Boston Common Asset Management LLC Reduces Holdings in Ferguson plc (NASDAQ:FERG)

Boston Common Asset Management LLC lowered its position in shares of Ferguson plc (NASDAQ:FERG) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,789 shares of the company’s stock after selling 218 shares during the period. Boston Common Asset Management LLC’s holdings in Ferguson were worth $1,177,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Asset Dedication LLC purchased a new stake in shares of Ferguson during the third quarter valued at approximately $27,000. True Wealth Design LLC grew its position in shares of Ferguson by 1,350.0% during the third quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after buying an additional 135 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Ferguson during the third quarter worth approximately $37,000. Peterson Financial Group Inc. acquired a new stake in shares of Ferguson during the third quarter worth approximately $39,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Ferguson during the third quarter worth approximately $40,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $219.00 price target on shares of Ferguson in a research report on Wednesday, December 11th. Citigroup decreased their price target 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. Barclays decreased their price target on shares of Ferguson from $234.00 to $211.00 and set an “overweight” rating for the company in a research report on Thursday. Oppenheimer started coverage on shares of Ferguson in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price objective for the company. Finally, Berenberg Bank lifted their price objective on shares of Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $220.10.

Ferguson Price Performance

Shares of FERG opened at $177.50 on Friday. The business’s 50-day moving average is $191.58 and its 200-day moving average is $198.12. Ferguson plc has a fifty-two week low of $167.27 and a fifty-two week high of $225.63. The company has a market capitalization of $35.49 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 1.60 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 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 dividend on an annualized basis and a yield of 1.87%. This is an increase from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s dividend payout ratio is currently 39.86%.

Ferguson 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.