Truist Financial Corp Sells 34,227 Shares of Ferguson plc (NASDAQ:FERG)

Truist Financial Corp lessened its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 231,676 shares of the company's stock after selling 34,227 shares during the quarter. Truist Financial Corp owned about 0.12% of Ferguson worth $40,212,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. CIBC Asset Management Inc grew its position in Ferguson by 14.3% in the fourth quarter. CIBC Asset Management Inc now owns 8,274 shares of the company's stock worth $1,436,000 after acquiring an additional 1,032 shares in the last quarter. Principal Securities Inc. lifted its stake in Ferguson by 6.0% during the fourth quarter. Principal Securities Inc. now owns 3,086 shares of the company's stock worth $536,000 after purchasing an additional 175 shares during the last quarter. Manchester Capital Management LLC boosted its holdings in shares of Ferguson by 906.7% in the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company's stock worth $26,000 after purchasing an additional 136 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of Ferguson by 28.1% during the 4th quarter. V Square Quantitative Management LLC now owns 3,801 shares of the company's stock valued at $660,000 after purchasing an additional 833 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its position in shares of Ferguson by 339.9% during the 4th quarter. Vontobel Holding Ltd. now owns 1,234,776 shares of the company's stock valued at $214,320,000 after purchasing an additional 954,092 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company's stock.

Ferguson Trading Down 2.0 %

Shares of FERG stock traded down $3.60 during trading hours on Friday, reaching $175.90. The company's stock had a trading volume of 1,573,431 shares, compared to its average volume of 1,416,733. 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 one year low of $167.27 and a one year high of $225.63. The stock has a market capitalization 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 firm's fifty day simple moving average is $178.87 and its 200 day simple moving average is $194.24.

Ferguson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Friday, December 20th were given a dividend of $0.83 per share. This is an increase from Ferguson's previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Friday, December 20th. Ferguson's payout ratio is presently 39.86%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Citigroup cut their target price on Ferguson from $221.00 to $189.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Bank of America raised shares of Ferguson from an "underperform" rating to a "buy" rating and upped their price objective for the company from $185.00 to $225.00 in a research note on Wednesday, January 8th. Royal Bank of Canada reiterated an "outperform" rating and issued a $219.00 target price on shares of Ferguson in a research report on Wednesday, December 11th. Wells Fargo & Company cut their price target on shares of Ferguson from $215.00 to $205.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. Finally, UBS Group reiterated a "neutral" rating and issued a $193.00 price objective (down previously 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 company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $217.73.

Ferguson 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.