Chesley Taft & Associates LLC Has $1.08 Million Holdings in Ferguson plc (NASDAQ:FERG)

Chesley Taft & Associates LLC grew its holdings in Ferguson plc (NASDAQ:FERG) by 46.2% in the 4th quarter, Holdings Channel reports. The fund owned 6,215 shares of the company’s stock after purchasing an additional 1,965 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Ferguson were worth $1,079,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of FERG. Asset Dedication LLC acquired a new position in Ferguson during the 3rd quarter valued at $27,000. True Wealth Design LLC increased its holdings in shares of Ferguson by 1,350.0% during the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after purchasing an additional 135 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Ferguson during the third quarter valued at about $37,000. Peterson Financial Group Inc. bought a new stake in shares of Ferguson in the third quarter valued at about $39,000. Finally, Reston Wealth Management LLC acquired a new stake in Ferguson during the third quarter worth about $40,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Price Performance

NASDAQ:FERG opened at $182.28 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The firm has a market cap of $36.45 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 1.68 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’s 50-day moving average price is $190.48 and its two-hundred day moving average price is $198.08.

Ferguson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Friday, December 20th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, December 20th. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a yield of 1.82%. Ferguson’s dividend payout ratio is 39.86%.

Wall Street Analyst Weigh In

Several equities analysts have commented on FERG shares. Zelman & Associates cut Ferguson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 17th. Citigroup reduced their target price on Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Robert W. Baird lowered 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. Royal Bank of Canada restated an “outperform” rating and issued a $219.00 price objective on shares of Ferguson in a research note on Wednesday, December 11th. Finally, Barclays decreased their target price 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. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ferguson currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.10.

Ferguson Company 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.