Assenagon Asset Management S.A. raised its position in Ferguson plc (NASDAQ:FERG - Free Report) by 7,632.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 677,684 shares of the company's stock after purchasing an additional 668,920 shares during the quarter. Assenagon Asset Management S.A. owned 0.34% of Ferguson worth $117,626,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Asset Dedication LLC acquired a new position in Ferguson during the 3rd quarter worth about $27,000. True Wealth Design LLC raised its position in shares of Ferguson by 1,350.0% in the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company's stock worth $29,000 after acquiring an additional 135 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Ferguson in the 3rd quarter valued at about $37,000. Peterson Financial Group Inc. bought a new stake in shares of Ferguson during the 3rd quarter valued at about $39,000. Finally, Reston Wealth Management LLC acquired a new stake in Ferguson during the third quarter worth approximately $40,000. 81.98% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
FERG has been the topic of several recent analyst reports. UBS Group reissued a "neutral" rating and issued a $193.00 price target (down from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Oppenheimer initiated coverage on shares of Ferguson in a report on Wednesday, October 23rd. They set an "outperform" rating and a $234.00 price objective on the stock. Bank of America upgraded Ferguson from an "underperform" rating to a "buy" rating and raised their target price for the company from $185.00 to $225.00 in a research note on Wednesday, January 8th. Barclays dropped their price target on Ferguson from $245.00 to $234.00 and set an "overweight" rating on the stock in a research note on Thursday, December 12th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $219.00 price objective on shares of Ferguson in a research note on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $222.40.
Get Our Latest Analysis on FERG
Ferguson Stock Down 0.4 %
Shares of FERG stock traded down $0.75 during trading hours on Wednesday, reaching $175.40. The company had a trading volume of 2,008,432 shares, compared to its average volume of 1,489,193. The business has a fifty day simple moving average of $193.57 and a 200-day simple moving average of $198.52. Ferguson plc has a 12 month low of $167.27 and a 12 month high of $225.63. The company has a market cap of $35.07 billion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00.
Ferguson Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 1.89%. This is an increase from Ferguson's previous quarterly dividend of $0.79. The ex-dividend date is Friday, December 20th. Ferguson's payout ratio is currently 39.86%.
About Ferguson
(
Free Report)
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.
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