Prudential Financial Inc. Buys 30,505 Shares of Ferguson plc (NASDAQ:FERG)

Prudential Financial Inc. boosted its stake in Ferguson plc (NASDAQ:FERG) by 227.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,911 shares of the company’s stock after purchasing an additional 30,505 shares during the quarter. Prudential Financial Inc.’s holdings in Ferguson were worth $7,622,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FERG. Wealth Enhancement Advisory Services LLC raised its position in shares of Ferguson by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,834 shares of the company’s stock valued at $4,137,000 after acquiring an additional 86 shares during the period. Caprock Group LLC increased its stake in Ferguson by 2.8% in the fourth quarter. Caprock Group LLC now owns 3,496 shares of the company’s stock valued at $610,000 after purchasing an additional 94 shares in the last quarter. Assetmark Inc. raised its holdings in Ferguson by 41.1% in the fourth quarter. Assetmark Inc. now owns 333 shares of the company’s stock worth $58,000 after purchasing an additional 97 shares during the period. Inspire Advisors LLC boosted its position in shares of Ferguson by 3.7% during the fourth quarter. Inspire Advisors LLC now owns 3,001 shares of the company’s stock worth $521,000 after purchasing an additional 108 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of Ferguson by 8.4% in the 4th quarter. Venturi Wealth Management LLC now owns 1,432 shares of the company’s stock valued at $249,000 after buying an additional 111 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Down 1.4 %

Ferguson stock opened at $160.63 on Friday. The company has a fifty day simple moving average of $173.86 and a 200 day simple moving average of $187.70. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. Ferguson plc has a 1-year low of $152.52 and a 1-year high of $225.63. The company has a market cap of $32.12 billion, a P/E ratio of 19.28, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28.

Ferguson (NASDAQ:FERG) last released its earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.06). Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.76 billion. During the same period in the prior year, the firm posted $1.74 EPS. Ferguson’s revenue was up 3.0% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, March 21st will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, March 21st. Ferguson’s dividend payout ratio is currently 40.84%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FERG. JPMorgan Chase & Co. dropped their price objective on Ferguson from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 19th. Morgan Stanley began coverage on Ferguson in a report on Monday, February 3rd. They set an “overweight” rating and a $204.00 price objective on the stock. Zelman & Associates cut Ferguson from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 17th. Bank of America raised shares of Ferguson from an “underperform” rating to a “buy” rating and lifted their price target for the company from $185.00 to $225.00 in a research note on Wednesday, January 8th. Finally, UBS Group reissued a “neutral” rating and set a $193.00 price objective (down previously from $230.00) on shares of Ferguson in a research report on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and a consensus target price of $200.67.

Ferguson 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.