SPC Financial Inc. Increases Position in Ferguson plc (NASDAQ:FERG)

SPC Financial Inc. lifted its holdings in shares of Ferguson plc (NASDAQ:FERG) by 12.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,135 shares of the company’s stock after acquiring an additional 350 shares during the quarter. SPC Financial Inc.’s holdings in Ferguson were worth $544,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. M&T Bank Corp grew its stake in Ferguson by 3.5% in the fourth quarter. M&T Bank Corp now owns 27,040 shares of the company’s stock worth $4,693,000 after purchasing an additional 917 shares in the last quarter. Assetmark Inc. grew its stake in Ferguson by 41.1% in the fourth quarter. Assetmark Inc. now owns 333 shares of the company’s stock worth $58,000 after purchasing an additional 97 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in Ferguson by 97.1% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 6,184 shares of the company’s stock worth $1,074,000 after purchasing an additional 3,047 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Ferguson by 7.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 778,737 shares of the company’s stock worth $135,247,000 after purchasing an additional 52,776 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in Ferguson by 53.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 354 shares of the company’s stock worth $61,000 after purchasing an additional 124 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FERG has been the subject of a number of research reports. Barclays decreased their price target on Ferguson from $234.00 to $211.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Bank of America upgraded Ferguson from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $185.00 to $225.00 in a research note on Wednesday, January 8th. UBS Group restated a “neutral” rating and issued a $193.00 target price (down from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. 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 research note on Tuesday, February 4th. Finally, Zelman & Associates downgraded Ferguson from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 17th. Three investment 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.73.

Ferguson Stock Performance

Shares of NASDAQ FERG opened at $170.42 on Thursday. 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 has a 50 day simple moving average of $177.74 and a 200-day simple moving average of $192.50. The company has a market cap of $34.07 billion, a PE ratio of 20.46, a P/E/G ratio of 1.69 and a beta of 1.28. Ferguson plc has a 12-month low of $167.27 and a 12-month high of $225.63.

Ferguson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Stockholders 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 an increase from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 annualized dividend and a dividend yield of 1.95%. Ferguson’s payout ratio is currently 39.86%.

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.