Deutsche Bank AG Decreases Stake in Ferguson plc (NASDAQ:FERG)

Posted by on Jun 11th, 2023

Deutsche Bank AG reduced its stake in shares of Ferguson plc (NASDAQ:FERG – Get Rating) by 49.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 449,691 shares of the company’s stock after selling 433,031 shares during the period. Deutsche Bank AG’s holdings in Ferguson were worth $57,097,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in FERG. Column Capital Advisors LLC boosted its position in shares of Ferguson by 162.2% in the 4th quarter. Column Capital Advisors LLC now owns 333 shares of the company’s stock worth $42,000 after buying an additional 206 shares in the last quarter. Ronald Blue Trust Inc. boosted its position in shares of Ferguson by 98.4% in the 4th quarter. Ronald Blue Trust Inc. now owns 758 shares of the company’s stock worth $78,000 after buying an additional 376 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Ferguson by 13.0% in the 3rd quarter. IFP Advisors Inc now owns 1,159 shares of the company’s stock worth $85,000 after buying an additional 133 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of Ferguson in the 4th quarter worth about $144,000. Finally, Advisors Asset Management Inc. boosted its position in shares of Ferguson by 17.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,511 shares of the company’s stock worth $156,000 after buying an additional 219 shares in the last quarter. 52.19% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Stock Performance

NASDAQ FERG opened at $144.57 on Friday. Ferguson plc has a 12 month low of $99.16 and a 12 month high of $151.00. The company has a 50-day moving average of $139.53 and a 200-day moving average of $136.13. The company has a quick ratio of 0.94, a current ratio of 1.78 and a debt-to-equity ratio of 0.83.

Ferguson (NASDAQ:FERG – Get Rating) last issued its earnings results on Tuesday, June 6th. The company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.04. Ferguson had a return on equity of 42.96% and a net margin of 6.31%. The business had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $7.09 billion. During the same quarter in the previous year, the business earned $2.50 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, analysts anticipate that Ferguson plc will post 9.58 earnings per share for the current year.

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 4th. Stockholders of record on Friday, June 16th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, June 15th. Ferguson’s payout ratio is currently 33.37%.

Analysts Set New Price Targets

FERG has been the topic of several recent research reports. Societe Generale lowered shares of Ferguson to a “hold” rating in a research report on Monday, March 13th. Jefferies Financial Group raised shares of Ferguson from a “hold” rating to a “buy” rating in a research note on Tuesday, May 9th. TheStreet raised shares of Ferguson from a “c” rating to a “b-” rating in a research note on Tuesday. UBS Group assumed coverage on shares of Ferguson in a research note on Thursday, May 4th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Ferguson from $150.00 to $155.00 in a research note on Thursday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $6,063.10.

About Ferguson

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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.

See Also

Institutional Ownership by Quarter for Ferguson (NASDAQ:FERG)

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