AMF Tjanstepension AB Decreases Position in Ferguson plc $FERG

AMF Tjanstepension AB cut its stake in shares of Ferguson plc (NASDAQ:FERG) by 92.2% during the second quarter, HoldingsChannel reports. The firm owned 4,379 shares of the company’s stock after selling 52,003 shares during the quarter. AMF Tjanstepension AB’s holdings in Ferguson were worth $954,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Fifth Third Bancorp raised its holdings in shares of Ferguson by 230.8% in the second quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock worth $37,000 after buying an additional 120 shares during the period. Maseco LLP purchased a new stake in shares of Ferguson in the second quarter worth approximately $40,000. Grove Bank & Trust raised its holdings in shares of Ferguson by 247.4% in the first quarter. Grove Bank & Trust now owns 198 shares of the company’s stock worth $32,000 after buying an additional 141 shares during the period. TD Private Client Wealth LLC raised its holdings in shares of Ferguson by 56.5% in the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company’s stock worth $33,000 after buying an additional 74 shares during the period. Finally, Brooklyn Investment Group raised its holdings in shares of Ferguson by 103.6% in the first quarter. Brooklyn Investment Group now owns 226 shares of the company’s stock worth $36,000 after buying an additional 115 shares during the period. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Stock Performance

Shares of FERG opened at $231.93 on Friday. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $243.40. The stock has a fifty day moving average price of $228.25 and a 200-day moving average price of $202.90. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The firm has a market cap of $45.49 billion, a PE ratio of 27.84, a P/E/G ratio of 1.69 and a beta of 1.17.

Ferguson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, September 26th. Ferguson’s dividend payout ratio is currently 35.55%.

Analyst Ratings Changes

FERG has been the topic of several recent analyst reports. Robert W. Baird increased their price target on Ferguson from $260.00 to $262.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Morgan Stanley reiterated an “overweight” rating on shares of Ferguson in a report on Wednesday, September 10th. JPMorgan Chase & Co. increased their price target on Ferguson from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. The Goldman Sachs Group assumed coverage on Ferguson in a report on Wednesday, June 18th. They issued a “buy” rating and a $280.00 price target on the stock. Finally, Wells Fargo & Company increased their price objective on Ferguson from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 17th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Ferguson presently has a consensus rating of “Moderate Buy” and an average target price of $235.71.

About Ferguson

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.