Ferguson plc (NASDAQ:FERG) Shares Sold by West Michigan Advisors LLC

West Michigan Advisors LLC reduced its holdings in shares of Ferguson plc (NASDAQ:FERG) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,258 shares of the company’s stock after selling 86 shares during the period. West Michigan Advisors LLC’s holdings in Ferguson were worth $219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its holdings in shares of Ferguson by 13.4% during the third quarter. Assenagon Asset Management S.A. now owns 8,764 shares of the company’s stock valued at $1,740,000 after acquiring an additional 1,033 shares in the last quarter. US Bancorp DE grew its position in Ferguson by 25.0% during the 3rd quarter. US Bancorp DE now owns 7,190 shares of the company’s stock worth $1,428,000 after purchasing an additional 1,440 shares during the last quarter. Reston Wealth Management LLC acquired a new position in Ferguson during the 3rd quarter valued at approximately $40,000. Stephens Inc. AR purchased a new position in shares of Ferguson in the third quarter worth $234,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Ferguson by 33.8% during the third quarter. Farther Finance Advisors LLC now owns 364 shares of the company’s stock worth $72,000 after buying an additional 92 shares during the period. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Stock Performance

FERG opened at $177.48 on Friday. The firm has a fifty day moving average price of $178.12 and a 200 day moving average price of $193.26. Ferguson plc has a 1 year low of $167.27 and a 1 year high of $225.63. The stock has a market cap of $35.49 billion, a P/E ratio of 21.31, a P/E/G ratio of 1.69 and a beta of 1.24. 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 company also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Stockholders 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 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Friday, December 20th. Ferguson’s dividend payout ratio is presently 39.86%.

Analysts Set New Price Targets

Several research firms recently issued reports on FERG. UBS Group reissued a “neutral” rating and issued a $193.00 target price (down from $230.00) on shares of Ferguson in a research report on Wednesday, January 8th. Zelman & Associates lowered Ferguson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 17th. Citigroup decreased their target price on 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 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. Finally, Berenberg Bank raised their price target on shares of Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $217.73.

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.