Essex Financial Services Inc. Cuts Stock Position in Ferguson plc (NASDAQ:FERG)

Essex Financial Services Inc. decreased its holdings in Ferguson plc (NASDAQ:FERG) by 10.9% in the 4th quarter, HoldingsChannel reports. The firm owned 1,207 shares of the company’s stock after selling 147 shares during the quarter. Essex Financial Services Inc.’s holdings in Ferguson were worth $209,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. AMF Tjanstepension AB acquired a new position in shares of Ferguson in the third quarter worth $2,523,000. CWM LLC grew its stake in Ferguson by 303.7% during the 3rd quarter. CWM LLC now owns 4,550 shares of the company’s stock worth $904,000 after purchasing an additional 3,423 shares in the last quarter. Creative Planning increased its holdings in Ferguson by 55.0% during the 3rd quarter. Creative Planning now owns 7,404 shares of the company’s stock worth $1,470,000 after purchasing an additional 2,628 shares during the period. Asset Dedication LLC acquired a new stake in Ferguson in the 3rd quarter valued at about $27,000. Finally, Global Retirement Partners LLC boosted its stake in shares of Ferguson by 3.9% in the 3rd quarter. Global Retirement Partners LLC now owns 3,357 shares of the company’s stock valued at $667,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Up 0.4 %

FERG stock opened at $184.29 on Friday. Ferguson plc has a 12 month low of $167.27 and a 12 month high of $225.63. 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 company has a market cap of $36.85 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.72 and a beta of 1.24. The company has a fifty day moving average price of $180.18 and a 200 day moving average price of $195.16.

Ferguson Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FERG. Zelman & Associates cut shares of Ferguson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 17th. Barclays decreased their price objective 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. Wells Fargo & Company dropped their target price on Ferguson from $215.00 to $205.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Oppenheimer initiated coverage on Ferguson in a report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price target for the company. Finally, Morgan Stanley initiated coverage on Ferguson in a research report on Monday, February 3rd. They set an “overweight” rating and a $204.00 target price on the stock. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus 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.