M&T Bank Corp Boosts Stock Holdings in Ferguson plc (NASDAQ:FERG)

M&T Bank Corp grew its position in shares of Ferguson plc (NASDAQ:FERG) by 3.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 27,040 shares of the company’s stock after purchasing an additional 917 shares during the period. M&T Bank Corp’s holdings in Ferguson were worth $4,693,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FERG. Manchester Capital Management LLC boosted its holdings in Ferguson by 906.7% in the fourth quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock worth $26,000 after purchasing an additional 136 shares during the last quarter. True Wealth Design LLC boosted its holdings in 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 during the last quarter. Berbice Capital Management LLC purchased a new stake in Ferguson in the fourth quarter worth approximately $35,000. Capital Performance Advisors LLP purchased a new stake in Ferguson in the third quarter worth approximately $37,000. Finally, Peterson Financial Group Inc. purchased a new stake in Ferguson in the third quarter worth approximately $39,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FERG shares. UBS Group restated a “neutral” rating and issued a $193.00 target price (down previously from $230.00) on shares of Ferguson in a report on Wednesday, January 8th. Bank of America upgraded shares of Ferguson from an “underperform” rating to a “buy” rating and raised their target price for the stock from $185.00 to $225.00 in a report on Wednesday, January 8th. Morgan Stanley started coverage on shares of Ferguson in a research report on Monday, February 3rd. They issued an “overweight” rating and a $204.00 price target on the stock. Robert W. Baird decreased their price target on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Finally, Citigroup decreased their price target 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. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $217.73.

Ferguson Stock Up 0.7 %

Shares of FERG stock opened at $168.15 on Friday. The company has a market capitalization of $33.62 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 1.69 and a beta of 1.28. Ferguson plc has a one year low of $163.01 and a one year high of $225.63. The company’s fifty day moving average price is $177.52 and its 200-day moving average price is $192.32. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91.

Ferguson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Friday, December 20th were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 1.97%. This is an increase from Ferguson’s previous quarterly dividend of $0.79. The ex-dividend date was Friday, December 20th. Ferguson’s dividend payout ratio (DPR) 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.