company Profile

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.