Proficio Capital Partners LLC Purchases New Shares in Ferguson plc (NASDAQ:FERG)

Proficio Capital Partners LLC acquired a new position in Ferguson plc (NASDAQ:FERG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 59,535 shares of the company’s stock, valued at approximately $10,333,000.

Several other large investors also recently made changes to their positions in the business. FMR LLC increased its holdings in shares of Ferguson by 3.5% in the third quarter. FMR LLC now owns 8,468,003 shares of the company’s stock valued at $1,668,462,000 after purchasing an additional 288,935 shares in the last quarter. State Street Corp increased its stake in shares of Ferguson by 3.7% in the 3rd quarter. State Street Corp now owns 4,541,079 shares of the company’s stock valued at $905,230,000 after buying an additional 161,662 shares during the period. Geode Capital Management LLC raised its position in shares of Ferguson by 0.8% during the third quarter. Geode Capital Management LLC now owns 3,197,621 shares of the company’s stock worth $633,409,000 after acquiring an additional 25,677 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Ferguson by 6.0% during the third quarter. Franklin Resources Inc. now owns 2,371,954 shares of the company’s stock valued at $477,858,000 after acquiring an additional 133,769 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Ferguson by 423.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,462,836 shares of the company’s stock valued at $290,475,000 after acquiring an additional 1,183,143 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FERG. Berenberg Bank boosted 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. Citigroup dropped their price target on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. UBS Group restated a “neutral” rating and issued a $193.00 price objective (down from $230.00) on shares of Ferguson in a report on Wednesday, January 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $219.00 target price on shares of Ferguson in a report on Wednesday, December 11th. Finally, Zelman & Associates downgraded Ferguson from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 17th. Three 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $217.73.

Ferguson Price Performance

Shares of FERG stock opened at $177.48 on Monday. 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 plc has a 12-month low of $167.27 and a 12-month high of $225.63. The firm has a fifty day moving average of $178.12 and a 200-day moving average of $193.18. The firm has a market capitalization of $35.49 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 1.69 and a beta of 1.24.

Ferguson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Friday, December 20th were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 1.87%. This is a boost from Ferguson’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Friday, December 20th. Ferguson’s payout ratio 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.