Ferguson plc (NASDAQ:FERG) Position Cut by Nordea Investment Management AB

Nordea Investment Management AB lowered its holdings in shares of Ferguson plc (NASDAQ:FERG) by 7.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,938 shares of the company’s stock after selling 13,379 shares during the period. Nordea Investment Management AB’s holdings in Ferguson were worth $29,407,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in FERG. Frank Rimerman Advisors LLC increased its holdings 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 purchasing an additional 57 shares during the period. Transatlantique Private Wealth LLC grew its position in Ferguson by 3.0% in the 2nd quarter. Transatlantique Private Wealth LLC now owns 2,035 shares of the company’s stock valued at $394,000 after buying an additional 60 shares in the last quarter. Mayflower Financial Advisors LLC increased its stake in Ferguson by 3.2% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 1,952 shares of the company’s stock valued at $388,000 after buying an additional 61 shares during the period. Farther Finance Advisors LLC raised its position in shares of Ferguson by 33.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 364 shares of the company’s stock worth $72,000 after buying an additional 92 shares in the last quarter. Finally, Commerce Bank lifted its stake 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 acquiring an additional 97 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Trading Down 1.2 %

Shares of FERG opened at $172.08 on Wednesday. The business’s 50-day moving average price is $196.21 and its 200 day moving average price is $199.26. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $34.41 billion, a P/E ratio of 20.66, a P/E/G ratio of 1.90 and a beta of 1.24. Ferguson plc has a 1-year low of $170.99 and a 1-year high of $225.63.

Ferguson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.93%. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s payout ratio is currently 39.86%.

Analysts Set New Price Targets

A number of research analysts recently commented on FERG shares. Royal Bank of Canada reiterated an “outperform” rating and set a $219.00 price objective on shares of Ferguson in a research note on Wednesday, December 11th. Citigroup lowered 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. UBS Group upped their price objective on Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Berenberg Bank lifted their target price on Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Robert W. Baird dropped their price target on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.89.

Insider Activity at Ferguson

In related news, CMO Victoria Morrissey sold 1,468 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $201.20, for a total value of $295,361.60. Following the completion of the sale, the chief marketing officer now directly owns 5,205 shares of the company’s stock, valued at approximately $1,047,246. This represents a 22.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Garland Williams sold 1,118 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $201.22, for a total value of $224,963.96. Following the sale, the senior vice president now owns 1,882 shares of the company’s stock, valued at $378,696.04. The trade was a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,313 shares of company stock worth $2,477,901. 0.16% of the stock is owned by corporate 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.