Argent Capital Management LLC Cuts Stock Position in Ferguson plc (NASDAQ:FERG)

Argent Capital Management LLC cut its holdings in Ferguson plc (NASDAQ:FERG) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 158,120 shares of the company’s stock after selling 1,236 shares during the period. Argent Capital Management LLC’s holdings in Ferguson were worth $27,445,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Ferguson by 3.5% during the 3rd 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 period. State Street Corp increased its stake in Ferguson by 3.7% in the 3rd quarter. State Street Corp now owns 4,541,079 shares of the company’s stock worth $905,230,000 after buying an additional 161,662 shares in the last quarter. Geode Capital Management LLC increased its stake in Ferguson by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,197,621 shares of the company’s stock worth $633,409,000 after buying an additional 25,677 shares in the last quarter. Franklin Resources Inc. grew its position in shares of 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 in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Ferguson by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,563,558 shares of the company’s stock valued at $302,781,000 after purchasing an additional 153,757 shares in the last quarter. 81.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Citigroup lowered their price target 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. Robert W. Baird decreased their price target on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Bank of America raised shares of Ferguson from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $185.00 to $225.00 in a report on Wednesday, January 8th. Barclays cut their price target on shares of Ferguson from $245.00 to $234.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. Finally, Wells Fargo & Company cut their price target 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. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $222.40.

Ferguson Stock Performance

Ferguson stock opened at $175.40 on Thursday. The firm’s fifty day moving average price is $193.57 and its 200 day moving average price is $198.52. The company has a market capitalization of $35.07 billion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 1.60 and a beta of 1.24. Ferguson plc has a 12-month low of $167.27 and a 12-month 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Friday, December 20th will be paid a dividend of $0.83 per share. The ex-dividend date is Friday, December 20th. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 annualized dividend and a yield of 1.89%. Ferguson’s dividend payout ratio is currently 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.