Mirae Asset Global Investments Co. Ltd. Cuts Position in Ferguson plc (NASDAQ:FERG)

Mirae Asset Global Investments Co. Ltd. trimmed its position in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 51.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,060 shares of the company's stock after selling 5,454 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Ferguson were worth $878,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Asset Dedication LLC purchased a new position in shares of Ferguson during the 3rd quarter valued at approximately $27,000. True Wealth Design LLC increased its holdings in shares of Ferguson by 1,350.0% during the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company's stock valued at $29,000 after purchasing an additional 135 shares in the last quarter. Berbice Capital Management LLC purchased a new position in shares of Ferguson during the 4th quarter valued at approximately $35,000. Capital Performance Advisors LLP purchased a new position in shares of Ferguson during the 3rd quarter valued at approximately $37,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of Ferguson during the 3rd quarter valued at approximately $39,000. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Trading Up 0.4 %

Shares of FERG stock traded up $0.78 on Friday, hitting $184.29. 1,112,303 shares of the stock traded hands, compared to its average volume of 1,529,043. The firm's 50-day moving average price is $180.18 and its two-hundred day moving average price is $194.99. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. The stock has a market capitalization of $36.85 billion, a PE ratio of 22.12, a PEG ratio of 1.72 and a beta of 1.24. Ferguson plc has a twelve month low of $167.27 and a twelve month high of $225.63.

Ferguson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Friday, December 20th were given a dividend of $0.83 per share. This is a boost from Ferguson's previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Friday, December 20th. This represents a $3.32 annualized dividend and a dividend yield of 1.80%. Ferguson's payout ratio is presently 39.86%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FERG shares. Citigroup cut their target price on shares of Ferguson from $221.00 to $189.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Oppenheimer assumed coverage on shares of Ferguson in a report on Wednesday, October 23rd. They issued an "outperform" rating and a $234.00 price target for the company. Morgan Stanley assumed coverage on shares of Ferguson in a report on Monday, February 3rd. They issued an "overweight" rating and a $204.00 price target for the company. Zelman & Associates lowered shares of Ferguson from a "strong-buy" rating to a "hold" rating in a report on Friday, January 17th. Finally, Berenberg Bank boosted their price target on shares of Ferguson from $224.00 to $240.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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.