Edge Capital Group LLC Trims Stock Holdings in Ferguson plc (NASDAQ:FERG)

Edge Capital Group LLC reduced its stake in Ferguson plc (NASDAQ:FERG) by 0.7% during the 4th quarter, Holdings Channel reports. The fund owned 23,982 shares of the company’s stock after selling 171 shares during the period. Edge Capital Group LLC’s holdings in Ferguson were worth $4,163,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in FERG. Manchester Capital Management LLC lifted its position in Ferguson by 906.7% during the fourth quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock worth $26,000 after buying an additional 136 shares during the period. True Wealth Design LLC lifted its position in Ferguson by 1,350.0% during the third quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after buying an additional 135 shares during the period. Berbice Capital Management LLC acquired a new stake in Ferguson during the fourth quarter worth about $35,000. Capital Performance Advisors LLP acquired a new stake in Ferguson during the third quarter worth about $37,000. Finally, Peterson Financial Group Inc. acquired a new stake in Ferguson during the third quarter worth about $39,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on FERG. Bank of America upgraded Ferguson from an “underperform” rating to a “buy” rating and upped their price target for the stock from $185.00 to $225.00 in a research note on Wednesday, January 8th. Morgan Stanley began coverage on Ferguson in a research note on Monday, February 3rd. They set an “overweight” rating and a $204.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and set a $219.00 price target on shares of Ferguson in a research note on Wednesday, December 11th. UBS Group restated a “neutral” rating and set a $193.00 price target (down from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Finally, Zelman & Associates lowered Ferguson from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 17th. 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, the company has an average rating of “Moderate Buy” and an average target price of $217.73.

Ferguson Trading Down 2.0 %

NASDAQ:FERG opened at $175.90 on Monday. The company has a market cap of $35.17 billion, a PE ratio of 21.12, a P/E/G ratio of 1.69 and a beta of 1.24. Ferguson plc has a 52 week low of $167.27 and a 52 week high of $225.63. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average is $178.64 and its two-hundred day moving average is $194.05.

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 issued a $0.83 dividend. This is an increase from Ferguson’s previous quarterly dividend of $0.79. The ex-dividend date was Friday, December 20th. This represents a $3.32 annualized dividend and a dividend yield of 1.89%. Ferguson’s dividend payout ratio (DPR) is 39.86%.

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.