Empowered Funds LLC Sells 16,558 Shares of Ferguson plc (NASDAQ:FERG)

Empowered Funds LLC trimmed its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 52.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,913 shares of the company's stock after selling 16,558 shares during the quarter. Empowered Funds LLC's holdings in Ferguson were worth $2,588,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. FMR LLC increased its position in Ferguson by 3.5% during the third quarter. FMR LLC now owns 8,468,003 shares of the company's stock worth $1,668,462,000 after acquiring an additional 288,935 shares during the period. State Street Corp grew its stake in Ferguson by 3.7% during the third quarter. State Street Corp now owns 4,541,079 shares of the company's stock worth $905,230,000 after buying an additional 161,662 shares in the last quarter. Geode Capital Management LLC grew its stake in Ferguson by 0.8% during the third quarter. Geode Capital Management LLC now owns 3,197,621 shares of the company's stock worth $633,409,000 after buying an additional 25,677 shares in the last quarter. Franklin Resources Inc. grew its stake in Ferguson by 6.0% during the third quarter. Franklin Resources Inc. now owns 2,371,954 shares of the company's stock worth $477,858,000 after buying an additional 133,769 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Ferguson by 423.0% during 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 buying an additional 1,183,143 shares in the last quarter. 81.98% of the stock is owned by institutional investors.

Ferguson Trading Up 0.4 %

NASDAQ:FERG traded up $0.78 during mid-day trading on Monday, hitting $184.29. 1,112,303 shares of the company's stock were exchanged, compared to its average volume of 1,529,043. The company has a 50 day simple moving average of $179.51 and a 200-day simple moving average of $194.57. 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 plc has a fifty-two week low of $167.27 and a fifty-two week high of $225.63. The firm has a market capitalization of $36.85 billion, a P/E ratio of 22.12, a PEG ratio of 1.72 and a beta of 1.24.

Ferguson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Investors of record on Friday, December 20th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, December 20th. This is an increase from Ferguson's previous quarterly dividend of $0.79. This represents a $3.32 annualized dividend and a yield of 1.80%. Ferguson's dividend payout ratio (DPR) is currently 39.86%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Ferguson from $215.00 to $205.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Robert W. Baird reduced their price objective on shares of Ferguson from $230.00 to $225.00 and set an "outperform" rating on the stock in a research note on Wednesday, December 11th. Royal Bank of Canada reiterated an "outperform" rating and set a $219.00 price objective on shares of Ferguson in a research note on Wednesday, December 11th. Bank of America upgraded shares of Ferguson from an "underperform" rating to a "buy" rating and raised their price target for the company from $185.00 to $225.00 in a research note on Wednesday, January 8th. Finally, Citigroup reduced their price target on shares of Ferguson from $221.00 to $189.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.