OneAscent Wealth Management LLC Reduces Position in Ferguson plc (NASDAQ:FERG)

OneAscent Wealth Management LLC decreased its stake in shares of Ferguson plc (NASDAQ:FERG) by 7.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,582 shares of the company’s stock after selling 120 shares during the period. OneAscent Wealth Management LLC’s holdings in Ferguson were worth $346,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Kestra Advisory Services LLC boosted its holdings in shares of Ferguson by 19.4% during the third quarter. Kestra Advisory Services LLC now owns 1,794 shares of the company’s stock worth $295,000 after purchasing an additional 291 shares during the last quarter. LPL Financial LLC boosted its holdings in Ferguson by 14.7% in the third quarter. LPL Financial LLC now owns 28,156 shares of the company’s stock valued at $4,631,000 after acquiring an additional 3,616 shares during the last quarter. Mariner LLC boosted its holdings in Ferguson by 24.5% in the third quarter. Mariner LLC now owns 14,975 shares of the company’s stock valued at $2,463,000 after acquiring an additional 2,943 shares during the last quarter. Operose Advisors LLC acquired a new position in Ferguson in the third quarter valued at $53,000. Finally, Westfield Capital Management Co. LP acquired a new position in Ferguson in the third quarter valued at $3,480,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Up 0.1 %

NASDAQ:FERG traded up $0.19 during mid-day trading on Friday, hitting $193.65. The company had a trading volume of 1,657,065 shares, compared to its average volume of 1,375,091. The business has a fifty day simple moving average of $207.31 and a 200-day simple moving average of $203.00. The company has a current ratio of 1.68, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64. Ferguson plc has a 1 year low of $147.62 and a 1 year high of $224.86. The firm has a market capitalization of $39.11 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 8.08 and a beta of 1.23.

Ferguson (NASDAQ:FERG) last announced its earnings results on Tuesday, June 4th. The company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.05. Ferguson had a return on equity of 36.89% and a net margin of 6.33%. The business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.32 billion. During the same period in the previous year, the company earned $2.20 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts forecast that Ferguson plc will post 9.66 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 14th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Friday, June 14th. Ferguson’s dividend payout ratio is currently 34.54%.

Wall Street Analysts Forecast Growth

FERG has been the topic of a number of research analyst reports. Royal Bank of Canada reduced their target price on Ferguson from $217.00 to $211.00 and set an “outperform” rating on the stock in a report on Wednesday, June 5th. Barclays reduced their target price on Ferguson from $236.00 to $232.00 and set an “overweight” rating on the stock in a report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ferguson has an average rating of “Moderate Buy” and a consensus price target of $221.50.

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.