Ferguson plc (NASDAQ:FERG) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its position in Ferguson plc (NASDAQ:FERG) by 12.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 231,676 shares of the company’s stock after selling 34,227 shares during the period. Truist Financial Corp’s holdings in Ferguson were worth $40,212,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. FMR LLC raised its position in shares of Ferguson by 3.5% in the third quarter. FMR LLC now owns 8,468,003 shares of the company’s stock valued at $1,668,462,000 after buying an additional 288,935 shares during the last quarter. State Street Corp raised its position in shares of Ferguson by 3.7% in the third quarter. State Street Corp now owns 4,541,079 shares of the company’s stock valued at $905,230,000 after buying an additional 161,662 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Ferguson by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,197,621 shares of the company’s stock valued at $633,409,000 after buying an additional 25,677 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Ferguson by 6.0% in the third quarter. Franklin Resources Inc. now owns 2,371,954 shares of the company’s stock valued at $477,858,000 after buying an additional 133,769 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 buying an additional 1,183,143 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Price Performance

FERG opened at $185.79 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. Ferguson plc has a 52-week low of $167.27 and a 52-week high of $225.63. The company has a 50 day moving average of $179.33 and a two-hundred day moving average of $194.44. The company has a market cap of $37.15 billion, a P/E ratio of 22.30, a P/E/G ratio of 1.72 and a beta of 1.24.

Ferguson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Friday, December 20th were paid a dividend of $0.83 per share. This is an increase from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 annualized dividend and a yield of 1.79%. The ex-dividend date was Friday, December 20th. Ferguson’s payout ratio is currently 39.86%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FERG. Robert W. Baird lowered their target price on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Morgan Stanley began coverage on shares of Ferguson in a report on Monday, February 3rd. They issued an “overweight” rating and a $204.00 target price for the company. Citigroup lowered 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, January 6th. Barclays lowered their target price on shares of Ferguson from $234.00 to $211.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Finally, Oppenheimer began coverage on shares of Ferguson in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 target price for the company. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ferguson has a consensus rating of “Moderate Buy” and a consensus target price of $217.73.

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.