Tokio Marine Asset Management Co. Ltd. Increases Stock Holdings in Ferguson plc (NASDAQ:FERG)

Tokio Marine Asset Management Co. Ltd. boosted its stake in Ferguson plc (NASDAQ:FERG) by 614.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 41,074 shares of the company’s stock after buying an additional 35,327 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Ferguson were worth $7,129,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Ferguson by 423.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,462,836 shares of the company’s stock valued at $290,475,000 after purchasing an additional 1,183,143 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Ferguson by 7,632.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 677,684 shares of the company’s stock worth $117,626,000 after purchasing an additional 668,920 shares in the last quarter. Southpoint Capital Advisors LP grew its position in Ferguson by 133.3% in the 3rd quarter. Southpoint Capital Advisors LP now owns 700,000 shares of the company’s stock worth $138,999,000 after purchasing an additional 400,000 shares in the last quarter. Barclays PLC increased its stake in Ferguson by 76.9% in the 3rd quarter. Barclays PLC now owns 867,593 shares of the company’s stock valued at $172,281,000 after buying an additional 377,283 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Ferguson by 910.3% during the 4th quarter. SG Americas Securities LLC now owns 366,015 shares of the company’s stock worth $63,529,000 after buying an additional 329,786 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FERG shares. Oppenheimer started coverage on Ferguson in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price target for the company. Berenberg Bank raised their target price on Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Barclays cut their price target on shares of Ferguson from $234.00 to $211.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Zelman & Associates downgraded shares of Ferguson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $219.00 target price on shares of Ferguson in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $220.10.

Ferguson Price Performance

FERG opened at $181.21 on Friday. The firm has a 50-day moving average price of $187.04 and a 200-day moving average price of $197.16. Ferguson plc has a twelve month low of $167.27 and a twelve month high of $225.63. 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 capitalization of $36.23 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 1.69 and a beta of 1.24.

Ferguson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Friday, December 20th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 1.83%. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Friday, December 20th. Ferguson’s payout ratio is currently 39.86%.

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.