Timber Creek Capital Management LLC Cuts Position in Ferguson plc (NASDAQ:FERG)

Timber Creek Capital Management LLC lessened its stake in Ferguson plc (NASDAQ:FERG) by 82.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,513 shares of the company’s stock after selling 11,690 shares during the quarter. Timber Creek Capital Management LLC’s holdings in Ferguson were worth $436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AMF Tjanstepension AB purchased a new stake in shares of Ferguson during the 3rd quarter valued at about $2,523,000. Creative Planning increased its holdings in Ferguson by 55.0% during the third quarter. Creative Planning now owns 7,404 shares of the company’s stock valued at $1,470,000 after buying an additional 2,628 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Ferguson by 21.3% during the 3rd quarter. Blue Trust Inc. now owns 2,298 shares of the company’s stock worth $445,000 after acquiring an additional 403 shares during the last quarter. OLD National Bancorp IN bought a new stake in shares of Ferguson during the 3rd quarter valued at $253,000. Finally, Signaturefd LLC raised its holdings in Ferguson by 4.5% in the 3rd quarter. Signaturefd LLC now owns 3,737 shares of the company’s stock worth $742,000 after purchasing an additional 160 shares during the period. Institutional investors own 81.98% of the company’s stock.

Ferguson Price Performance

FERG stock opened at $185.79 on Wednesday. The company has a fifty day simple moving average of $179.33 and a two-hundred day simple moving average of $194.44. Ferguson plc has a 52 week low of $167.27 and a 52 week high of $225.63. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $37.15 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.74 and a beta of 1.24.

Ferguson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Investors of record on Friday, December 20th were given a $0.83 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $3.32 annualized dividend and a yield of 1.79%. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s dividend payout ratio (DPR) is currently 39.86%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FERG. Bank of America upgraded Ferguson from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $185.00 to $225.00 in a research note on Wednesday, January 8th. Zelman & Associates lowered Ferguson from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $219.00 price target on shares of Ferguson in a report on Wednesday, December 11th. Citigroup cut their price objective on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, Berenberg Bank lifted their price objective on shares of Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $217.73.

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.