Ferguson plc (NASDAQ:FERG) Stock Position Lowered by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its position in Ferguson plc (NASDAQ:FERG) by 12.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 144,153 shares of the company’s stock after selling 21,037 shares during the quarter. New York State Common Retirement Fund’s holdings in Ferguson were worth $25,021,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Mcdonald Partners LLC purchased a new stake in shares of Ferguson in the 4th quarter valued at approximately $309,000. Venturi Wealth Management LLC increased its stake in Ferguson by 8.4% in the 4th quarter. Venturi Wealth Management LLC now owns 1,432 shares of the company’s stock valued at $249,000 after buying an additional 111 shares during the period. CIBC Asset Management Inc increased its stake in Ferguson by 14.3% in the 4th quarter. CIBC Asset Management Inc now owns 8,274 shares of the company’s stock valued at $1,436,000 after buying an additional 1,032 shares during the period. Principal Securities Inc. increased its stake in Ferguson by 6.0% in the 4th quarter. Principal Securities Inc. now owns 3,086 shares of the company’s stock valued at $536,000 after buying an additional 175 shares during the period. Finally, Manchester Capital Management LLC increased its stake in Ferguson by 906.7% in the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock valued at $26,000 after buying an additional 136 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of FERG opened at $175.90 on Friday. Ferguson plc has a 12 month low of $167.27 and a 12 month high of $225.63. The company’s fifty day moving average is $178.64 and its 200-day moving average is $194.10. 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 $35.17 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 1.71 and a beta of 1.24.

Ferguson Increases Dividend

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

Wall Street Analyst Weigh In

FERG has been the topic of several research reports. Barclays dropped their price objective on shares of Ferguson from $234.00 to $211.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company dropped their price objective on shares of Ferguson from $215.00 to $205.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Bank of America upgraded 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. Zelman & Associates lowered shares of Ferguson from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 17th. Finally, UBS Group reiterated a “neutral” rating and issued a $193.00 price objective (down previously from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Ferguson currently has a consensus rating of “Moderate Buy” and an average target price of $217.73.

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.