ING Groep NV Acquires 36,249 Shares of Ferguson plc (NASDAQ:FERG)

ING Groep NV grew its holdings in Ferguson plc (NASDAQ:FERG) by 15.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 267,149 shares of the company’s stock after acquiring an additional 36,249 shares during the quarter. ING Groep NV owned 0.13% of Ferguson worth $46,369,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of FERG. FMR LLC lifted its position in Ferguson by 3.5% in the third 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 during the period. State Street Corp lifted its position in 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 purchasing an additional 161,662 shares during the period. Geode Capital Management LLC lifted its position in Ferguson by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,197,621 shares of the company’s stock worth $633,409,000 after purchasing an additional 25,677 shares during the period. Franklin Resources Inc. raised its stake 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 acquiring an additional 133,769 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Ferguson by 423.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,462,836 shares of the company’s stock worth $290,475,000 after acquiring an additional 1,183,143 shares in the last quarter. 81.98% of the stock is owned by institutional investors.

Ferguson Price Performance

Shares of FERG opened at $181.85 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. The stock has a 50 day simple moving average of $179.09 and a 200 day simple moving average of $194.35. Ferguson plc has a 52-week low of $167.27 and a 52-week high of $225.63. The firm has a market capitalization of $36.36 billion, a PE ratio of 21.83, a P/E/G ratio of 1.75 and a beta of 1.24.

Ferguson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Friday, December 20th were given a dividend of $0.83 per share. The ex-dividend date was Friday, December 20th. This represents a $3.32 dividend on an annualized basis and a yield of 1.83%. This is an increase from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s dividend payout ratio is 39.86%.

Analysts Set New Price Targets

Several research analysts have issued reports on FERG shares. Barclays dropped their price objective on Ferguson from $234.00 to $211.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Robert W. Baird cut their price target on Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Citigroup cut their price target on Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Oppenheimer began coverage on Ferguson in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price target for the company. Finally, Wells Fargo & Company cut their price target on Ferguson from $215.00 to $205.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $217.73.

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.