Tran Capital Management L.P. Lowers Position in Ferguson plc (NASDAQ:FERG)

Tran Capital Management L.P. reduced its stake in Ferguson plc (NASDAQ:FERG) by 4.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 223,132 shares of the company’s stock after selling 10,148 shares during the period. Ferguson makes up approximately 4.4% of Tran Capital Management L.P.’s portfolio, making the stock its 10th biggest position. Tran Capital Management L.P.’s holdings in Ferguson were worth $38,729,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Toronto Dominion Bank boosted its stake in Ferguson by 0.5% in the 2nd quarter. Toronto Dominion Bank now owns 19,502 shares of the company’s stock worth $3,777,000 after purchasing an additional 104 shares during the period. AXA S.A. boosted its position in shares of Ferguson by 29.1% in the second quarter. AXA S.A. now owns 33,383 shares of the company’s stock valued at $6,465,000 after acquiring an additional 7,534 shares during the period. AQR Capital Management LLC grew its stake in Ferguson by 10.6% during the second quarter. AQR Capital Management LLC now owns 278,639 shares of the company’s stock valued at $53,958,000 after acquiring an additional 26,671 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in Ferguson by 194.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 193,212 shares of the company’s stock worth $37,416,000 after acquiring an additional 127,589 shares during the period. Finally, MBB Public Markets I LLC purchased a new stake in Ferguson in the 2nd quarter worth approximately $2,843,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Price Performance

FERG stock opened at $180.68 on Friday. 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 firm has a market cap of $36.13 billion, a P/E ratio of 19.58, a P/E/G ratio of 1.75 and a beta of 1.24. The firm’s fifty day moving average is $189.28 and its 200 day moving average is $197.89. Ferguson plc has a 52 week low of $167.27 and a 52 week high of $225.63.

Ferguson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Friday, December 20th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Friday, December 20th. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s payout ratio is 39.86%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FERG. Citigroup decreased their price target on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Barclays dropped their price target on Ferguson from $234.00 to $211.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. UBS Group restated a “neutral” rating and issued a $193.00 price objective (down from $230.00) on shares of Ferguson in a research report on Wednesday, January 8th. Robert W. Baird dropped 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, Bank of America raised shares of Ferguson from an “underperform” rating to a “buy” rating and increased their price target for the stock from $185.00 to $225.00 in a report on Wednesday, January 8th. Three investment 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, Ferguson presently has an average rating of “Moderate Buy” and an average target price of $220.10.

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.