Truist Financial Corp Lowers Stake in Ferguson plc (NASDAQ:FERG)

Truist Financial Corp reduced its holdings in shares of Ferguson plc (NASDAQ:FERG) by 12.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 231,676 shares of the company’s stock after selling 34,227 shares during the period. Truist Financial Corp owned approximately 0.12% of Ferguson worth $40,212,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Principal Financial Group Inc. boosted its holdings in shares of Ferguson by 32.5% in the third quarter. Principal Financial Group Inc. now owns 32,025 shares of the company’s stock valued at $6,359,000 after acquiring an additional 7,862 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Ferguson in the third quarter valued at about $970,000. Clean Yield Group boosted its holdings in shares of Ferguson by 27.1% in the fourth quarter. Clean Yield Group now owns 25,959 shares of the company’s stock valued at $4,506,000 after acquiring an additional 5,534 shares in the last quarter. Entropy Technologies LP boosted its holdings in shares of Ferguson by 66.2% in the third quarter. Entropy Technologies LP now owns 51,647 shares of the company’s stock valued at $10,256,000 after acquiring an additional 20,580 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its holdings in shares of Ferguson by 79.6% in the third quarter. Eagle Asset Management Inc. now owns 646,954 shares of the company’s stock valued at $134,217,000 after acquiring an additional 286,691 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Stock Performance

Shares of FERG opened at $185.79 on Wednesday. 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 $37.15 billion, a P/E ratio of 22.30, a PEG ratio of 1.72 and a beta of 1.24. The company has a 50-day moving average of $179.33 and a two-hundred day moving average of $194.44. Ferguson plc has a 12-month low of $167.27 and a 12-month high of $225.63.

Ferguson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Friday, December 20th were given a dividend of $0.83 per share. The ex-dividend date was Friday, December 20th. This represents a $3.32 dividend on an annualized basis and a yield of 1.79%. This is a boost from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s payout ratio is presently 39.86%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FERG shares. Zelman & Associates downgraded shares of Ferguson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 17th. Berenberg Bank lifted their target price on shares of Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Oppenheimer began coverage on shares of Ferguson in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price objective for the company. Barclays reduced their price objective on shares of Ferguson from $234.00 to $211.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Finally, Citigroup reduced their price objective on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ferguson has a consensus rating of “Moderate Buy” and an average price target of $217.73.

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.