Artisan Partners Limited Partnership Has $81.05 Million Stock Holdings in Ferguson plc (NASDAQ:FERG)

Artisan Partners Limited Partnership decreased its holdings in shares of Ferguson plc (NASDAQ:FERG) by 64.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 466,960 shares of the company’s stock after selling 830,134 shares during the period. Artisan Partners Limited Partnership owned 0.23% of Ferguson worth $81,050,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Ferguson by 23.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 167,324 shares of the company’s stock worth $29,156,000 after buying an additional 31,245 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Ferguson by 1.3% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,390 shares of the company’s stock worth $1,109,000 after acquiring an additional 80 shares in the last quarter. Prudential Financial Inc. grew its holdings in Ferguson by 227.5% in the fourth quarter. Prudential Financial Inc. now owns 43,911 shares of the company’s stock worth $7,622,000 after purchasing an additional 30,505 shares during the period. Cannon Global Investment Management LLC increased its stake in Ferguson by 205.0% in the fourth quarter. Cannon Global Investment Management LLC now owns 6,100 shares of the company’s stock valued at $1,059,000 after purchasing an additional 4,100 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in shares of Ferguson by 0.8% during the fourth quarter. LPL Financial LLC now owns 50,779 shares of the company’s stock valued at $8,814,000 after purchasing an additional 387 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Performance

NASDAQ FERG opened at $163.28 on Friday. The company has a fifty day moving average price of $174.20 and a 200-day moving average price of $187.89. The firm has a market cap of $32.65 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 1.69 and a beta of 1.28. 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 plc has a 1 year low of $152.52 and a 1 year high of $225.63.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings data 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 return on equity of 34.63% and a net margin of 5.68%. The firm had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.76 billion. During the same period in the previous year, the company posted $1.74 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities research analysts predict that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, March 21st will be issued a dividend of $0.83 per share. The ex-dividend date is Friday, March 21st. This represents a $3.32 dividend on an annualized basis and a yield of 2.03%. Ferguson’s dividend payout ratio (DPR) is currently 40.84%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FERG. Citigroup reduced their target price on Ferguson from $189.00 to $168.00 and set a “neutral” rating for the company in a research note on Wednesday, March 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $189.00 price objective on shares of Ferguson in a research note on Tuesday, March 18th. Wells Fargo & Company lowered their target price on Ferguson from $205.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Zelman & Associates downgraded shares of Ferguson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Ferguson from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Ferguson presently has a consensus rating of “Moderate Buy” and an average 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.