Clio Asset Management LLC Sells 6,240 Shares of Ferguson plc (NASDAQ:FERG)

Clio Asset Management LLC cut its stake in shares of Ferguson plc (NASDAQ:FERG) by 9.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 60,445 shares of the company’s stock after selling 6,240 shares during the period. Ferguson makes up approximately 7.7% of Clio Asset Management LLC’s holdings, making the stock its 6th biggest holding. Clio Asset Management LLC’s holdings in Ferguson were worth $9,685,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mission Wealth Management LP lifted its position in Ferguson by 2.2% during the 1st quarter. Mission Wealth Management LP now owns 3,050 shares of the company’s stock worth $489,000 after acquiring an additional 67 shares in the last quarter. James Hambro & Partners LLP lifted its position in Ferguson by 1.1% during the 1st quarter. James Hambro & Partners LLP now owns 6,311 shares of the company’s stock worth $1,011,000 after acquiring an additional 70 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position 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 acquiring an additional 74 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in Ferguson by 1.3% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,390 shares of the company’s stock worth $1,109,000 after acquiring an additional 80 shares in the last quarter. Finally, Assetmark Inc. lifted its position in Ferguson by 41.1% during the 4th quarter. Assetmark Inc. now owns 333 shares of the company’s stock worth $58,000 after acquiring an additional 97 shares in the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FERG has been the topic of several recent research reports. Truist Financial reissued a “buy” rating and set a $230.00 price target on shares of Ferguson in a research report on Wednesday, June 4th. Oppenheimer lifted their price objective on Ferguson from $189.00 to $235.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. UBS Group lifted their price objective on Ferguson from $173.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, June 4th. The Goldman Sachs Group initiated coverage on Ferguson in a report on Wednesday. They set a “buy” rating and a $280.00 price objective on the stock. Finally, Royal Bank Of Canada lifted 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. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Ferguson has a consensus rating of “Moderate Buy” and an average price target of $221.27.

Ferguson Trading Up 0.4%

Shares of Ferguson stock opened at $215.16 on Friday. 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 firm has a market cap of $42.43 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 1.69 and a beta of 1.13. The business has a fifty day simple moving average of $184.67 and a 200-day simple moving average of $178.33. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $225.63.

Ferguson (NASDAQ:FERG) last announced its earnings results on Tuesday, June 3rd. The company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.06 by $0.44. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. During the same quarter in the prior year, the business earned $2.32 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts forecast that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Friday, June 20th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Friday, June 20th. Ferguson’s dividend payout ratio is currently 41.40%.

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.