First Horizon Advisors Inc. reduces its position in Ferguson plc (NASDAQ:FERG)

VaselineAugust 22, 2024

0 3 minutes read

First Horizon Advisors Inc. lessened its position in shares of Ferguson plc (NASDAQ:FERG – Free Report) by 19.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 327 shares of the company’s stock after selling 77 shares during the quarter. Holdings of First Horizon Advisors Inc. in Ferguson were worth $63,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Richardson Financial Services Inc. acquired a new stake in Ferguson in the 4th quarter valued at $25,000. Venturi Wealth Management LLC raised its stake in Ferguson by 60.0% in the first quarter. Venturi Wealth Management LLC now owns 136 shares of the company’s stock valued at $30,000 after buying an additional 51 shares in the last quarter. MCF Advisors LLC purchased a new stake in shares of Ferguson in the 1st quarter valued at approximately $47,000. Avalon Trust Co acquired a new position in Ferguson in the 4th quarter valued at about $50,000. Finally, Fifth Third Bancorp boosted its holdings in Ferguson by 35.7% in the first quarter. Fifth Third Bancorp now owns 266 shares of the company’s stock worth $58,000 after acquiring an additional 70 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s shares.

Analysts set new price targets

A number of research firms recently issued reports on FERG. Royal Bank of Canada decreased their price objective on shares of Ferguson from $217.00 to $211.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 5th. Jefferies Financial Group upped their target price on shares of Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Barclays cut their price objective on shares of Ferguson from $232.00 to $229.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.00, according to MarketBeat.com.

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Ferguson price performance

Shares of FERG stock opened at $211.63 on Thursday. The stock’s 50-day moving average is $202.39, and its two-hundred-day moving average is $207.10. Ferguson plc has a 52-week low of $147.62 and a 52-week high of $225.63. The company has a market cap of $42.74 billion, a PE ratio of 23.13, a P/E/G ratio of 6.18 and a beta of 1.22. The company has a quick ratio of 0.94, a current ratio of 1.68, and a debt-to-equity ratio of 0.64.

Ferguson (NASDAQ:FERG – Get Free Report ) last posted its quarterly 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 net margin of 6.33% and a return on equity of 36.89%. The business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $7.32 billion. In the same quarter last year, the firm earned $2.20 per share. The company’s revenue was up 2.4% compared to the same quarter last year. analysts forecast that Ferguson plc will post 9.66 earnings per share for the current fiscal year.

Ferguson announces dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 14th were paid a $0.79 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a dividend of $3.16 on an annualized basis and a dividend yield of 1.49%. Ferguson’s dividend payout ratio (DPR) is currently 34.54%.

About Ferguson

(Free Report)

Ferguson plc distributes plumbing and heating products in the United States and Canada. It provides plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure and industrial markets. The company also offers expertise, solutions and products including infrastructure, plumbing, appliance, fire, manufacturing and others, as well as heating, ventilation and air conditioning products under the Ferguson brand.