Bank of New York Mellon Corp Sells 32,026 Shares of Ferguson plc (NASDAQ:FERG)

Bank of New York Mellon Corp lessened its holdings in shares of Ferguson plc (NASDAQ:FERG) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,154,275 shares of the company’s stock after selling 32,026 shares during the quarter. Bank of New York Mellon Corp owned approximately 3.08% of Ferguson worth $1,068,198,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its holdings 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 increased its position in shares of Ferguson by 3.7% during the third quarter. State Street Corp now owns 4,541,079 shares of the company’s stock valued at $905,230,000 after buying an additional 161,662 shares during the period. Geode Capital Management LLC raised its stake 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 buying an additional 25,677 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Ferguson by 6.0% in 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Ferguson by 423.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,462,836 shares of the company’s stock valued at $290,475,000 after acquiring an additional 1,183,143 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FERG shares. Royal Bank of Canada restated an “outperform” rating and issued a $219.00 target price on shares of Ferguson in a research note on Wednesday, December 11th. Zelman & Associates lowered Ferguson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 17th. Citigroup reduced their target price on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Robert W. Baird decreased their price target on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Finally, UBS Group reissued a “neutral” rating and set a $193.00 price objective (down previously from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $217.73.

Ferguson Trading Down 2.4 %

Shares of NASDAQ FERG opened at $171.84 on Tuesday. The firm’s 50 day moving average price is $178.36 and its 200-day moving average price is $193.87. Ferguson plc has a 52-week low of $167.27 and a 52-week high of $225.63. 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 company has a market cap of $34.36 billion, a PE ratio of 20.63, a P/E/G ratio of 1.69 and a beta of 1.24.

Ferguson Increases Dividend

The firm also recently disclosed 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 is a boost from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 annualized dividend and a yield of 1.93%. Ferguson’s dividend payout ratio is 39.86%.

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.