Fisher Funds Management LTD Buys New Shares in Ferguson plc (NASDAQ:FERG)

Fisher Funds Management LTD bought a new position in Ferguson plc (NASDAQ:FERG) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 96,532 shares of the company’s stock, valued at approximately $16,761,000.

Other large investors have also added to or reduced their stakes in the company. Frank Rimerman Advisors LLC raised its stake in shares of Ferguson by 1.8% in the third quarter. Frank Rimerman Advisors LLC now owns 3,307 shares of the company’s stock worth $657,000 after purchasing an additional 57 shares during the last quarter. Mayflower Financial Advisors LLC raised its position in Ferguson by 3.2% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 1,952 shares of the company’s stock worth $388,000 after buying an additional 61 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Ferguson by 0.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,834 shares of the company’s stock valued at $4,137,000 after acquiring an additional 86 shares during the period. Farther Finance Advisors LLC lifted its stake in Ferguson by 33.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 364 shares of the company’s stock valued at $72,000 after acquiring an additional 92 shares during the period. Finally, Caprock Group LLC boosted its holdings in shares of Ferguson by 2.8% in the 4th quarter. Caprock Group LLC now owns 3,496 shares of the company’s stock valued at $610,000 after acquiring an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FERG shares. Zelman & Associates downgraded shares of Ferguson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 17th. Morgan Stanley began coverage on Ferguson in a report on Monday, February 3rd. They issued an “overweight” rating and a $204.00 price objective for the company. Wells Fargo & Company dropped their target price on Ferguson from $215.00 to $205.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Robert W. Baird reduced their price target on Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. Finally, Barclays lowered their price objective on Ferguson from $234.00 to $211.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and an average target price of $217.73.

Ferguson Stock Down 2.0 %

Ferguson stock 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 stock has a market capitalization of $35.17 billion, a PE ratio of 21.12, a price-to-earnings-growth 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. The business has a 50 day simple moving average of $178.64 and a 200-day simple moving average of $194.06.

Ferguson Increases Dividend

The business also recently disclosed 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 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 yield of 1.89%. Ferguson’s dividend payout ratio is currently 39.86%.

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.