Entropy Technologies LP Cuts Stock Holdings in Ferguson plc (NASDAQ:FERG)

Entropy Technologies LP decreased its holdings in shares of Ferguson plc (NASDAQ:FERG) by 45.1% in the 4th quarter, Holdings Channel reports. The firm owned 28,335 shares of the company’s stock after selling 23,312 shares during the period. Entropy Technologies LP’s holdings in Ferguson were worth $4,918,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. CWM LLC boosted its stake in Ferguson by 303.7% in the third quarter. CWM LLC now owns 4,550 shares of the company’s stock worth $904,000 after buying an additional 3,423 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Ferguson by 32.5% in the third quarter. Principal Financial Group Inc. now owns 32,025 shares of the company’s stock worth $6,359,000 after buying an additional 7,862 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in Ferguson in the third quarter worth approximately $970,000. Clean Yield Group boosted its stake in Ferguson by 27.1% in the fourth quarter. Clean Yield Group now owns 25,959 shares of the company’s stock worth $4,506,000 after buying an additional 5,534 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its stake in Ferguson by 79.6% in the third quarter. Eagle Asset Management Inc. now owns 646,954 shares of the company’s stock worth $134,217,000 after buying an additional 286,691 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Price Performance

Shares of NASDAQ:FERG opened at $177.25 on Friday. Ferguson plc has a 1-year low of $167.27 and a 1-year high of $225.63. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The business has a fifty day moving average price of $183.74 and a 200-day moving average price of $196.15. The company has a market capitalization of $35.44 billion, a PE ratio of 19.21, a PEG ratio of 1.72 and a beta of 1.24.

Ferguson Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Morgan Stanley initiated coverage on Ferguson in a research note on Monday, February 3rd. They set an “overweight” rating and a $204.00 price objective for the company. Barclays decreased their target price on Ferguson from $234.00 to $211.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Zelman & Associates downgraded Ferguson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 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 report on Wednesday, January 8th. Finally, Oppenheimer initiated coverage on Ferguson in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price objective for the company. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $217.73.

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.