Handelsbanken Fonder AB Purchases 5,436 Shares of Ferguson plc (NASDAQ:FERG)

Handelsbanken Fonder AB raised its position in Ferguson plc (NASDAQ:FERG) by 5.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 108,384 shares of the company’s stock after acquiring an additional 5,436 shares during the period. Handelsbanken Fonder AB’s holdings in Ferguson were worth $18,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in FERG. AMF Tjanstepension AB bought a new stake in Ferguson in the 3rd quarter valued at about $2,523,000. Creative Planning raised its position in shares of Ferguson by 55.0% in the third quarter. Creative Planning now owns 7,404 shares of the company’s stock valued at $1,470,000 after purchasing an additional 2,628 shares during the period. Signaturefd LLC raised its position in shares of Ferguson by 4.5% in the third quarter. Signaturefd LLC now owns 3,737 shares of the company’s stock valued at $742,000 after purchasing an additional 160 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Ferguson during the 3rd quarter valued at approximately $28,390,000. Finally, IFM Investors Pty Ltd bought a new position in Ferguson in the 3rd quarter worth approximately $8,799,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Price Performance

FERG stock opened at $175.90 on Friday. The firm has a 50 day simple moving average of $178.64 and a two-hundred day simple moving average of $194.10. The stock has a market cap of $35.17 billion, a PE ratio of 21.12, a P/E/G ratio of 1.71 and a beta of 1.24. Ferguson plc has a one year low of $167.27 and a one year high of $225.63. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91.

Ferguson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Friday, December 20th were issued 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 1.89%. The ex-dividend date was Friday, December 20th. Ferguson’s dividend payout ratio is presently 39.86%.

Analysts Set New Price Targets

FERG has been the topic of a number of analyst reports. Morgan Stanley initiated coverage on shares of Ferguson in a report on Monday, February 3rd. They set an “overweight” rating and a $204.00 target price on the stock. Bank of America upgraded Ferguson from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $185.00 to $225.00 in a research note on Wednesday, January 8th. Zelman & Associates downgraded Ferguson from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 17th. Berenberg Bank upped their price target on Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Citigroup cut their price objective on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $217.73.

Ferguson 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.