West Michigan Advisors LLC Cuts Stock Position in Ferguson plc (NASDAQ:FERG)

West Michigan Advisors LLC cut its stake in shares of Ferguson plc (NASDAQ:FERG) by 6.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,258 shares of the company’s stock after selling 86 shares during the period. West Michigan Advisors LLC’s holdings in Ferguson were worth $219,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FERG. Assenagon Asset Management S.A. lifted its stake in Ferguson by 13.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,764 shares of the company’s stock valued at $1,740,000 after buying an additional 1,033 shares in the last quarter. US Bancorp DE raised its holdings in shares of Ferguson by 25.0% during the third quarter. US Bancorp DE now owns 7,190 shares of the company’s stock valued at $1,428,000 after acquiring an additional 1,440 shares during the last quarter. Reston Wealth Management LLC purchased a new position in shares of Ferguson in the third quarter valued at approximately $40,000. Stephens Inc. AR acquired a new stake in shares of Ferguson in the third quarter worth approximately $234,000. Finally, Farther Finance Advisors LLC increased its position in shares of Ferguson by 33.8% during the third quarter. Farther Finance Advisors LLC now owns 364 shares of the company’s stock worth $72,000 after purchasing an additional 92 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Trading Up 1.3 %

FERG opened at $177.48 on Friday. The stock has a market capitalization of $35.49 billion, a PE ratio of 21.31, a P/E/G ratio of 1.69 and a beta of 1.24. Ferguson plc has a one year low of $167.27 and a one year high of $225.63. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. The business’s 50 day moving average price is $178.12 and its 200 day moving average price is $193.26.

Ferguson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Friday, December 20th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.87%. 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 is 39.86%.

Wall Street Analyst Weigh In

FERG has been the topic of a number of research reports. Barclays decreased their price objective on Ferguson from $234.00 to $211.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Royal Bank of Canada restated an “outperform” rating and set a $219.00 price target on shares of Ferguson in a research report on Wednesday, December 11th. Morgan Stanley initiated coverage on shares of Ferguson in a report on Monday, February 3rd. They issued an “overweight” rating and a $204.00 price objective for the company. Zelman & Associates lowered shares of Ferguson from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Bank of America upgraded Ferguson from an “underperform” rating to a “buy” rating and upped their price target for the company from $185.00 to $225.00 in a research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.