Arrowstreet Capital Limited Partnership Sells 391,639 Shares of Ferguson plc (NASDAQ:FERG)

Arrowstreet Capital Limited Partnership lowered its stake in shares of Ferguson plc (NASDAQ:FERG) by 95.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,719 shares of the company’s stock after selling 391,639 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Ferguson were worth $3,431,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of FERG. Parnassus Investments LLC increased its holdings in shares of Ferguson by 944.4% during the 4th quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company’s stock worth $613,944,000 after purchasing an additional 3,198,477 shares during the period. Geode Capital Management LLC increased its stake in Ferguson by 0.8% during the third quarter. Geode Capital Management LLC now owns 3,197,621 shares of the company’s stock valued at $633,409,000 after acquiring an additional 25,677 shares during the period. Pictet Asset Management Holding SA raised its holdings in Ferguson by 7.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,804,595 shares of the company’s stock valued at $486,814,000 after acquiring an additional 192,052 shares in the last quarter. Norges Bank bought a new stake in shares of Ferguson in the 4th quarter worth approximately $469,730,000. Finally, Franklin Resources Inc. grew its holdings in shares of Ferguson by 6.0% during the 3rd quarter. Franklin Resources Inc. now owns 2,371,954 shares of the company’s stock worth $477,858,000 after purchasing an additional 133,769 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Stock Down 2.7 %

Shares of NASDAQ FERG opened at $148.05 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The company has a market cap of $29.60 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17. Ferguson plc has a 12-month low of $146.15 and a 12-month high of $225.63. The firm’s 50-day simple moving average is $169.74 and its 200 day simple moving average is $185.33.

Ferguson (NASDAQ:FERG) last released its quarterly earnings results on Tuesday, March 11th. The company reported $1.52 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.76 billion. During the same period last year, the company earned $1.74 earnings per share. Ferguson’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, research analysts expect that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, March 21st will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.24%. Ferguson’s payout ratio is currently 40.84%.

Wall Street Analyst Weigh In

FERG has been the subject of several research reports. UBS Group reaffirmed a “neutral” rating and issued a $193.00 target price (down from $230.00) on shares of Ferguson in a research report on Wednesday, January 8th. Morgan Stanley started coverage on shares of Ferguson in a research report on Monday, February 3rd. They set an “overweight” rating and a $204.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferguson in a research note on Tuesday, April 1st. They issued a “hold” rating and a $174.00 target price on the stock. Zelman & Associates cut shares of Ferguson from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 17th. Finally, JPMorgan Chase & Co. lowered 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. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Ferguson currently has an average rating of “Moderate Buy” and an average target price of $198.62.

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.