Ferguson plc (NASDAQ:FERG) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB lowered its stake in shares of Ferguson plc (NASDAQ:FERG) by 7.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 168,938 shares of the company’s stock after selling 13,379 shares during the period. Nordea Investment Management AB owned 0.08% of Ferguson worth $29,407,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Frank Rimerman Advisors LLC lifted its stake in shares of Ferguson by 1.8% during the third quarter. Frank Rimerman Advisors LLC now owns 3,307 shares of the company’s stock valued at $657,000 after buying an additional 57 shares during the period. Transatlantique Private Wealth LLC raised its position in shares of Ferguson by 3.0% in the 2nd quarter. Transatlantique Private Wealth LLC now owns 2,035 shares of the company’s stock worth $394,000 after buying an additional 60 shares during the period. Mayflower Financial Advisors LLC boosted its holdings in Ferguson by 3.2% in the third quarter. Mayflower Financial Advisors LLC now owns 1,952 shares of the company’s stock valued at $388,000 after acquiring an additional 61 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Ferguson by 33.8% during the third quarter. Farther Finance Advisors LLC now owns 364 shares of the company’s stock worth $72,000 after acquiring an additional 92 shares during the last quarter. Finally, Commerce Bank raised its holdings in shares of Ferguson by 3.8% in the 3rd quarter. Commerce Bank now owns 2,666 shares of the company’s stock worth $529,000 after purchasing an additional 97 shares during the period. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Stock Performance

Shares of FERG stock opened at $172.08 on Wednesday. The stock has a market capitalization of $34.41 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 1.90 and a beta of 1.24. Ferguson plc has a one year low of $170.99 and a one year high of $225.63. The company’s 50-day simple moving average is $196.21 and its 200-day simple moving average is $199.26. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.80.

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 given a $0.83 dividend. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. The ex-dividend date is Friday, December 20th. This represents a $3.32 annualized dividend and a dividend yield of 1.93%. Ferguson’s dividend payout ratio (DPR) is presently 39.86%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FERG shares. Robert W. Baird decreased their target price on Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Citigroup reduced their price target on Ferguson from $221.00 to $189.00 and set a “neutral” rating on the stock in a research report on Monday. Barclays lowered their price objective on shares of Ferguson from $245.00 to $234.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. UBS Group upped their target price on shares of Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $219.00 price target on shares of Ferguson in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $226.89.

Insider Activity

In other Ferguson news, SVP Garland Williams sold 1,118 shares of the business’s stock in a transaction on 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. The trade was a 37.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ian T. Graham sold 5,778 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $201.27, for a total transaction of $1,162,938.06. Following the completion of the transaction, the insider now owns 5,938 shares in the company, valued at approximately $1,195,141.26. The trade was a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,313 shares of company stock worth $2,477,901. 0.16% of the stock is currently owned by insiders.

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.