Ferguson plc (NASDAQ:FERG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in shares of Ferguson plc (NASDAQ:FERG) by 21.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,504 shares of the company’s stock after selling 5,758 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ferguson were worth $3,555,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. AMF Tjanstepension AB acquired a new position in Ferguson in the 3rd quarter valued at about $2,523,000. Creative Planning boosted its holdings in Ferguson by 55.0% in the 3rd 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 in the last quarter. OLD National Bancorp IN purchased a new stake in Ferguson in the 3rd quarter valued at approximately $253,000. Signaturefd LLC boosted its holdings in Ferguson by 4.5% in the 3rd quarter. Signaturefd LLC now owns 3,737 shares of the company’s stock valued at $742,000 after purchasing an additional 160 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Ferguson during the 3rd quarter worth approximately $623,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

FERG has been the topic of several research analyst reports. Robert W. Baird decreased their price target on Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $219.00 price target on shares of Ferguson in a report on Wednesday, December 11th. Berenberg Bank upped their price objective on Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Wells Fargo & Company dropped their price objective on Ferguson from $215.00 to $205.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, Bank of America raised shares of Ferguson from an “underperform” rating to a “buy” rating and upped their price target for the stock from $185.00 to $225.00 in a research report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $217.73.

Ferguson Stock Performance

Shares of FERG stock opened at $179.42 on Friday. 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 plc has a one year low of $167.27 and a one year high of $225.63. The company’s 50-day simple moving average is $178.87 and its 200-day simple moving average is $194.24. The stock has a market capitalization of $35.88 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 1.75 and a beta of 1.24.

Ferguson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Investors of record on Friday, December 20th were paid a dividend of $0.83 per share. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. The ex-dividend date was Friday, December 20th. This represents a $3.32 annualized dividend and a yield of 1.85%. Ferguson’s dividend 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.