Ferguson plc (NASDAQ:FERG) Stake Boosted by Ieq Capital LLC

Ieq Capital LLC increased its position in shares of Ferguson plc (NASDAQ:FERG) by 88.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,591 shares of the company’s stock after acquiring an additional 3,089 shares during the period. Ieq Capital LLC’s holdings in Ferguson were worth $1,144,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its position in Ferguson by 3.5% during the third quarter. FMR LLC now owns 8,468,003 shares of the company’s stock valued at $1,668,462,000 after acquiring an additional 288,935 shares in the last quarter. State Street Corp boosted its stake in shares of Ferguson by 3.7% during the 3rd quarter. State Street Corp now owns 4,541,079 shares of the company’s stock worth $905,230,000 after acquiring an additional 161,662 shares in the last quarter. Geode Capital Management LLC boosted its position in Ferguson by 0.8% during the third quarter. Geode Capital Management LLC now owns 3,197,621 shares of the company’s stock worth $633,409,000 after purchasing an additional 25,677 shares during the period. Franklin Resources Inc. grew its holdings in Ferguson by 6.0% during the third quarter. Franklin Resources Inc. now owns 2,371,954 shares of the company’s stock valued at $477,858,000 after purchasing an additional 133,769 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 worth $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 $171.84 on Tuesday. The company’s 50 day simple moving average is $178.36 and its 200-day simple moving average is $193.87. 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. The stock has a market capitalization of $34.36 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 1.69 and a beta of 1.24.

Ferguson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Friday, December 20th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, December 20th. This is an increase from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a yield of 1.93%. Ferguson’s dividend payout ratio is presently 39.86%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FERG. Barclays lowered their target price on Ferguson from $234.00 to $211.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Citigroup lowered their price target on Ferguson from $221.00 to $189.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. UBS Group reaffirmed a “neutral” rating and issued a $193.00 target price (down from $230.00) on shares of Ferguson in a research report on Wednesday, January 8th. Robert W. Baird reduced their price objective 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. Finally, Bank of America upgraded Ferguson from an “underperform” rating to a “buy” rating and upped their price objective for the company from $185.00 to $225.00 in a research note on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $217.73.

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.