First Hawaiian Bank Buys Shares of 1,971 Ferguson plc (NASDAQ:FERG)

First Hawaiian Bank purchased a new position in Ferguson plc (NASDAQ:FERG) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,971 shares of the company’s stock, valued at approximately $342,000.

Other large investors also recently modified their holdings of the company. FMR LLC lifted its stake in Ferguson by 3.5% in the 3rd quarter. FMR LLC now owns 8,468,003 shares of the company’s stock worth $1,668,462,000 after purchasing an additional 288,935 shares in the last quarter. State Street Corp raised its position in shares of Ferguson by 3.7% in the third quarter. State Street Corp now owns 4,541,079 shares of the company’s stock worth $905,230,000 after buying an additional 161,662 shares in the last quarter. Geode Capital Management LLC boosted its stake in Ferguson by 0.8% during the third quarter. Geode Capital Management LLC now owns 3,197,621 shares of the company’s stock valued at $633,409,000 after buying an additional 25,677 shares during the period. Franklin Resources Inc. grew its position in Ferguson by 6.0% during the third quarter. Franklin Resources Inc. now owns 2,371,954 shares of the company’s stock worth $477,858,000 after buying an additional 133,769 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Ferguson by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,563,558 shares of the company’s stock worth $302,781,000 after acquiring an additional 153,757 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ferguson

In related news, SVP Garland Williams sold 1,118 shares of the company’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 directly owns 1,882 shares in the company, valued at $378,696.04. This represents a 37.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Richard Winckler sold 1,325 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $201.75, for a total transaction of $267,318.75. Following the completion of the sale, the chief accounting officer now directly owns 1,000 shares in the company, valued at approximately $201,750. This trade represents a 56.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,313 shares of company stock worth $2,477,901. 0.16% of the stock is currently owned by insiders.

Ferguson Stock Down 1.1 %

Shares of NASDAQ:FERG opened at $170.10 on Friday. The stock has a market capitalization of $34.01 billion, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. The stock’s 50-day moving average price is $194.66 and its 200-day moving average price is $198.76. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89. Ferguson plc has a 12-month low of $169.64 and a 12-month high of $225.63.

Ferguson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Friday, December 20th will be paid a $0.83 dividend. This is a boost from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Friday, December 20th. Ferguson’s payout ratio is 39.86%.

Analysts Set New Price Targets

Several research analysts have recently commented on FERG shares. Oppenheimer initiated coverage on Ferguson in a report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price objective for the company. Citigroup cut their price target on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. UBS Group restated a “neutral” rating and set a $193.00 price objective (down previously from $230.00) on shares of Ferguson in a research report on Wednesday. Robert W. Baird cut their target price 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $219.00 price target on shares of Ferguson in a research report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $222.40.

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.