Ferguson plc (NASDAQ:FERG) Shares Sold by abrdn plc

abrdn plc lessened its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 32.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 512,646 shares of the company's stock after selling 251,745 shares during the period. abrdn plc owned approximately 0.26% of Ferguson worth $89,013,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Asset Dedication LLC acquired a new stake in shares of Ferguson during the third quarter worth about $27,000. 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 valued at $29,000 after purchasing an additional 135 shares during the last quarter. Berbice Capital Management LLC acquired a new stake in Ferguson during the 4th quarter worth about $35,000. Capital Performance Advisors LLP acquired a new position in shares of Ferguson in the 3rd quarter valued at about $37,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Ferguson in the third quarter worth about $39,000. Institutional investors and hedge funds own 81.98% of the company's stock.

Wall Street Analyst Weigh In

FERG has been the subject of several recent research reports. Robert W. Baird reduced their price target on Ferguson from $230.00 to $225.00 and set an "outperform" rating for the company in a research report on Wednesday, December 11th. Berenberg Bank boosted their target price on shares of Ferguson from $224.00 to $240.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Zelman & Associates cut Ferguson from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 17th. Barclays cut their price target on shares of Ferguson from $234.00 to $211.00 and set an "overweight" rating for the company in a report on Thursday, January 16th. Finally, UBS Group reaffirmed a "neutral" rating and set a $193.00 price objective (down from $230.00) on shares of Ferguson in a report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ferguson currently has a consensus rating of "Moderate Buy" and a consensus price target of $217.73.

Ferguson Price Performance

FERG stock traded down $0.91 during mid-day trading on Thursday, reaching $182.08. The company's stock had a trading volume of 962,570 shares, compared to its average volume of 1,525,003. The stock has a market cap of $36.41 billion, a PE ratio of 21.86, a P/E/G ratio of 1.71 and a beta of 1.24. The company's 50 day moving average is $184.51 and its two-hundred day moving average is $196.49. Ferguson plc has a fifty-two week low of $167.27 and a fifty-two week 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Friday, December 20th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.82%. This is a positive change from Ferguson's previous quarterly dividend of $0.79. Ferguson's dividend payout ratio is currently 39.86%.

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.