Oppenheimer Asset Management Inc. Cuts Stock Position in Ferguson plc (NASDAQ:FERG)

Oppenheimer Asset Management Inc. cut its holdings in Ferguson plc (NASDAQ:FERG) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,659 shares of the company’s stock after selling 188 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Ferguson were worth $5,495,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of FERG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 purchasing an additional 1,183,143 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in Ferguson by 339.9% during the fourth quarter. Vontobel Holding Ltd. now owns 1,234,776 shares of the company’s stock worth $214,320,000 after buying an additional 954,092 shares during the period. Assenagon Asset Management S.A. boosted its stake in Ferguson by 7,632.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 677,684 shares of the company’s stock worth $117,626,000 after buying an additional 668,920 shares during the period. Southpoint Capital Advisors LP boosted its stake in Ferguson by 133.3% during the third quarter. Southpoint Capital Advisors LP now owns 700,000 shares of the company’s stock worth $138,999,000 after buying an additional 400,000 shares during the period. Finally, Barclays PLC boosted its stake in Ferguson by 76.9% during the third quarter. Barclays PLC now owns 867,593 shares of the company’s stock worth $172,281,000 after buying an additional 377,283 shares during the period. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Stock Performance

FERG stock opened at $177.48 on Friday. 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 business has a 50-day moving average price of $178.12 and a 200 day moving average price of $193.33. The company has a market capitalization of $35.49 billion, a P/E ratio of 21.31, 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 disclosed a quarterly dividend, which was paid on Thursday, February 6th. Investors of record on Friday, December 20th were issued a $0.83 dividend. This is an increase from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, December 20th. Ferguson’s payout ratio is presently 39.86%.

Analysts Set New Price Targets

FERG has been the subject of several recent analyst reports. Citigroup dropped their price objective 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. Wells Fargo & Company dropped their price objective on shares of Ferguson from $215.00 to $205.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Berenberg Bank lifted their price objective on shares of Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. UBS Group reaffirmed a “neutral” rating and set a $193.00 price objective (down from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $219.00 target price on shares of Ferguson in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Ferguson has a consensus rating of “Moderate Buy” and an average target price of $217.73.

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.