Allianz Asset Management GmbH Acquires 2,005 Shares of Ferguson plc (NASDAQ:FERG)

Allianz Asset Management GmbH lifted its holdings in shares of Ferguson plc (NASDAQ:FERG) by 0.5% during the fourth quarter, HoldingsChannel reports. The firm owned 415,038 shares of the company’s stock after purchasing an additional 2,005 shares during the quarter. Allianz Asset Management GmbH’s holdings in Ferguson were worth $72,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in FERG. AMF Tjanstepension AB bought a new stake in Ferguson in the third quarter worth about $2,523,000. Creative Planning raised its holdings in shares of Ferguson by 55.0% in the 3rd quarter. Creative Planning now owns 7,404 shares of the company’s stock worth $1,470,000 after purchasing an additional 2,628 shares during the period. Signaturefd LLC lifted its stake in Ferguson by 4.5% in the third quarter. Signaturefd LLC now owns 3,737 shares of the company’s stock valued at $742,000 after purchasing an additional 160 shares during the last quarter. International Assets Investment Management LLC bought a new position in Ferguson during the third quarter valued at $28,390,000. Finally, IFM Investors Pty Ltd bought a new stake in shares of Ferguson in the third quarter valued at $8,799,000. 81.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FERG has been the topic of a number of recent research reports. Barclays cut their price target on Ferguson from $234.00 to $211.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Citigroup cut their target price on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. UBS Group reissued a “neutral” rating and issued a $193.00 price target (down previously from $230.00) on shares of Ferguson in a research report on Wednesday, January 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $219.00 price objective on shares of Ferguson in a report on Wednesday, December 11th. Finally, Morgan Stanley assumed coverage on shares of Ferguson in a report on Monday, February 3rd. They set an “overweight” rating and a $204.00 target price on the stock. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $217.73.

Ferguson Stock Down 2.0 %

Shares of NASDAQ:FERG opened at $175.90 on Friday. The company has a market cap of $35.17 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 1.69 and a beta of 1.24. Ferguson plc has a one year low of $167.27 and a one year high of $225.63. The firm has a fifty day moving average price of $178.64 and a two-hundred day moving average price of $194.10. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Investors of record on Friday, December 20th were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 1.89%. This is a boost from Ferguson’s previous quarterly dividend of $0.79. The ex-dividend date was Friday, December 20th. Ferguson’s payout ratio is presently 39.86%.

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.