Natixis Advisors L.P. lessened its stake in Ferguson plc (NASDAQ:FERG – Get Rating) by 38.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 121,471 shares of the company’s stock after selling 75,953 shares during the period. Natixis Advisors L.P. owned about 0.05% of Ferguson worth $15,423,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Findlay Park Partners LLP bought a new stake in shares of Ferguson during the 3rd quarter valued at about $348,412,000. Boston Partners raised its stake in Ferguson by 5,334.1% during the 3rd quarter. Boston Partners now owns 1,214,520 shares of the company’s stock worth $125,033,000 after buying an additional 1,192,170 shares during the period. Third Point LLC acquired a new position in Ferguson during the 3rd quarter worth approximately $95,210,000. Empyrean Capital Partners LP acquired a new position in Ferguson during the 3rd quarter worth approximately $89,271,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Ferguson by 51.0% in the third quarter. Bank of New York Mellon Corp now owns 2,094,384 shares of the company’s stock worth $215,575,000 after purchasing an additional 707,774 shares during the last quarter. Institutional investors own 52.19% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently commented on the company. JPMorgan Chase & Co. assumed coverage on Ferguson in a research note on Monday, March 20th. They issued an “overweight” rating for the company. Barclays lifted their target price on Ferguson from $148.00 to $159.00 in a research note on Wednesday, December 14th. Berenberg Bank lifted their price objective on Ferguson from £114 ($141.18) to £128 ($158.51) in a report on Wednesday, January 11th. Bank of America lowered Ferguson from a “buy” rating to a “neutral” rating in a report on Wednesday, January 11th. Finally, Societe Generale lowered Ferguson to a “hold” rating in a report on Monday, March 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Ferguson presently has an average rating of “Hold” and an average price target of $8,448.82.
Ferguson Stock Performance
Ferguson (NASDAQ:FERG – Get Rating) last posted its earnings results 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 net margin of 6.98% and a return on equity of 45.56%. As a group, sell-side analysts predict that Ferguson plc will post 9.26 earnings per share for the current year.
Ferguson Dividend Announcement
The business also recently announced a semi-annual dividend, which will be paid on Friday, May 5th. Shareholders of record on Friday, March 17th will be paid a dividend of $0.75 per share. This represents a yield of 2.5%. The ex-dividend date is Thursday, March 16th. Ferguson’s dividend payout ratio is currently 30.43%.
Ferguson 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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