Van ECK Associates Corp Trims Stock Holdings in Ferguson plc (NASDAQ:FERG)

Van ECK Associates Corp trimmed its holdings in shares of Ferguson plc (NASDAQ:FERG) by 9.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 40,521 shares of the company’s stock after selling 4,318 shares during the period. Van ECK Associates Corp’s holdings in Ferguson were worth $7,034,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FERG. AMF Tjanstepension AB purchased a new position in shares of Ferguson in the third quarter worth $2,523,000. Creative Planning raised its holdings in shares of Ferguson by 55.0% during the third quarter. Creative Planning now owns 7,404 shares of the company’s stock valued at $1,470,000 after purchasing an additional 2,628 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in Ferguson by 3.9% in the third quarter. Global Retirement Partners LLC now owns 3,357 shares of the company’s stock worth $667,000 after purchasing an additional 125 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Ferguson by 10.8% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,729 shares of the company’s stock worth $3,719,000 after purchasing an additional 1,832 shares during the period. Finally, Blue Trust Inc. raised its stake in Ferguson by 21.3% during the 3rd quarter. Blue Trust Inc. now owns 2,298 shares of the company’s stock valued at $445,000 after buying an additional 403 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barclays dropped their price target on shares of Ferguson from $234.00 to $211.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. UBS Group reissued a “neutral” rating and issued a $193.00 target price (down from $230.00) on shares of Ferguson in a report on Wednesday, January 8th. Citigroup lowered their price target on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Zelman & Associates downgraded shares of Ferguson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 17th. Finally, Bank of America raised shares of Ferguson from an “underperform” rating to a “buy” rating and upped their target price for the stock from $185.00 to $225.00 in a report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Ferguson currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.73.

Ferguson Stock Up 0.4 %

NASDAQ:FERG opened at $184.29 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The company has a 50-day moving average of $179.51 and a 200 day moving average of $194.57. Ferguson plc has a 1-year low of $167.27 and a 1-year high of $225.63. The firm has a market cap of $36.85 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 1.72 and a beta of 1.24.

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 $0.83 dividend. The ex-dividend date was Friday, December 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.80%. This is an increase from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s payout ratio is presently 39.86%.

About Ferguson

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.