Financial Management Professionals Inc. Boosts Stake in Ferguson plc (NASDAQ:FERG)

Financial Management Professionals Inc. increased its stake in Ferguson plc (NASDAQ:FERG) by 12.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,955 shares of the company’s stock after acquiring an additional 217 shares during the period. Financial Management Professionals Inc.’s holdings in Ferguson were worth $339,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Asset Dedication LLC bought a new position in shares of Ferguson during the 3rd quarter valued at about $27,000. True Wealth Design LLC grew its position in Ferguson by 1,350.0% during the third quarter. True Wealth Design LLC now owns 145 shares of the company’s stock valued at $29,000 after acquiring an additional 135 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Ferguson during the third quarter worth approximately $37,000. Peterson Financial Group Inc. bought a new stake in shares of Ferguson in the 3rd quarter worth approximately $39,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Ferguson in the 3rd quarter valued at $40,000. Institutional investors own 81.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FERG. Oppenheimer initiated coverage on Ferguson in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price objective on the stock. Berenberg Bank lifted their price target on Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Barclays lowered their price objective on Ferguson from $234.00 to $211.00 and set an “overweight” rating for the company in a research report on Thursday. Wells Fargo & Company cut their target price on shares of Ferguson from $220.00 to $215.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $219.00 price target on shares of Ferguson in a report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Ferguson presently has a consensus rating of “Moderate Buy” and an average target price of $220.10.

Ferguson Stock Performance

Shares of NASDAQ FERG opened at $177.50 on Friday. The company has a market cap of $35.49 billion, a P/E ratio of 17.89, a P/E/G ratio of 1.60 and a beta of 1.24. Ferguson plc has a 52-week low of $167.27 and a 52-week high of $225.63. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. The firm’s fifty day moving average is $191.58 and its two-hundred day moving average is $198.17.

Ferguson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Friday, December 20th will be paid a $0.83 dividend. This is a boost from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Friday, December 20th. Ferguson’s dividend payout ratio (DPR) is presently 39.86%.

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.