Ferguson plc (NASDAQ:FERG) Position Increased by Canoe Financial LP

Canoe Financial LP lifted its position in Ferguson plc (NASDAQ:FERG) by 487.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,204 shares of the company’s stock after acquiring an additional 999 shares during the period. Canoe Financial LP’s holdings in Ferguson were worth $209,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in FERG. Asset Dedication LLC acquired a new stake in Ferguson during the 3rd quarter worth about $27,000. True Wealth Design LLC lifted its position in shares of Ferguson by 1,350.0% in the third quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after purchasing an additional 135 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Ferguson during the third quarter worth approximately $37,000. Peterson Financial Group Inc. acquired a new position in Ferguson in the 3rd quarter valued at approximately $39,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of Ferguson during the third quarter worth $40,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

FERG has been the topic of a number of research reports. Oppenheimer assumed coverage on Ferguson in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price objective on the stock. Bank of America upgraded shares of Ferguson from an “underperform” rating to a “buy” rating and increased their price target for the stock from $185.00 to $225.00 in a research note on Wednesday, January 8th. Wells Fargo & Company reduced their price objective on shares of Ferguson from $220.00 to $215.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. UBS Group reissued a “neutral” rating and set a $193.00 target price (down from $230.00) on shares of Ferguson in a research report on Wednesday, January 8th. Finally, Robert W. Baird decreased their price target on Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $220.10.

Ferguson Price Performance

NASDAQ FERG opened at $177.50 on Friday. The stock has a 50-day simple moving average of $191.58 and a 200 day simple moving average of $198.12. Ferguson plc has a twelve month low of $167.27 and a twelve month high of $225.63. The stock has a market capitalization of $35.49 billion, a PE ratio of 21.31, a P/E/G ratio of 1.60 and a beta of 1.24. 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.83 per share. The ex-dividend date is Friday, December 20th. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.87%. Ferguson’s payout ratio is 39.86%.

Ferguson 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.