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

Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of Ferguson plc (NASDAQ:FERG) by 51.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,060 shares of the company’s stock after selling 5,454 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Ferguson were worth $878,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FERG. Asset Dedication LLC acquired a new stake in Ferguson during the 3rd quarter worth approximately $27,000. True Wealth Design LLC raised its stake in shares of Ferguson by 1,350.0% during 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 acquired a new stake in shares of Ferguson during the fourth quarter worth $35,000. Capital Performance Advisors LLP purchased a new position in Ferguson in the 3rd quarter valued at $37,000. Finally, Peterson Financial Group Inc. acquired a new position in Ferguson in the 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on FERG. Wells Fargo & Company reduced their target price on shares of Ferguson from $215.00 to $205.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. 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 report on Thursday, January 16th. Oppenheimer initiated coverage on Ferguson in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 target price on the stock. UBS Group reissued a “neutral” rating and issued a $193.00 price target (down from $230.00) on shares of Ferguson in a report on Wednesday, January 8th. Finally, Morgan Stanley began coverage on Ferguson in a report on Monday, February 3rd. They set 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.73.

Ferguson Price Performance

Ferguson stock opened at $182.38 on Wednesday. Ferguson plc has a 52 week low of $167.27 and a 52 week high of $225.63. The firm has a market capitalization of $36.47 billion, a PE ratio of 21.89, a P/E/G ratio of 1.72 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The firm’s 50-day simple moving average is $182.30 and its 200 day simple moving average is $195.58.

Ferguson Increases Dividend

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