Lee Financial Co Cuts Stock Holdings in Ferguson plc (NASDAQ:FERG)

Lee Financial Co reduced its stake in Ferguson plc (NASDAQ:FERG) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,371 shares of the company’s stock after selling 104 shares during the quarter. Lee Financial Co’s holdings in Ferguson were worth $1,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of FERG. CWM LLC raised 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. lifted its stake in Ferguson by 32.5% during the third quarter. Principal Financial Group Inc. now owns 32,025 shares of the company’s stock worth $6,359,000 after purchasing an additional 7,862 shares during the last quarter. Neo Ivy Capital Management bought a new stake in Ferguson during the third quarter worth about $970,000. Clean Yield Group boosted its holdings in shares of Ferguson by 27.1% in 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 in the last quarter. Finally, Entropy Technologies LP raised its holdings in shares of Ferguson by 66.2% during 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 currently owned by institutional investors.

Ferguson Stock Performance

Shares of FERG stock opened at $184.29 on Friday. The firm has a market capitalization of $36.85 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.72 and a beta of 1.24. The stock has a fifty day moving average of $180.18 and a 200 day moving average of $194.99. Ferguson plc has a 52 week low of $167.27 and a 52 week high of $225.63. 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 Increases Dividend

The business 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. The ex-dividend date was Friday, December 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.80%. Ferguson’s payout ratio is presently 39.86%.

Analysts Set New Price Targets

FERG has been the subject of several research reports. Berenberg Bank upped their target price on Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. UBS Group reaffirmed a “neutral” rating and set a $193.00 target price (down previously from $230.00) on shares of Ferguson in a report on Wednesday, January 8th. Morgan Stanley started coverage on shares of Ferguson in a research note on Monday, February 3rd. They issued an “overweight” rating and a $204.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $219.00 price objective on shares of Ferguson in a research note on Wednesday, December 11th. Finally, Oppenheimer began coverage on Ferguson in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 target price for the company. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Ferguson has an average 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.