Ieq Capital LLC Has $1.14 Million Stake in Ferguson plc (NASDAQ:FERG)

Ieq Capital LLC grew its position in Ferguson plc (NASDAQ:FERG) by 88.2% during the 4th quarter, HoldingsChannel reports. The firm owned 6,591 shares of the company’s stock after purchasing an additional 3,089 shares during the quarter. Ieq Capital LLC’s holdings in Ferguson were worth $1,144,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in Ferguson by 32.5% during the third quarter. Principal Financial Group Inc. now owns 32,025 shares of the company’s stock worth $6,359,000 after acquiring an additional 7,862 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Ferguson during the 3rd quarter valued at about $970,000. Clean Yield Group grew its position in shares of Ferguson by 27.1% in the 4th quarter. Clean Yield Group now owns 25,959 shares of the company’s stock valued at $4,506,000 after purchasing an additional 5,534 shares during the period. Entropy Technologies LP raised its holdings in Ferguson by 66.2% during the 3rd quarter. Entropy Technologies LP now owns 51,647 shares of the company’s stock worth $10,256,000 after buying an additional 20,580 shares during the period. Finally, Eagle Asset Management Inc. lifted its stake in Ferguson by 79.6% in the third quarter. Eagle Asset Management Inc. now owns 646,954 shares of the company’s stock valued at $134,217,000 after buying an additional 286,691 shares in the last quarter. 81.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FERG. Wells Fargo & Company lowered their price objective on shares of Ferguson from $215.00 to $205.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Zelman & Associates lowered Ferguson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 17th. Bank of America raised Ferguson from an “underperform” rating to a “buy” rating and lifted their target price for the company from $185.00 to $225.00 in a research report on Wednesday, January 8th. Morgan Stanley initiated coverage on Ferguson in a research report on Monday, February 3rd. They set an “overweight” rating and a $204.00 price target for the company. Finally, Robert W. Baird lowered their price objective on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $217.73.

Ferguson Stock Performance

NASDAQ FERG opened at $171.84 on Tuesday. The firm has a market capitalization of $34.36 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 1.69 and a beta of 1.24. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The firm’s fifty day moving average price is $178.36 and its two-hundred day moving average price is $193.87. Ferguson plc has a 1 year low of $167.27 and a 1 year high of $225.63.

Ferguson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Friday, December 20th were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Friday, December 20th. This is an increase from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s 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.