Ferguson plc (NASDAQ:FERG) Shares Sold by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC cut its position in Ferguson plc (NASDAQ:FERG - Free Report) by 52.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,758 shares of the company's stock after selling 6,232 shares during the period. Elevation Point Wealth Partners LLC's holdings in Ferguson were worth $923,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC increased its position in shares of Ferguson by 6.5% in the 4th quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company's stock valued at $211,000 after purchasing an additional 74 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Ferguson by 1.3% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,390 shares of the company's stock valued at $1,109,000 after purchasing an additional 80 shares during the last quarter. Assetmark Inc. increased its position in shares of Ferguson by 41.1% in the 4th quarter. Assetmark Inc. now owns 333 shares of the company's stock valued at $58,000 after purchasing an additional 97 shares during the last quarter. LGT Financial Advisors LLC increased its position in shares of Ferguson by 106.3% in the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock valued at $34,000 after purchasing an additional 102 shares during the last quarter. Finally, Inspire Advisors LLC increased its position in shares of Ferguson by 3.7% in the 4th quarter. Inspire Advisors LLC now owns 3,001 shares of the company's stock valued at $521,000 after purchasing an additional 108 shares during the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FERG has been the topic of a number of recent analyst reports. Truist Financial reissued a "buy" rating and issued a $230.00 price objective on shares of Ferguson in a research report on Wednesday, June 4th. Citigroup dropped their target price on shares of Ferguson from $189.00 to $168.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 12th. Robert W. Baird set a $190.00 target price on shares of Ferguson and gave the company an "outperform" rating in a research report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferguson in a research report on Tuesday, April 1st. They issued a "hold" rating and a $174.00 target price on the stock. Finally, Wolfe Research started coverage on shares of Ferguson in a research report on Monday, March 17th. They issued a "peer perform" rating on the stock. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Ferguson has a consensus rating of "Moderate Buy" and a consensus target price of $217.07.

Ferguson Trading Down 0.6%

Shares of Ferguson stock opened at $212.34 on Friday. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $225.63. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. The company has a market capitalization of $41.87 billion, a P/E ratio of 25.49, a PEG ratio of 1.69 and a beta of 1.13. The company's fifty day moving average is $179.35 and its two-hundred day moving average is $178.15.

Ferguson (NASDAQ:FERG - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. During the same quarter in the prior year, the company posted $2.32 EPS. Ferguson's revenue was up 4.3% on a year-over-year basis. Analysts forecast that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, June 20th. Ferguson's dividend payout ratio (DPR) is presently 41.40%.

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.

Want to see what other hedge funds are holding FERG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferguson plc (NASDAQ:FERG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.