Canoe Financial LP Has $209,000 Position in Ferguson plc (NASDAQ:FERG)

Canoe Financial LP grew its position in Ferguson plc (NASDAQ:FERG) by 487.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,204 shares of the company’s stock after acquiring an additional 999 shares during the quarter. Canoe Financial LP’s holdings in Ferguson were worth $209,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FERG. Frank Rimerman Advisors LLC raised its stake in shares of Ferguson by 1.8% in 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 in the last quarter. Transatlantique Private Wealth LLC increased its holdings 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 during the period. Mayflower Financial Advisors LLC raised its stake in shares of Ferguson by 3.2% in 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 in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Ferguson by 0.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,834 shares of the company’s stock worth $4,137,000 after acquiring an additional 86 shares during the period. Finally, Farther Finance Advisors LLC boosted 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 valued at $72,000 after acquiring an additional 92 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of NASDAQ:FERG opened at $177.50 on Friday. The business has a fifty day moving average of $191.58 and a 200-day moving average of $198.12. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. Ferguson plc has a twelve month low of $167.27 and a twelve month high of $225.63. The firm has a market cap of $35.49 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 1.60 and a beta of 1.24.

Ferguson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.83 per share. This is a boost from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Friday, December 20th. Ferguson’s dividend payout ratio is 39.86%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FERG shares. Royal Bank of Canada reissued an “outperform” rating and issued a $219.00 price target on shares of Ferguson in a research report on Wednesday, December 11th. Oppenheimer assumed coverage on Ferguson in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 target price for the company. Bank of America raised Ferguson from an “underperform” rating to a “buy” rating and boosted their price target for the company from $185.00 to $225.00 in a research note on Wednesday, January 8th. Citigroup dropped their price objective on Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, UBS Group restated a “neutral” rating and issued a $193.00 target price (down previously from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $220.10.

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.