Financial Advocates Investment Management Makes New Investment in Ferguson plc (NASDAQ:FERG)

Financial Advocates Investment Management bought a new position in shares of Ferguson plc (NASDAQ:FERG) during the 4th quarter, HoldingsChannel reports. The firm bought 1,224 shares of the company’s stock, valued at approximately $212,000.

Several other institutional investors have also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 worth $290,475,000 after purchasing an additional 1,183,143 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Ferguson by 7,632.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 677,684 shares of the company’s stock worth $117,626,000 after purchasing an additional 668,920 shares during the period. Southpoint Capital Advisors LP increased its holdings in shares of Ferguson by 133.3% in the third quarter. Southpoint Capital Advisors LP now owns 700,000 shares of the company’s stock worth $138,999,000 after purchasing an additional 400,000 shares during the period. Barclays PLC increased its holdings in shares of Ferguson by 76.9% in the third quarter. Barclays PLC now owns 867,593 shares of the company’s stock worth $172,281,000 after purchasing an additional 377,283 shares during the period. Finally, SG Americas Securities LLC increased its holdings in shares of Ferguson by 910.3% in the fourth quarter. SG Americas Securities LLC now owns 366,015 shares of the company’s stock worth $63,529,000 after purchasing an additional 329,786 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Up 2.1 %

Shares of NASDAQ:FERG opened at $180.91 on Tuesday. The stock’s 50-day moving average price is $183.07 and its 200-day moving average price is $195.83. Ferguson plc has a 12-month low of $167.27 and a 12-month high of $225.63. The stock has a market capitalization of $36.17 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 1.72 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.

Ferguson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Friday, December 20th were paid a dividend of $0.83 per share. This is a boost from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend was Friday, December 20th. Ferguson’s dividend payout ratio (DPR) is 39.86%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FERG. Citigroup decreased their price target on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company decreased their price target on shares of Ferguson from $215.00 to $205.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Oppenheimer started coverage on Ferguson in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 target price on the stock. Morgan Stanley started coverage on Ferguson in a research note on Monday, February 3rd. They issued an “overweight” rating and a $204.00 target price on the stock. Finally, Robert W. Baird reduced their target price on Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.