Hilltop National Bank Buys New Stake in Ferguson plc (NASDAQ:FERG)

Hilltop National Bank bought a new stake in Ferguson plc (NASDAQ:FERG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 576 shares of the company’s stock, valued at approximately $100,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its position in Ferguson by 3.5% in the third quarter. FMR LLC now owns 8,468,003 shares of the company’s stock valued at $1,668,462,000 after buying an additional 288,935 shares in the last quarter. State Street Corp lifted its position in shares of Ferguson by 3.7% during the third quarter. State Street Corp now owns 4,541,079 shares of the company’s stock worth $905,230,000 after purchasing an additional 161,662 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Ferguson by 0.8% during the third quarter. Geode Capital Management LLC now owns 3,197,621 shares of the company’s stock worth $633,409,000 after purchasing an additional 25,677 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Ferguson by 6.0% during the third quarter. Franklin Resources Inc. now owns 2,371,954 shares of the company’s stock worth $477,858,000 after purchasing an additional 133,769 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Ferguson by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,563,558 shares of the company’s stock worth $302,781,000 after purchasing an additional 153,757 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of FERG stock opened at $170.10 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.80. The company has a market capitalization of $34.01 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.90 and a beta of 1.24. Ferguson plc has a 52 week low of $169.64 and a 52 week high of $225.63. The company has a 50-day simple moving average of $194.66 and a 200 day simple moving average of $198.71.

Ferguson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Friday, December 20th will be issued a $0.83 dividend. The ex-dividend date is Friday, December 20th. This represents a $3.32 dividend on an annualized basis and a yield of 1.95%. This is an increase from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s payout ratio is currently 39.86%.

Insider Buying and Selling at Ferguson

In other news, insider Ian T. Graham sold 5,778 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.27, for a total value of $1,162,938.06. Following the completion of the transaction, the insider now directly owns 5,938 shares in the company, valued at approximately $1,195,141.26. The trade was a 49.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael Jacobs sold 2,624 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $200.96, for a total transaction of $527,319.04. Following the transaction, the vice president now owns 1,116 shares of the company’s stock, valued at approximately $224,271.36. This represents a 70.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,313 shares of company stock valued at $2,477,901 in the last quarter. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

FERG has been the topic of a number of research reports. Barclays reduced their target price on shares of Ferguson from $245.00 to $234.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Citigroup lowered their price objective on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Berenberg Bank increased their price objective on shares of Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Oppenheimer initiated coverage on shares of Ferguson in a research report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 target price for the company. Finally, Robert W. Baird decreased 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. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $222.40.

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.