Aigen Investment Management LP Reduces Stock Holdings in Ferguson plc (NASDAQ:FERG)

Aigen Investment Management LP reduced its holdings in Ferguson plc (NASDAQ:FERG) by 33.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,463 shares of the company’s stock after selling 4,267 shares during the period. Aigen Investment Management LP’s holdings in Ferguson were worth $1,469,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. US Bancorp DE lifted its stake in shares of Ferguson by 25.0% in the 3rd quarter. US Bancorp DE now owns 7,190 shares of the company’s stock valued at $1,428,000 after purchasing an additional 1,440 shares during the period. Stephens Inc. AR acquired a new position in shares of Ferguson in the 3rd quarter valued at $234,000. Farther Finance Advisors LLC lifted its stake in shares of Ferguson by 33.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 364 shares of the company’s stock valued at $72,000 after purchasing an additional 92 shares during the period. Van ECK Associates Corp lifted its stake in shares of Ferguson by 17.8% in the 3rd quarter. Van ECK Associates Corp now owns 44,839 shares of the company’s stock valued at $8,765,000 after purchasing an additional 6,767 shares during the period. Finally, Amalgamated Bank lifted its stake in shares of Ferguson by 72.2% in the 3rd quarter. Amalgamated Bank now owns 19,382 shares of the company’s stock valued at $3,849,000 after purchasing an additional 8,124 shares during the period. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Trading Up 1.2 %

Shares of FERG opened at $170.42 on Thursday. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. Ferguson plc has a 12-month low of $167.27 and a 12-month high of $225.63. The firm has a 50-day moving average price of $177.74 and a 200 day moving average price of $192.50. The firm has a market capitalization of $34.07 billion, a P/E ratio of 20.46, a P/E/G ratio of 1.69 and a beta of 1.28.

Ferguson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Friday, December 20th were paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s dividend payout ratio (DPR) is 39.86%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Bank of America upgraded shares of Ferguson from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $185.00 to $225.00 in a research report on Wednesday, January 8th. Wells Fargo & Company reduced their price objective on shares of Ferguson from $215.00 to $205.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Robert W. Baird dropped their target price on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Morgan Stanley assumed coverage on shares of Ferguson in a report on Monday, February 3rd. They set an “overweight” rating and a $204.00 target price for the company. Finally, UBS Group reaffirmed a “neutral” rating and set a $193.00 target price (down previously from $230.00) on shares of Ferguson in a report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $217.73.

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.