Ferguson plc (NASDAQ:FERG) Position Trimmed by Knights of Columbus Asset Advisors LLC

Key Points

• Knights of Columbus Asset Advisors LLC reduced its holdings in Ferguson plc by 39.1% in the first quarter, now owning 13,813 shares worth approximately $2.2 million.
• Ferguson plc reported a quarterly earnings per share (EPS) of $2.50, exceeding expectations by 44 cents, while revenue increased by 4.3% compared to the prior year.
• The company announced a quarterly dividend of $0.83, representing an annualized dividend yield of 1.48%, with a payout ratio currently at 41.40%.

Knights of Columbus Asset Advisors LLC lowered its position in Ferguson plc (NASDAQ:FERG - Free Report) by 39.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,813 shares of the company's stock after selling 8,883 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in Ferguson were worth $2,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Mission Wealth Management LP increased its stake in Ferguson by 2.2% in the 1st quarter. Mission Wealth Management LP now owns 3,050 shares of the company's stock worth $489,000 after purchasing an additional 67 shares during the period. James Hambro & Partners LLP lifted its stake in shares of Ferguson by 1.1% in the 1st quarter. James Hambro & Partners LLP now owns 6,311 shares of the company's stock valued at $1,011,000 after purchasing an additional 70 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in Ferguson by 6.5% during the 4th quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company's stock worth $211,000 after purchasing an additional 74 shares during the period. TD Private Client Wealth LLC grew its stake in Ferguson by 56.5% in the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. Finally, Cidel Asset Management Inc. lifted its position in Ferguson by 6.5% during the 1st quarter. Cidel Asset Management Inc. now owns 1,284 shares of the company's stock worth $206,000 after acquiring an additional 78 shares during the period. Institutional investors and hedge funds own 81.98% of the company's stock.

Ferguson Stock Performance

Shares of FERG stock traded up $0.60 on Tuesday, hitting $227.07. The company had a trading volume of 871,121 shares, compared to its average volume of 1,781,135. The firm has a market cap of $44.77 billion, a P/E ratio of 27.26, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $227.73. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The company has a 50-day moving average price of $211.06 and a 200-day moving average price of $185.01.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.06 by $0.44. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The firm's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the firm earned $2.32 earnings per share. As a group, equities research analysts predict that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Friday, June 20th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, June 20th. Ferguson's dividend payout ratio is currently 41.40%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wells Fargo & Company boosted their price objective on Ferguson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Morgan Stanley reissued an "overweight" rating and issued a $220.00 target price (up previously from $195.00) on shares of Ferguson in a report on Monday, June 9th. Oppenheimer lifted their price target on shares of Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Royal Bank Of Canada upped their price objective on Ferguson from $189.00 to $231.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Finally, Barclays boosted their target price on shares of Ferguson from $190.00 to $247.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $220.64.

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.