Oak Thistle LLC Cuts Stock Position in Ferguson plc (NASDAQ:FERG)

Oak Thistle LLC reduced its stake in Ferguson plc (NASDAQ:FERG) by 27.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,275 shares of the company’s stock after selling 1,225 shares during the period. Oak Thistle LLC’s holdings in Ferguson were worth $568,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in FERG. CWM LLC lifted its position in shares of Ferguson by 303.7% during the third quarter. CWM LLC now owns 4,550 shares of the company’s stock worth $904,000 after purchasing an additional 3,423 shares in the last quarter. Principal Financial Group Inc. increased its stake 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 during the period. Neo Ivy Capital Management acquired a new position in Ferguson in the 3rd quarter worth $970,000. Clean Yield Group boosted its position in Ferguson by 27.1% in the 4th quarter. Clean Yield Group now owns 25,959 shares of the company’s stock valued at $4,506,000 after buying an additional 5,534 shares during the last quarter. Finally, Entropy Technologies LP grew its stake in shares of Ferguson by 66.2% during the third quarter. Entropy Technologies LP now owns 51,647 shares of the company’s stock valued at $10,256,000 after acquiring an additional 20,580 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Stock Performance

Shares of FERG stock opened at $176.66 on Friday. The company has a market cap of $35.32 billion, a P/E ratio of 21.21, a PEG ratio of 1.60 and a beta of 1.24. The business has a 50 day moving average of $192.86 and a two-hundred day moving average of $198.36. Ferguson plc has a 52 week low of $167.27 and a 52 week high of $225.63. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83.

Ferguson Increases Dividend

The business also recently disclosed 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. 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 1.88%. The ex-dividend date of this dividend is Friday, December 20th. Ferguson’s dividend payout ratio is presently 39.86%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FERG shares. Bank of America raised Ferguson from an “underperform” rating to a “buy” rating and increased their price target for the company from $185.00 to $225.00 in a report on Wednesday, January 8th. UBS Group reiterated a “neutral” rating and set a $193.00 target price (down from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Robert W. Baird cut their price target on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Barclays decreased their price objective on shares of Ferguson from $234.00 to $211.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Berenberg Bank upped their target price on shares of Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $220.10.

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.