Assenagon Asset Management S.A. Acquires 668,920 Shares of Ferguson plc (NASDAQ:FERG)

Assenagon Asset Management S.A. boosted its holdings in shares of Ferguson plc (NASDAQ:FERG) by 7,632.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 677,684 shares of the company’s stock after buying an additional 668,920 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.34% of Ferguson worth $117,626,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC increased its holdings in shares of Ferguson by 303.7% during the 3rd quarter. CWM LLC now owns 4,550 shares of the company’s stock worth $904,000 after acquiring an additional 3,423 shares during the last quarter. Principal Financial Group Inc. boosted its position in Ferguson by 32.5% during the third quarter. Principal Financial Group Inc. now owns 32,025 shares of the company’s stock worth $6,359,000 after purchasing an additional 7,862 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Ferguson in the third quarter valued at $970,000. Entropy Technologies LP raised its position in shares of Ferguson by 66.2% in the third quarter. Entropy Technologies LP now owns 51,647 shares of the company’s stock valued at $10,256,000 after purchasing an additional 20,580 shares during the period. Finally, Clean Yield Group raised its position in shares of Ferguson by 27.1% in the fourth quarter. Clean Yield Group now owns 25,959 shares of the company’s stock valued at $4,506,000 after purchasing an additional 5,534 shares during the period. Institutional investors own 81.98% of the company’s stock.

Ferguson Price Performance

Shares of NASDAQ FERG opened at $175.69 on Wednesday. The business has a fifty day moving average price of $193.57 and a two-hundred day moving average price of $198.52. The stock has a market capitalization of $35.13 billion, a PE ratio of 21.09, a P/E/G ratio of 1.90 and a beta of 1.24. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00. Ferguson plc has a fifty-two week low of $167.27 and a fifty-two week high of $225.63.

Ferguson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Friday, December 20th will be given a $0.83 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.89%. This is a boost from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s dividend payout ratio (DPR) is presently 39.86%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FERG. UBS Group reiterated a “neutral” rating and issued a $193.00 price target (down previously from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Royal Bank of Canada restated an “outperform” rating and set a $219.00 price objective on shares of Ferguson in a report on Wednesday, December 11th. Oppenheimer started coverage on Ferguson in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 target price on the stock. Citigroup reduced their price target on Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, Robert W. Baird lowered their price objective on Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $222.40.

About Ferguson

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.