Gateway Investment Advisers LLC Sells 450 Shares of Ferguson plc (NASDAQ:FERG)

Gateway Investment Advisers LLC lessened its stake in shares of Ferguson plc (NASDAQ:FERG) by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,731 shares of the company’s stock after selling 450 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Ferguson were worth $1,863,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Asset Dedication LLC bought a new position in Ferguson in the 3rd quarter valued at about $27,000. True Wealth Design LLC lifted its position in Ferguson by 1,350.0% in the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock valued at $29,000 after acquiring an additional 135 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Ferguson in the 3rd quarter valued at about $37,000. Peterson Financial Group Inc. bought a new position in Ferguson in the 3rd quarter valued at about $39,000. Finally, Ashton Thomas Securities LLC bought a new position in Ferguson in the 3rd quarter valued at about $40,000. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Up 0.6 %

Shares of NASDAQ:FERG opened at $177.50 on Friday. The firm has a fifty day moving average price of $191.58 and a two-hundred day moving average price of $198.12. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. Ferguson plc has a one year low of $167.27 and a one year high of $225.63. The company has a market cap of $35.49 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 1.60 and a beta of 1.24.

Ferguson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Friday, December 20th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 1.87%. This is an increase from Ferguson’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Friday, December 20th. Ferguson’s dividend payout ratio (DPR) is presently 39.86%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FERG shares. Bank of America upgraded shares of Ferguson from an “underperform” rating to a “buy” rating and increased their price objective for the company from $185.00 to $225.00 in a research note on Wednesday, January 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $219.00 price objective on shares of Ferguson in a research note on Wednesday, December 11th. Wells Fargo & Company decreased their price objective on shares of Ferguson from $220.00 to $215.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. UBS Group reiterated a “neutral” rating and issued a $193.00 price objective (down previously from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Finally, Berenberg Bank increased their price objective on shares of Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Ferguson presently has a consensus rating of “Moderate Buy” and an average target price of $220.10.

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.