CIBC Asset Management Inc Has $1.44 Million Stock Holdings in Ferguson plc (NASDAQ:FERG)

CIBC Asset Management Inc raised its position in shares of Ferguson plc (NASDAQ:FERG) by 14.3% in the 4th quarter, Holdings Channel reports. The firm owned 8,274 shares of the company’s stock after acquiring an additional 1,032 shares during the period. CIBC Asset Management Inc’s holdings in Ferguson were worth $1,436,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB acquired a new position in shares of Ferguson during the 3rd quarter worth $2,523,000. Creative Planning grew its position in Ferguson by 55.0% in the third quarter. Creative Planning now owns 7,404 shares of the company’s stock valued at $1,470,000 after acquiring an additional 2,628 shares during the last quarter. Signaturefd LLC raised its stake in Ferguson by 4.5% during the third quarter. Signaturefd LLC now owns 3,737 shares of the company’s stock worth $742,000 after acquiring an additional 160 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Ferguson in the third quarter worth about $28,390,000. Finally, IFM Investors Pty Ltd acquired a new stake in shares of Ferguson in the 3rd quarter valued at approximately $8,799,000. 81.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FERG shares. Bank of America upgraded shares of Ferguson from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $185.00 to $225.00 in a research report on Wednesday, January 8th. Morgan Stanley started coverage on shares of Ferguson in a report on Monday, February 3rd. They set an “overweight” rating and a $204.00 price target for the company. UBS Group reissued 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. Barclays lowered their target price on Ferguson from $234.00 to $211.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Finally, Berenberg Bank lifted their price target on Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $217.73.

Ferguson Stock Performance

Shares of FERG stock opened at $175.90 on Friday. The stock has a market capitalization of $35.17 billion, a PE ratio of 21.12, a PEG ratio of 1.71 and a beta of 1.24. The business’s 50 day simple moving average is $178.64 and its 200 day simple moving average is $194.10. 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 one year low of $167.27 and a one year high of $225.63.

Ferguson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Friday, December 20th were paid a $0.83 dividend. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Friday, December 20th. 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.