Impax Asset Management Group plc Trims Stock Position in Ferguson plc (NASDAQ:FERG)

Impax Asset Management Group plc reduced its stake in Ferguson plc (NASDAQ:FERG) by 4.0% during the 4th quarter, HoldingsChannel reports. The firm owned 65,881 shares of the company’s stock after selling 2,751 shares during the period. Impax Asset Management Group plc’s holdings in Ferguson were worth $11,435,000 as of its most recent filing with the Securities and Exchange Commission.

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

Ferguson Stock Performance

Shares of FERG opened at $171.84 on Tuesday. The company has a 50-day moving average of $178.36 and a two-hundred day moving average of $193.87. The stock has a market cap of $34.36 billion, a P/E ratio of 20.63, a PEG ratio of 1.69 and a beta of 1.24. Ferguson plc has a 12-month low of $167.27 and a 12-month high of $225.63. 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 announced a quarterly dividend, which was paid on Thursday, February 6th. Investors of record on Friday, December 20th were paid a $0.83 dividend. The ex-dividend date was Friday, December 20th. This represents a $3.32 dividend on an annualized basis and a yield of 1.93%. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s dividend payout ratio is presently 39.86%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FERG shares. Barclays dropped their target price on Ferguson from $234.00 to $211.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Wells Fargo & Company dropped their price objective on Ferguson from $215.00 to $205.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Berenberg Bank raised their target price on Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Morgan Stanley initiated coverage on shares of Ferguson in a research note on Monday, February 3rd. They set an “overweight” rating and a $204.00 price target on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $219.00 price objective on shares of Ferguson in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $217.73.

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.