Ferguson plc (NASDAQ:FERG) Shares Sold by OneAscent Wealth Management LLC

OneAscent Wealth Management LLC lessened its stake in Ferguson plc (NASDAQ:FERG) by 37.8% during the fourth quarter, Holdings Channel reports. The firm owned 1,365 shares of the company’s stock after selling 829 shares during the period. OneAscent Wealth Management LLC’s holdings in Ferguson were worth $237,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Parnassus Investments LLC increased its position in Ferguson by 944.4% during the 4th quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company’s stock worth $613,944,000 after purchasing an additional 3,198,477 shares in the last quarter. Norges Bank purchased a new stake in Ferguson during the fourth quarter worth approximately $469,730,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Ferguson by 423.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,462,836 shares of the company’s stock worth $290,475,000 after acquiring an additional 1,183,143 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of Ferguson by 339.9% in the 4th quarter. Vontobel Holding Ltd. now owns 1,234,776 shares of the company’s stock valued at $214,320,000 after acquiring an additional 954,092 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Ferguson by 7,632.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 677,684 shares of the company’s stock valued at $117,626,000 after acquiring an additional 668,920 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FERG. Oppenheimer lowered their price target on Ferguson from $234.00 to $189.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. Citigroup lowered their target price on Ferguson from $189.00 to $168.00 and set a “neutral” rating for the company in a research note on Wednesday, March 12th. Zelman & Associates lowered Ferguson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 17th. Wolfe Research initiated coverage on shares of Ferguson in a research report on Monday, March 17th. They issued a “peer perform” rating for the company. Finally, Wells Fargo & Company dropped their price objective on shares of Ferguson from $205.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $200.67.

Ferguson Trading Down 1.4 %

Shares of NASDAQ FERG opened at $160.63 on Friday. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. Ferguson plc has a one year low of $152.52 and a one year high of $225.63. The business has a 50-day moving average price of $173.86 and a two-hundred day moving average price of $187.71. The firm has a market capitalization of $32.12 billion, a PE ratio of 19.28, a PEG ratio of 1.69 and a beta of 1.28.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings results on Tuesday, March 11th. The company reported $1.52 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.06). Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.76 billion. During the same quarter in the prior year, the firm earned $1.74 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. As a group, analysts predict that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, March 21st. Ferguson’s payout ratio is 40.84%.

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.