Ferguson plc (NASDAQ:FERG) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd cut its holdings in shares of Ferguson plc (NASDAQ:FERG) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,993 shares of the company’s stock after selling 170 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Ferguson were worth $2,775,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in Ferguson by 32.5% during the 3rd quarter. Principal Financial Group Inc. now owns 32,025 shares of the company’s stock worth $6,359,000 after buying an additional 7,862 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Ferguson during the 3rd quarter worth approximately $970,000. Clean Yield Group lifted its holdings in Ferguson by 27.1% during the 4th quarter. Clean Yield Group now owns 25,959 shares of the company’s stock worth $4,506,000 after buying an additional 5,534 shares in the last quarter. Eagle Asset Management Inc. lifted its holdings in Ferguson by 79.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 646,954 shares of the company’s stock worth $134,217,000 after buying an additional 286,691 shares in the last quarter. Finally, Entropy Technologies LP lifted its holdings in Ferguson by 66.2% during the 3rd quarter. Entropy Technologies LP now owns 51,647 shares of the company’s stock worth $10,256,000 after buying an additional 20,580 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Trading Up 1.3 %

NASDAQ FERG opened at $177.48 on Friday. 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 firm’s fifty day moving average price is $178.12 and its 200 day moving average price is $193.33. The company has a market capitalization of $35.49 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 1.69 and a beta of 1.24. Ferguson plc has a 12 month low of $167.27 and a 12 month high of $225.63.

Ferguson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Investors of record on Friday, December 20th were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.87%. This is an increase from Ferguson’s previous quarterly dividend of $0.79. The ex-dividend date was Friday, December 20th. Ferguson’s dividend payout ratio (DPR) is 39.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $219.00 target price on shares of Ferguson in a report on Wednesday, December 11th. Wells Fargo & Company dropped their price objective on shares of Ferguson from $215.00 to $205.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Robert W. Baird dropped 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. Barclays dropped their price objective on shares of Ferguson from $234.00 to $211.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Finally, Morgan Stanley began coverage on shares of Ferguson in a research report on Monday, February 3rd. They issued an “overweight” rating and a $204.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.