Waverton Investment Management Ltd Purchases 132,626 Shares of Ferguson plc (NASDAQ:FERG)

Waverton Investment Management Ltd boosted its holdings in Ferguson plc (NASDAQ:FERG) by 15.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,011,334 shares of the company’s stock after acquiring an additional 132,626 shares during the quarter. Ferguson accounts for approximately 2.8% of Waverton Investment Management Ltd’s holdings, making the stock its 17th largest position. Waverton Investment Management Ltd’s holdings in Ferguson were worth $175,537,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Manchester Capital Management LLC grew its stake in shares of 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 acquiring an additional 136 shares during the period. 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 bought a new stake in Ferguson in the 4th quarter worth approximately $35,000. Capital Performance Advisors LLP purchased a new stake in Ferguson during the 3rd quarter valued at $37,000. Finally, Peterson Financial Group Inc. bought a new position in shares of Ferguson during the 3rd quarter valued at $39,000. 81.98% of the stock is owned by institutional investors.

Ferguson Stock Performance

FERG opened at $175.90 on Monday. The company has a 50 day simple moving average of $178.64 and a two-hundred day simple moving average of $194.05. 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 firm has a market cap of $35.17 billion, a P/E ratio of 21.12, a PEG ratio of 1.69 and a beta of 1.24. Ferguson plc has a 1-year low of $167.27 and a 1-year high of $225.63.

Ferguson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Investors of record on Friday, December 20th were issued a $0.83 dividend. The ex-dividend date was Friday, December 20th. This represents a $3.32 annualized dividend and a yield of 1.89%. This is an increase from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s dividend payout ratio is currently 39.86%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FERG. Morgan Stanley started coverage on Ferguson in a report on Monday, February 3rd. They issued an “overweight” rating and a $204.00 price objective for the company. Robert W. Baird cut their price target on Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $219.00 price target on shares of Ferguson in a research report on Wednesday, December 11th. Barclays dropped their price objective on shares of Ferguson from $234.00 to $211.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Finally, Zelman & Associates cut shares of Ferguson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 17th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $217.73.

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.