Founders Grove Wealth Partners LLC Takes Position in Ferguson plc (NASDAQ:FERG)

Founders Grove Wealth Partners LLC purchased a new stake in Ferguson plc (NASDAQ:FERG) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,323 shares of the company’s stock, valued at approximately $230,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC raised its position in shares of Ferguson by 303.7% in the 3rd quarter. CWM LLC now owns 4,550 shares of the company’s stock valued at $904,000 after purchasing an additional 3,423 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Ferguson by 32.5% in the 3rd quarter. Principal Financial Group Inc. now owns 32,025 shares of the company’s stock valued at $6,359,000 after purchasing an additional 7,862 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of Ferguson in the 3rd quarter valued at approximately $970,000. Entropy Technologies LP raised its position in shares of Ferguson by 66.2% in the 3rd quarter. Entropy Technologies LP now owns 51,647 shares of the company’s stock valued at $10,256,000 after purchasing an additional 20,580 shares during the last quarter. Finally, Clean Yield Group raised its position in shares of Ferguson by 27.1% in the 4th quarter. Clean Yield Group now owns 25,959 shares of the company’s stock valued at $4,506,000 after purchasing an additional 5,534 shares during the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Price Performance

NASDAQ:FERG opened at $175.69 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00. The firm has a market cap of $35.13 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. The company has a 50 day moving average price of $193.57 and a 200-day moving average price of $198.52. Ferguson plc has a 1-year low of $167.27 and a 1-year high of $225.63.

Ferguson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 1.89%. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Friday, December 20th. Ferguson’s payout ratio is 39.86%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FERG. UBS Group reaffirmed a “neutral” rating and issued a $193.00 price objective (down from $230.00) on shares of Ferguson in a research report on Wednesday, January 8th. Robert W. Baird decreased their price objective on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. Citigroup decreased their price objective on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Berenberg Bank raised their price target on shares of Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Bank of America raised shares of Ferguson from an “underperform” rating to a “buy” rating and raised their price target for the stock from $185.00 to $225.00 in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $222.40.

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.