Essex Financial Services Inc. Cuts Position in Ferguson plc (NASDAQ:FERG)

Essex Financial Services Inc. lowered its holdings in shares of Ferguson plc (NASDAQ:FERG) by 10.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,207 shares of the company’s stock after selling 147 shares during the quarter. Essex Financial Services Inc.’s holdings in Ferguson were worth $209,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. CWM LLC lifted its position in shares of Ferguson by 303.7% during the 3rd quarter. CWM LLC now owns 4,550 shares of the company’s stock valued at $904,000 after buying an additional 3,423 shares in the last quarter. Principal Financial Group Inc. grew 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 purchasing an additional 7,862 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Ferguson during the third quarter worth about $970,000. Clean Yield Group raised its position in shares of Ferguson by 27.1% during the 4th quarter. Clean Yield Group now owns 25,959 shares of the company’s stock worth $4,506,000 after purchasing an additional 5,534 shares during the last quarter. Finally, Entropy Technologies LP lifted its stake in Ferguson by 66.2% in the 3rd quarter. Entropy Technologies LP now owns 51,647 shares of the company’s stock valued at $10,256,000 after buying an additional 20,580 shares in the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Robert W. Baird reduced their target price on Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Citigroup decreased their price objective on Ferguson from $221.00 to $189.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Zelman & Associates lowered shares of Ferguson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 17th. UBS Group reissued a “neutral” rating and issued a $193.00 price target (down from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Finally, Bank of America raised shares of Ferguson from an “underperform” rating to a “buy” rating and upped their price objective for the company from $185.00 to $225.00 in a research note on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $217.73.

Ferguson Price Performance

NASDAQ:FERG opened at $184.29 on Friday. The company has a market capitalization of $36.85 billion, a P/E ratio of 22.12, a P/E/G ratio of 1.72 and a beta of 1.24. 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 plc has a 52 week low of $167.27 and a 52 week high of $225.63. The stock’s fifty day moving average is $180.18 and its two-hundred day moving average is $195.16.

Ferguson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Friday, December 20th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.80%. Ferguson’s dividend payout ratio (DPR) is currently 39.86%.

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.