Venturi Wealth Management LLC Raises Holdings in Ferguson plc (NASDAQ:FERG)

Venturi Wealth Management LLC grew its position in Ferguson plc (NASDAQ:FERG) by 8.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,432 shares of the company’s stock after buying an additional 111 shares during the quarter. Venturi Wealth Management LLC’s holdings in Ferguson were worth $249,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in 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 buying an additional 7,862 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in Ferguson in the third quarter valued at about $970,000. Clean Yield Group raised its stake in 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 buying an additional 5,534 shares during the last quarter. Entropy Technologies LP raised its stake in 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 buying an additional 20,580 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its stake in 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 buying an additional 286,691 shares during the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Stock Down 2.0 %

Ferguson stock opened at $175.90 on Friday. The firm has a market cap of $35.17 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 1.71 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 business’s 50-day moving average price is $178.64 and its 200 day moving average price is $194.10. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83.

Ferguson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Friday, December 20th were issued a $0.83 dividend. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Friday, December 20th. Ferguson’s dividend payout ratio (DPR) is presently 39.86%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FERG. Berenberg Bank increased their price objective on Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Wells Fargo & Company cut their price objective on Ferguson from $215.00 to $205.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Robert W. Baird cut their price objective on Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Citigroup cut their price objective on Ferguson from $221.00 to $189.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, Morgan Stanley began coverage on Ferguson in a report on Monday, February 3rd. They issued an “overweight” rating and a $204.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.