Everence Capital Management Inc. Takes Position in Ferguson plc (NASDAQ:FERG)

Everence Capital Management Inc. purchased a new position in Ferguson plc (NASDAQ:FERG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 5,920 shares of the company’s stock, valued at approximately $1,028,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Asset Dedication LLC bought a new position in shares of Ferguson during the 3rd quarter valued at approximately $27,000. True Wealth Design LLC increased its position in Ferguson by 1,350.0% during the third quarter. True Wealth Design LLC now owns 145 shares of the company’s stock valued at $29,000 after acquiring an additional 135 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Ferguson in the third quarter valued at $37,000. Peterson Financial Group Inc. bought a new stake in shares of Ferguson in the 3rd quarter worth about $39,000. Finally, Reston Wealth Management LLC purchased a new position in shares of Ferguson during the 3rd quarter worth about $40,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ferguson news, VP Michael Jacobs sold 2,624 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $200.96, for a total value of $527,319.04. Following the completion of the transaction, the vice president now directly owns 1,116 shares in the company, valued at approximately $224,271.36. The trade was a 70.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Garland Williams sold 1,118 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.22, for a total transaction of $224,963.96. Following the completion of the sale, the senior vice president now owns 1,882 shares in the company, valued at $378,696.04. This represents a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,313 shares of company stock worth $2,477,901 over the last 90 days. Company insiders own 0.16% of the company’s stock.

Ferguson Trading Up 0.5 %

NASDAQ FERG opened at $174.26 on Friday. Ferguson plc has a one year low of $171.68 and a one year high of $225.63. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.80. The company has a market capitalization of $34.84 billion, a price-to-earnings ratio of 20.92, a price-to-earnings-growth ratio of 1.90 and a beta of 1.21. The company’s 50-day simple moving average is $197.14 and its two-hundred day simple moving average is $199.63.

Ferguson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Investors 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 yield of 1.91%. 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 dividend payout ratio (DPR) is presently 39.86%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. 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 note on Wednesday, December 11th. Royal Bank of Canada reissued an “outperform” rating and set a $219.00 price target on shares of Ferguson in a research note on Wednesday, December 11th. Citigroup upped their price objective on Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. UBS Group lifted their target price on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Barclays reduced their price target on shares of Ferguson from $245.00 to $234.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $230.44.

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.