Madison Asset Management LLC Has $99.39 Million Stake in Ferguson plc $FERG

Madison Asset Management LLC reduced its holdings in shares of Ferguson plc (NYSE:FERG) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 442,545 shares of the company’s stock after selling 17,675 shares during the period. Ferguson accounts for approximately 1.1% of Madison Asset Management LLC’s investment portfolio, making the stock its 29th biggest holding. Madison Asset Management LLC owned approximately 0.23% of Ferguson worth $99,387,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FERG. Vanguard Group Inc. grew its stake in Ferguson by 0.9% during the second quarter. Vanguard Group Inc. now owns 19,341,871 shares of the company’s stock worth $4,211,692,000 after purchasing an additional 173,128 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Ferguson by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,687,611 shares of the company’s stock worth $1,673,977,000 after buying an additional 27,312 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Ferguson by 39.3% in the 2nd quarter. Franklin Resources Inc. now owns 4,255,661 shares of the company’s stock valued at $926,830,000 after acquiring an additional 1,201,493 shares in the last quarter. Soroban Capital Partners LP increased its stake in shares of Ferguson by 2.8% in the 2nd quarter. Soroban Capital Partners LP now owns 3,705,056 shares of the company’s stock valued at $806,776,000 after acquiring an additional 100,559 shares in the last quarter. Finally, Brown Advisory Inc. lifted its position in shares of Ferguson by 0.4% during the 2nd quarter. Brown Advisory Inc. now owns 2,442,107 shares of the company’s stock valued at $531,769,000 after acquiring an additional 10,615 shares during the period. 81.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FERG shares. Weiss Ratings restated a “buy (b-)” rating on shares of Ferguson in a report on Thursday, January 22nd. Barclays raised their target price on Ferguson from $267.00 to $278.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. JPMorgan Chase & Co. upped their price target on Ferguson from $225.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Wall Street Zen cut Ferguson from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Ferguson in a report on Friday, January 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Ferguson has a consensus rating of “Moderate Buy” and a consensus target price of $253.00.

Ferguson Stock Performance

NYSE FERG opened at $263.33 on Wednesday. The company has a fifty day moving average price of $240.16 and a 200-day moving average price of $236.97. The firm has a market cap of $51.49 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 2.17 and a beta of 1.18. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $265.00.

Ferguson (NYSE:FERG) last released its quarterly earnings results on Tuesday, December 9th. The company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.07. The business had revenue of $8.17 billion for the quarter. Ferguson had a net margin of 6.28% and a return on equity of 35.73%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.45 earnings per share.

Ferguson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, January 2nd will be paid a $0.89 dividend. This is a boost from Ferguson’s previous quarterly dividend of $0.83. The ex-dividend date is Friday, January 2nd. This represents a $3.56 dividend on an annualized basis and a yield of 1.4%. Ferguson’s dividend payout ratio is currently 35.96%.

Ferguson Profile

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.