QRG Capital Management Inc. Decreases Stock Position in Ferguson plc (NASDAQ:FERG)

QRG Capital Management Inc. lessened its stake in Ferguson plc (NASDAQ:FERG) by 11.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,834 shares of the company’s stock after selling 6,548 shares during the period. QRG Capital Management Inc.’s holdings in Ferguson were worth $8,997,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in shares of Ferguson by 32.5% in the third quarter. Principal Financial Group Inc. now owns 32,025 shares of the company’s stock valued at $6,359,000 after acquiring an additional 7,862 shares during the period. Neo Ivy Capital Management purchased a new position in Ferguson during the 3rd quarter valued at about $970,000. Clean Yield Group raised its position in Ferguson by 27.1% during the 4th quarter. Clean Yield Group now owns 25,959 shares of the company’s stock valued at $4,506,000 after purchasing an additional 5,534 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in Ferguson by 79.6% in 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 during the period. Finally, Entropy Technologies LP lifted its holdings in Ferguson by 66.2% in 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 during the period. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Trading Down 0.5 %

NASDAQ FERG opened at $175.21 on Friday. Ferguson plc has a 12 month low of $167.27 and a 12 month high of $225.63. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The stock’s fifty day moving average price is $178.13 and its 200-day moving average price is $193.45. The stock has a market cap of $35.03 billion, a P/E ratio of 21.03, a P/E/G ratio of 1.69 and a beta of 1.24.

Ferguson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Friday, December 20th were paid a dividend of $0.83 per share. 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 1.89%. The ex-dividend date of this dividend was Friday, December 20th. Ferguson’s dividend payout ratio (DPR) is currently 39.86%.

Analyst Ratings Changes

FERG has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their target price on Ferguson from $215.00 to $205.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Zelman & Associates lowered shares of Ferguson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 17th. Morgan Stanley assumed coverage on shares of Ferguson in a research note on Monday, February 3rd. They set an “overweight” rating and a $204.00 target price on the stock. Bank of America raised shares of Ferguson from an “underperform” rating to a “buy” rating and increased their price target for the stock from $185.00 to $225.00 in a research note on Wednesday, January 8th. Finally, UBS Group reaffirmed a “neutral” rating and set a $193.00 price objective (down from $230.00) on shares of Ferguson in a research report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Ferguson currently has an average 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.