Dakota Wealth Management Cuts Stake in Ferguson plc (NASDAQ:FERG)

Dakota Wealth Management cut its stake in Ferguson plc (NASDAQ:FERG) by 4.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,177 shares of the company’s stock after selling 90 shares during the quarter. Dakota Wealth Management’s holdings in Ferguson were worth $378,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FERG. FMR LLC lifted its position in shares of 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 acquiring an additional 288,935 shares in the last quarter. State Street Corp raised its stake in Ferguson by 3.7% in the 3rd quarter. State Street Corp now owns 4,541,079 shares of the company’s stock valued at $905,230,000 after purchasing an additional 161,662 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Ferguson by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,197,621 shares of the company’s stock valued at $633,409,000 after purchasing an additional 25,677 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Ferguson by 6.0% in the 3rd quarter. Franklin Resources Inc. now owns 2,371,954 shares of the company’s stock valued at $477,858,000 after purchasing an additional 133,769 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Ferguson by 423.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,462,836 shares of the company’s stock worth $290,475,000 after purchasing an additional 1,183,143 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Stock Performance

NASDAQ FERG opened at $180.68 on Friday. The stock has a fifty day simple moving average of $189.28 and a 200-day simple moving average of $197.89. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The stock has a market cap of $36.13 billion, a PE ratio of 21.69, a P/E/G ratio of 1.75 and a beta of 1.24. Ferguson plc has a twelve month low of $167.27 and a twelve month high of $225.63.

Ferguson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 1.84%. The ex-dividend date is 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%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FERG. Barclays reduced their target price on shares of Ferguson from $234.00 to $211.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Berenberg Bank raised their target price on shares of Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Oppenheimer assumed coverage on Ferguson in a research report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $219.00 price objective on shares of Ferguson in a research report on Wednesday, December 11th. Finally, Citigroup dropped their target price on Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and a consensus target price of $220.10.

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.