Silvercrest Asset Management Group LLC Boosts Stake in Ferguson plc (NASDAQ:FERG)

Silvercrest Asset Management Group LLC boosted its stake in Ferguson plc (NASDAQ:FERG) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 53,899 shares of the company’s stock after purchasing an additional 1,642 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Ferguson were worth $9,355,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Parnassus Investments LLC grew its position in shares of Ferguson by 944.4% during the 4th quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company’s stock valued at $613,944,000 after acquiring an additional 3,198,477 shares during the period. Norges Bank bought a new position in shares of Ferguson during the 4th quarter valued at approximately $469,730,000. Barclays PLC grew its position in shares of Ferguson by 208.8% during the 4th quarter. Barclays PLC now owns 2,678,880 shares of the company’s stock valued at $464,973,000 after acquiring an additional 1,811,287 shares during the period. FMR LLC grew its position in shares of Ferguson by 18.2% during the 4th quarter. FMR LLC now owns 10,007,892 shares of the company’s stock valued at $1,740,049,000 after acquiring an additional 1,539,889 shares during the period. Finally, Schroder Investment Management Group bought a new position in shares of Ferguson during the 4th quarter valued at approximately $239,539,000. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Up 1.6%

Shares of NASDAQ:FERG opened at $184.54 on Friday. The firm has a fifty day moving average price of $165.13 and a two-hundred day moving average price of $179.50. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. Ferguson plc has a one year low of $146.00 and a one year high of $225.63. The company has a market cap of $36.90 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 1.69 and a beta of 1.14.

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

Ferguson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 1.80%. The ex-dividend date was Friday, March 21st. Ferguson’s payout ratio is 40.84%.

Wall Street Analyst Weigh In

FERG has been the subject of a number of research reports. Morgan Stanley initiated coverage on shares of Ferguson in a research report on Monday, February 3rd. They set an “overweight” rating and a $204.00 target price for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferguson in a research report on Tuesday, April 1st. They set a “hold” rating and a $174.00 target price for the company. Citigroup cut their price objective on shares of Ferguson from $189.00 to $168.00 and set a “neutral” rating for the company in a report on Wednesday, March 12th. Oppenheimer cut their price objective on shares of Ferguson from $234.00 to $189.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $189.00 price objective on shares of Ferguson in a report on Tuesday, March 18th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $199.38.

Ferguson Company Profile

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.