DAVENPORT & Co LLC Sells 770 Shares of Ferguson plc (NASDAQ:FERG)

DAVENPORT & Co LLC lowered its stake in shares of Ferguson plc (NASDAQ:FERG) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,330 shares of the company’s stock after selling 770 shares during the quarter. DAVENPORT & Co LLC’s holdings in Ferguson were worth $5,091,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC increased its position in Ferguson by 303.7% during the third quarter. CWM LLC now owns 4,550 shares of the company’s stock worth $904,000 after acquiring an additional 3,423 shares during the period. Principal Financial Group Inc. increased its holdings in Ferguson by 32.5% in the 3rd quarter. Principal Financial Group Inc. now owns 32,025 shares of the company’s stock valued at $6,359,000 after buying an additional 7,862 shares during the period. Neo Ivy Capital Management bought a new stake in Ferguson in the 3rd quarter valued at $970,000. Clean Yield Group increased its holdings in 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 buying an additional 5,534 shares during the period. Finally, Entropy Technologies LP increased its holdings in 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 buying an additional 20,580 shares during the period. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of FERG stock opened at $183.99 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The stock has a market cap of $36.79 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 1.71 and a beta of 1.24. The stock has a 50-day moving average of $186.39 and a 200-day moving average of $196.88. Ferguson plc has a one year low of $167.27 and a one year high of $225.63.

Ferguson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Friday, December 20th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Friday, December 20th. This is a boost from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.80%. Ferguson’s dividend payout ratio is 39.86%.

Analyst Upgrades and Downgrades

FERG has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on shares of Ferguson from $220.00 to $215.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Robert W. Baird reduced their target price on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. Zelman & Associates downgraded shares of Ferguson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 17th. Berenberg Bank upped their price target 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. Finally, Morgan Stanley began coverage on shares of Ferguson in a research report on Monday. They set an “overweight” rating and a $204.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $218.64.

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.