Findlay Park Partners LLP lowered its position in shares of Ferguson plc (NASDAQ:FERG – Get Rating) by 8.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,110,352 shares of the company’s stock after selling 274,589 shares during the quarter. Ferguson comprises about 4.3% of Findlay Park Partners LLP’s portfolio, making the stock its 4th largest holding. Findlay Park Partners LLP’s holdings in Ferguson were worth $394,921,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FERG. Dakota Wealth Management lifted its holdings in shares of Ferguson by 3.0% in the 3rd quarter. Dakota Wealth Management now owns 2,913 shares of the company’s stock valued at $305,000 after buying an additional 86 shares during the period. Verdence Capital Advisors LLC raised its holdings in Ferguson by 1.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 5,579 shares of the company’s stock worth $574,000 after purchasing an additional 87 shares during the period. Financial Gravity Asset Management Inc. acquired a new position in Ferguson in the 3rd quarter worth about $32,000. Connable Office Inc. raised its holdings in Ferguson by 1.8% in the 4th quarter. Connable Office Inc. now owns 5,756 shares of the company’s stock worth $731,000 after purchasing an additional 104 shares during the period. Finally, MML Investors Services LLC raised its holdings in Ferguson by 1.6% in the 3rd quarter. MML Investors Services LLC now owns 7,984 shares of the company’s stock worth $822,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 52.19% of the company’s stock.
Analyst Upgrades and Downgrades
FERG has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Ferguson in a report on Wednesday, March 8th. UBS Group assumed coverage on Ferguson in a research note on Thursday, May 4th. They set a “buy” rating for the company. Jefferies Financial Group upgraded Ferguson from a “hold” rating to a “buy” rating in a research note on Tuesday, May 9th. Societe Generale lowered Ferguson to a “hold” rating in a research report on Monday, March 13th. Finally, JPMorgan Chase & Co. assumed coverage on Ferguson in a research report on Monday, March 20th. They issued an “overweight” rating for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8,257.20.
Ferguson Price Performance
Ferguson (NASDAQ:FERG – Get Rating) last announced its quarterly earnings data on Tuesday, March 7th. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.07. The business had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.63 billion. Ferguson had a return on equity of 45.56% and a net margin of 6.98%. As a group, equities research analysts expect that Ferguson plc will post 9.52 EPS for the current year.
Ferguson Dividend Announcement
The firm also recently announced a semi-annual dividend, which was paid on Friday, May 5th. Investors of record on Friday, March 17th were issued a $0.75 dividend. This represents a yield of 2.5%. The ex-dividend date was Thursday, March 16th. Ferguson’s dividend payout ratio (DPR) is presently 30.43%.
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.
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