KLP Kapitalforvaltning AS Acquires Shares of 68,444 Ferguson plc (NASDAQ:FERG)

KLP Kapitalforvaltning AS bought a new stake in Ferguson plc (NASDAQ:FERG) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 68,444 shares of the company’s stock, valued at approximately $11,929,000.

Several other institutional investors have also bought and sold shares of the business. Principal Financial Group Inc. raised its stake in shares of Ferguson by 32.5% in the third quarter. Principal Financial Group Inc. now owns 32,025 shares of the company’s stock valued at $6,359,000 after acquiring an additional 7,862 shares during the period. Charles Schwab Investment Management Inc. raised its position in Ferguson by 7.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 778,737 shares of the company’s stock worth $135,247,000 after purchasing an additional 52,776 shares during the period. New York Life Investment Management LLC bought a new stake in Ferguson in the fourth quarter worth about $587,000. Neo Ivy Capital Management purchased a new position in shares of Ferguson during the third quarter valued at approximately $970,000. Finally, Clean Yield Group grew its stake in shares of Ferguson by 27.1% during the fourth quarter. Clean Yield Group now owns 25,959 shares of the company’s stock valued at $4,506,000 after buying an additional 5,534 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Price Performance

FERG stock opened at $164.37 on Tuesday. Ferguson plc has a 1 year low of $152.52 and a 1 year high of $225.63. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The firm has a market capitalization of $32.87 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. The business has a 50 day simple moving average of $174.89 and a 200-day simple moving average of $188.40.

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

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, March 21st will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, March 21st. Ferguson’s dividend payout ratio (DPR) is 40.84%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Oppenheimer decreased 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $189.00 price target on shares of Ferguson in a research note on Tuesday, March 18th. Wolfe Research started coverage on Ferguson in a research note on Monday, March 17th. They issued a “peer perform” rating on the stock. Zelman & Associates lowered Ferguson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 17th. Finally, Robert W. Baird set a $190.00 price target on Ferguson and gave the stock an “outperform” rating in a research report on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $200.67.

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.