Oliver Luxxe Assets LLC Decreases Holdings in Ferguson plc (NASDAQ:FERG)

Oliver Luxxe Assets LLC reduced its position in shares of Ferguson plc (NASDAQ:FERG) by 41.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,524 shares of the company’s stock after selling 13,043 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Ferguson were worth $3,215,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Asset Dedication LLC bought a new stake in Ferguson during the third quarter valued at approximately $27,000. True Wealth Design LLC boosted its stake in shares of Ferguson by 1,350.0% during the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after acquiring an additional 135 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Ferguson in the 3rd quarter worth $37,000. Peterson Financial Group Inc. purchased a new stake in shares of Ferguson in the 3rd quarter worth $39,000. Finally, Ashton Thomas Securities LLC bought a new position in Ferguson in the 3rd quarter worth $40,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Price Performance

NASDAQ FERG traded down $0.34 on Monday, reaching $173.92. The company had a trading volume of 881,894 shares, compared to its average volume of 836,834. The firm’s 50 day moving average price is $197.14 and its 200 day moving average price is $199.59. Ferguson plc has a 12 month low of $171.68 and a 12 month high of $225.63. The stock has a market capitalization of $34.77 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. The company has a quick ratio of 1.00, a current ratio of 1.80 and a debt-to-equity ratio of 0.89.

Ferguson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Friday, December 20th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, December 20th. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a yield of 1.91%. Ferguson’s dividend payout ratio is presently 39.86%.

Insider Buying and Selling at Ferguson

In related news, VP Michael Jacobs sold 2,624 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $200.96, for a total value of $527,319.04. Following the completion of the transaction, the vice president now directly owns 1,116 shares of the company’s stock, valued at approximately $224,271.36. This trade represents a 70.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Richard Winckler sold 1,325 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $201.75, for a total transaction of $267,318.75. Following the transaction, the chief accounting officer now owns 1,000 shares of the company’s stock, valued at $201,750. This trade represents a 56.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,313 shares of company stock worth $2,477,901 in the last quarter. 0.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $219.00 price target on shares of Ferguson in a report on Wednesday, December 11th. Citigroup reduced their target price on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a report on Monday. Oppenheimer started coverage on shares of Ferguson in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 target price on the stock. Barclays dropped their price target on shares of Ferguson from $245.00 to $234.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Finally, Robert W. Baird decreased their price objective on shares of 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 issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $226.89.

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.