Ferguson plc (NASDAQ:FERG) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. reduced its position in shares of Ferguson plc (NASDAQ:FERG) by 51.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,060 shares of the company’s stock after selling 5,454 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Ferguson were worth $878,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Ferguson by 423.0% during the third 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 acquiring an additional 1,183,143 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Ferguson by 7,632.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 677,684 shares of the company’s stock worth $117,626,000 after purchasing an additional 668,920 shares during the period. Southpoint Capital Advisors LP boosted its holdings in shares of Ferguson by 133.3% during the third quarter. Southpoint Capital Advisors LP now owns 700,000 shares of the company’s stock worth $138,999,000 after purchasing an additional 400,000 shares during the last quarter. Barclays PLC grew its position in shares of Ferguson by 76.9% in the third quarter. Barclays PLC now owns 867,593 shares of the company’s stock valued at $172,281,000 after purchasing an additional 377,283 shares during the period. Finally, SG Americas Securities LLC increased its stake in Ferguson by 910.3% in the fourth quarter. SG Americas Securities LLC now owns 366,015 shares of the company’s stock valued at $63,529,000 after purchasing an additional 329,786 shares during the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on FERG shares. UBS Group reissued a “neutral” rating and issued a $193.00 price target (down from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Citigroup decreased their target price on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company dropped their price target 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. Barclays decreased their price target on shares of Ferguson from $234.00 to $211.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Finally, Berenberg Bank upped their price objective on Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.73.

Ferguson Stock Performance

Ferguson stock opened at $182.38 on Wednesday. The firm has a market capitalization of $36.47 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 1.72 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 stock’s 50 day moving average price is $182.30 and its 200 day moving average price is $195.58. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68.

Ferguson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Friday, December 20th were given a $0.83 dividend. This is a boost from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Friday, December 20th. Ferguson’s dividend payout ratio is presently 39.86%.

Ferguson Company Profile

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.