Nordea Investment Management AB Sells 43,141 Shares of Ferguson plc $FERG

Nordea Investment Management AB reduced its position in shares of Ferguson plc (NYSE:FERG) by 18.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,642 shares of the company’s stock after selling 43,141 shares during the period. Nordea Investment Management AB’s holdings in Ferguson were worth $44,004,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FERG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Ferguson by 23.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock worth $2,445,000 after acquiring an additional 2,940 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Ferguson in the first quarter worth $310,000. Focus Partners Wealth boosted its holdings in Ferguson by 22.7% during the first 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 last quarter. Parallel Advisors LLC boosted its holdings in Ferguson by 25.2% during the second quarter. Parallel Advisors LLC now owns 1,395 shares of the company’s stock worth $304,000 after purchasing an additional 281 shares during the last quarter. Finally, First Bank & Trust bought a new position in Ferguson in the second quarter valued at $203,000. 81.98% of the stock is currently owned by institutional investors.

Ferguson Stock Performance

Shares of NYSE FERG opened at $246.22 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $48.15 billion, a P/E ratio of 24.87, a P/E/G ratio of 2.00 and a beta of 1.18. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $256.93. The stock has a 50 day moving average of $236.96 and a 200-day moving average of $232.57.

Ferguson (NYSE:FERG) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.07. Ferguson had a return on equity of 35.73% and a net margin of 6.28%.The business had revenue of $8.17 billion during the quarter. During the same period in the prior year, the business earned $2.45 EPS. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year.

Ferguson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, January 2nd will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, January 2nd. This is a positive change from Ferguson’s previous quarterly dividend of $0.83. Ferguson’s payout ratio is presently 35.96%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Barclays cut their price target on shares of Ferguson from $273.00 to $267.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Robert W. Baird upped their target price on Ferguson from $262.00 to $265.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Sanford C. Bernstein restated an “outperform” rating on shares of Ferguson in a research note on Thursday, January 8th. Wall Street Zen cut Ferguson from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Ferguson in a report on Friday, January 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Ferguson currently has an average rating of “Moderate Buy” and an average price target of $252.31.

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.