Foxhaven Asset Management LP Increases Stock Holdings in Ferguson plc (NASDAQ:FERG)

Foxhaven Asset Management LP raised its holdings in shares of Ferguson plc (NASDAQ:FERG) by 12.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,490,696 shares of the company’s stock after purchasing an additional 162,651 shares during the quarter. Ferguson accounts for approximately 6.9% of Foxhaven Asset Management LP’s investment portfolio, making the stock its 5th largest holding. Foxhaven Asset Management LP owned approximately 0.75% of Ferguson worth $258,740,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Barclays PLC grew its stake in Ferguson by 76.9% in the 3rd quarter. Barclays PLC now owns 867,593 shares of the company’s stock worth $172,281,000 after acquiring an additional 377,283 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Ferguson during the 3rd quarter worth $66,000. First Hawaiian Bank bought a new stake in Ferguson during the 4th quarter valued at $342,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Ferguson by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,834 shares of the company’s stock worth $4,137,000 after buying an additional 86 shares during the period. Finally, Hilltop National Bank bought a new position in shares of Ferguson during the 4th quarter worth $100,000. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Trading Up 0.1 %

Shares of Ferguson stock opened at $171.24 on Friday. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $225.63. The firm’s 50 day simple moving average is $163.79 and its two-hundred day simple moving average is $180.22. 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 capitalization of $34.24 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 1.69 and a beta of 1.14.

Ferguson (NASDAQ:FERG) last issued its earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.06). The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.76 billion. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $1.74 EPS. Analysts predict that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Friday, March 21st were issued a $0.83 dividend. The ex-dividend date of this dividend was Friday, March 21st. This represents a $3.32 annualized dividend and a yield of 1.94%. Ferguson’s dividend payout ratio (DPR) is presently 40.84%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Robert W. Baird set a $190.00 price objective on shares of Ferguson and gave the stock an “outperform” rating in a research note on Wednesday, March 12th. Oppenheimer cut their price objective on shares of Ferguson from $234.00 to $189.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Morgan Stanley assumed coverage on Ferguson in a report on Monday, February 3rd. They set an “overweight” rating and a $204.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $189.00 price target on shares of Ferguson in a report on Tuesday, March 18th. Finally, Citigroup decreased their price objective on Ferguson from $189.00 to $168.00 and set a “neutral” rating for the company in a research note on Wednesday, March 12th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $199.38.

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.