Ferguson plc (NASDAQ:FERG) Shares Sold by Clio Asset Management LLC

Clio Asset Management LLC lessened its position in Ferguson plc (NASDAQ:FERG) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,685 shares of the company’s stock after selling 1,629 shares during the period. Ferguson comprises about 8.5% of Clio Asset Management LLC’s portfolio, making the stock its 7th largest holding. Clio Asset Management LLC’s holdings in Ferguson were worth $11,575,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. CWM LLC increased its position in Ferguson by 303.7% during the third quarter. CWM LLC now owns 4,550 shares of the company’s stock worth $904,000 after buying an additional 3,423 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Ferguson by 32.5% during the 3rd quarter. Principal Financial Group Inc. now owns 32,025 shares of the company’s stock worth $6,359,000 after acquiring an additional 7,862 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Ferguson during the 3rd quarter worth approximately $970,000. Clean Yield Group raised its stake in Ferguson by 27.1% in the 4th quarter. Clean Yield Group now owns 25,959 shares of the company’s stock valued at $4,506,000 after acquiring an additional 5,534 shares during the period. Finally, Entropy Technologies LP lifted its holdings in 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 purchasing an additional 20,580 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. 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 report on Wednesday, January 8th. Oppenheimer initiated coverage on shares of Ferguson in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price target on the stock. Robert W. Baird cut their price objective on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. UBS Group restated a “neutral” rating and set a $193.00 price objective (down previously from $230.00) on shares of Ferguson in a report on Wednesday, January 8th. Finally, Barclays lowered their target price on Ferguson from $234.00 to $211.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $220.10.

Ferguson Price Performance

Shares of NASDAQ FERG opened at $180.68 on Monday. The business has a fifty day moving average price of $189.28 and a two-hundred day moving average price of $197.93. The stock has a market capitalization of $36.13 billion, a PE ratio of 19.58, a P/E/G ratio of 1.75 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. Ferguson plc has a fifty-two week low of $167.27 and a fifty-two week high of $225.63.

Ferguson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Friday, December 20th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Friday, December 20th. This is an increase from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s payout ratio 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.