MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Acquires Shares of 129,573 Ferguson plc (NASDAQ:FERG)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in Ferguson plc (NASDAQ:FERG) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 129,573 shares of the company’s stock, valued at approximately $25,549,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owned about 0.06% of Ferguson as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of FERG. Bank of New York Mellon Corp boosted its position in Ferguson by 375.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,289,864 shares of the company’s stock worth $1,218,032,000 after purchasing an additional 4,966,821 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Ferguson by 589.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,619,637 shares of the company’s stock worth $353,778,000 after buying an additional 1,384,570 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Ferguson by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,563,558 shares of the company’s stock valued at $302,781,000 after buying an additional 153,757 shares during the period. First Pacific Advisors LP increased its holdings in Ferguson by 1.4% in the second quarter. First Pacific Advisors LP now owns 1,104,289 shares of the company’s stock valued at $213,846,000 after buying an additional 15,700 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Ferguson by 1.9% in the second quarter. Envestnet Asset Management Inc. now owns 967,849 shares of the company’s stock valued at $187,424,000 after buying an additional 18,504 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Jefferies Financial Group raised their target price on Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Citigroup boosted their price objective on Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. UBS Group increased their target price on Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Barclays lifted their price target on shares of Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Finally, Wells Fargo & Company decreased their price objective on shares of Ferguson from $250.00 to $225.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $231.57.

Ferguson Trading Up 0.3 %

Shares of FERG opened at $198.69 on Monday. Ferguson plc has a 52-week low of $147.62 and a 52-week high of $225.63. The stock has a market cap of $39.89 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 3.31 and a beta of 1.20. The firm’s fifty day moving average is $200.24 and its two-hundred day moving average is $205.55. The company has a quick ratio of 1.00, a current ratio of 1.80 and a debt-to-equity ratio of 0.89.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12. The firm had revenue of $7.95 billion for the quarter, compared to analyst estimates of $8.01 billion. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. Ferguson’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.77 earnings per share. Research analysts forecast that Ferguson plc will post 9.86 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a $0.79 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.16 annualized dividend and a dividend yield of 1.59%. Ferguson’s dividend payout ratio is presently 37.05%.

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.