Allspring Global Investments Holdings LLC Trims Stake in Ferguson plc (NASDAQ:FERG)

Allspring Global Investments Holdings LLC lessened its position in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 21.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,504 shares of the company's stock after selling 5,758 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Ferguson were worth $3,555,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Ferguson by 3.5% during the 3rd quarter. FMR LLC now owns 8,468,003 shares of the company's stock valued at $1,668,462,000 after acquiring an additional 288,935 shares during the period. State Street Corp boosted its position 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 purchasing an additional 161,662 shares in the last quarter. Geode Capital Management LLC grew its holdings in Ferguson by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,197,621 shares of the company's stock valued at $633,409,000 after purchasing an additional 25,677 shares during the period. Franklin Resources Inc. increased its position in shares of Ferguson by 6.0% in the third quarter. Franklin Resources Inc. now owns 2,371,954 shares of the company's stock valued at $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 raised its stake in shares of Ferguson by 423.0% during the 3rd 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 during the period. Hedge funds and other institutional investors own 81.98% of the company's stock.

Ferguson Trading Down 2.0 %

NASDAQ:FERG traded down $3.60 during trading hours on Friday, hitting $175.90. The company had a trading volume of 1,573,431 shares, compared to its average volume of 1,416,733. Ferguson plc has a 1 year low of $167.27 and a 1 year high of $225.63. The company has a market cap of $35.17 billion, a P/E ratio of 21.12, a P/E/G ratio of 1.71 and a beta of 1.24. The company has a 50-day moving average of $178.87 and a 200 day moving average of $194.24. 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Investors of record on Friday, December 20th were issued a $0.83 dividend. The ex-dividend date was Friday, December 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.89%. This is a positive change from Ferguson's previous quarterly dividend of $0.79. Ferguson's dividend payout ratio is currently 39.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Berenberg Bank lifted their price target 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. Barclays cut their target price on shares of Ferguson from $234.00 to $211.00 and set an "overweight" rating for the company in a research note on Thursday, January 16th. Morgan Stanley began coverage on shares of Ferguson in a research note on Monday, February 3rd. They issued an "overweight" rating and a $204.00 price target on the stock. Wells Fargo & Company lowered 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. Finally, Bank of America raised Ferguson from an "underperform" rating to a "buy" rating and increased their target price for the company from $185.00 to $225.00 in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.