Korea Investment CORP Has $30.80 Million Holdings in Ferguson plc $FERG

Korea Investment CORP trimmed its holdings in Ferguson plc (NYSE:FERG) by 24.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 137,163 shares of the company’s stock after selling 44,929 shares during the quarter. Korea Investment CORP’s holdings in Ferguson were worth $30,804,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Ferguson by 23.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock valued at $2,445,000 after purchasing an additional 2,940 shares during the period. Caxton Associates LLP acquired a new stake in Ferguson in the 1st quarter worth $310,000. Focus Partners Wealth increased its holdings in shares of Ferguson by 22.7% during the 1st quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock worth $503,000 after purchasing an additional 581 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Ferguson during the second quarter valued at about $257,000. Finally, First Horizon Advisors Inc. raised its position in shares of Ferguson by 81.4% during the second quarter. First Horizon Advisors Inc. now owns 303 shares of the company’s stock valued at $66,000 after buying an additional 136 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FERG shares. Morgan Stanley reissued an “overweight” rating on shares of Ferguson in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ferguson in a report on Thursday, January 22nd. Barclays raised their price objective on Ferguson from $278.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on Ferguson from $237.00 to $246.00 and gave the stock a “hold” rating in a report on Thursday, December 11th. Finally, Jefferies Financial Group restated a “buy” rating and set a $300.00 price objective on shares of Ferguson in a research report on Tuesday, February 24th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $262.62.

Ferguson Trading Up 0.1%

Shares of Ferguson stock opened at $230.47 on Tuesday. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $271.64. The stock has a market capitalization of $44.83 billion, a P/E ratio of 23.28 and a beta of 1.17. The company has a 50-day simple moving average of $248.73 and a 200 day simple moving average of $240.70. The company has a quick ratio of 1.01, a current ratio of 1.88 and a debt-to-equity ratio of 0.68.

Ferguson (NYSE:FERG) last released its quarterly earnings results on Tuesday, February 24th. The company reported $1.99 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.25). Ferguson had a net margin of 6.93% and a return on equity of 40.37%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.52 earnings per share.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Friday, March 6th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, March 6th. Ferguson’s payout ratio is presently 35.96%.

Ferguson Profile

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.