Tran Capital Management L.P. Has $38.73 Million Stake in Ferguson plc (NASDAQ:FERG)

Tran Capital Management L.P. trimmed its holdings in Ferguson plc (NASDAQ:FERG) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 223,132 shares of the company’s stock after selling 10,148 shares during the period. Ferguson comprises about 4.4% of Tran Capital Management L.P.’s holdings, making the stock its 10th largest position. Tran Capital Management L.P. owned approximately 0.11% of Ferguson worth $38,729,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FERG. Asset Dedication LLC acquired a new position in Ferguson during the 3rd quarter valued at about $27,000. True Wealth Design LLC lifted its holdings in shares of Ferguson by 1,350.0% in the third quarter. True Wealth Design LLC now owns 145 shares of the company’s stock valued at $29,000 after purchasing an additional 135 shares in the last quarter. Berbice Capital Management LLC purchased a new position in shares of Ferguson during the fourth quarter valued at approximately $35,000. Capital Performance Advisors LLP bought a new stake in Ferguson during the third quarter worth $37,000. Finally, Peterson Financial Group Inc. purchased a new stake in Ferguson in the 3rd quarter valued at $39,000. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FERG has been the topic of a number of analyst reports. Robert W. Baird cut their price objective on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Bank of America upgraded shares of Ferguson from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $185.00 to $225.00 in a report on Wednesday, January 8th. Wells Fargo & Company decreased their price objective on shares of Ferguson from $220.00 to $215.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Oppenheimer assumed coverage on Ferguson in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 target price on the stock. Finally, Barclays decreased their price target on Ferguson from $234.00 to $211.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ferguson presently has an average rating of “Moderate Buy” and an average price target of $220.10.

Ferguson Stock Performance

NASDAQ:FERG opened at $180.68 on Friday. The company has a market capitalization of $36.13 billion, a P/E ratio of 19.58, a P/E/G ratio of 1.75 and a beta of 1.24. The business has a fifty day simple moving average of $189.28 and a two-hundred day simple moving average of $197.89. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. Ferguson plc has a 1 year low of $167.27 and a 1 year high of $225.63.

Ferguson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Friday, December 20th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $3.32 annualized dividend and a yield of 1.84%. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s dividend payout ratio (DPR) is 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.