Ferguson plc (NASDAQ:FERG) Stake Boosted by Candriam S.C.A.

Candriam S.C.A. grew its stake in shares of Ferguson plc (NASDAQ:FERG) by 8.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,102 shares of the company’s stock after acquiring an additional 5,505 shares during the period. Candriam S.C.A.’s holdings in Ferguson were worth $12,168,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. grew its holdings 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 valued at $6,359,000 after acquiring an additional 7,862 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Ferguson in the 3rd quarter valued at $970,000. Clean Yield Group lifted its stake in shares of 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 purchasing an additional 5,534 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in shares of Ferguson by 79.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 646,954 shares of the company’s stock valued at $134,217,000 after purchasing an additional 286,691 shares during the last quarter. Finally, Entropy Technologies LP lifted its stake in shares of Ferguson by 66.2% in 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 hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on FERG. Zelman & Associates lowered shares of Ferguson from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 17th. Citigroup reduced their price objective on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Morgan Stanley began coverage on shares of Ferguson in a research note on Monday, February 3rd. They issued an “overweight” rating and a $204.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $219.00 price objective on shares of Ferguson in a research note on Wednesday, December 11th. Finally, UBS Group reissued a “neutral” rating and set a $193.00 target price (down previously from $230.00) on shares of Ferguson in a research report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ferguson currently has an average rating of “Moderate Buy” and an average target price of $217.73.

Ferguson Stock Up 0.7 %

Shares of FERG opened at $168.15 on Friday. The company has a 50-day simple moving average of $177.52 and a 200-day simple moving average of $192.32. The firm has a market capitalization of $33.62 billion, a P/E ratio of 20.19, a P/E/G ratio of 1.69 and a beta of 1.28. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. Ferguson plc has a 52 week low of $163.01 and a 52 week high of $225.63.

Ferguson Increases Dividend

The business 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 represents a $3.32 dividend on an annualized basis and a dividend yield of 1.97%. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. 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.