Forsta AP Fonden Sells 900 Shares of Ferguson plc (NASDAQ:FERG)

Forsta AP Fonden lessened its stake in shares of Ferguson plc (NASDAQ:FERG) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,100 shares of the company’s stock after selling 900 shares during the period. Forsta AP Fonden’s holdings in Ferguson were worth $11,994,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Frank Rimerman Advisors LLC boosted its stake in Ferguson by 1.8% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 3,307 shares of the company’s stock valued at $657,000 after purchasing an additional 57 shares during the last quarter. Mayflower Financial Advisors LLC lifted its position in Ferguson by 3.2% during the third quarter. Mayflower Financial Advisors LLC now owns 1,952 shares of the company’s stock valued at $388,000 after purchasing an additional 61 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Ferguson by 0.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 23,834 shares of the company’s stock valued at $4,137,000 after purchasing an additional 86 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Ferguson by 33.8% during the third quarter. Farther Finance Advisors LLC now owns 364 shares of the company’s stock valued at $72,000 after acquiring an additional 92 shares during the period. Finally, Commerce Bank raised its holdings in Ferguson by 3.8% during the third quarter. Commerce Bank now owns 2,666 shares of the company’s stock valued at $529,000 after acquiring an additional 97 shares during the period. Institutional investors own 81.98% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on FERG shares. Royal Bank of Canada reissued an “outperform” rating and set a $219.00 price target on shares of Ferguson in a report on Wednesday, December 11th. Citigroup reduced their price objective on Ferguson from $221.00 to $189.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company dropped their target price on Ferguson from $220.00 to $215.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Bank of America upgraded Ferguson from an “underperform” rating to a “buy” rating and boosted their target price for the company from $185.00 to $225.00 in a research report on Wednesday, January 8th. Finally, Oppenheimer began coverage on Ferguson in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price target for the company. Three 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $220.10.

Ferguson Stock Performance

Shares of NASDAQ:FERG opened at $178.90 on Thursday. The firm has a 50 day moving average of $188.08 and a 200 day moving average of $197.57. The company has a market capitalization of $35.77 billion, a price-to-earnings ratio of 19.58, a price-to-earnings-growth ratio of 1.75 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. Ferguson plc has a 52 week low of $167.27 and a 52 week high of $225.63.

Ferguson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Friday, December 20th will be given a dividend of $0.83 per share. The ex-dividend date is Friday, December 20th. This is an increase from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.86%. Ferguson’s dividend payout ratio is presently 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.