Ascent Group LLC Grows Stock Holdings in Ferguson plc $FERG

Ascent Group LLC grew its holdings in shares of Ferguson plc (NASDAQ:FERG) by 10.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 10,447 shares of the company’s stock after purchasing an additional 993 shares during the period. Ascent Group LLC’s holdings in Ferguson were worth $2,275,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Asset Advisors Investment Management LLC lifted its holdings in shares of Ferguson by 44.4% during the second quarter. Asset Advisors Investment Management LLC now owns 3,552 shares of the company’s stock valued at $773,000 after purchasing an additional 1,092 shares during the last quarter. Hilltop National Bank purchased a new position in shares of Ferguson during the second quarter valued at approximately $197,000. Triad Wealth Partners LLC purchased a new position in shares of Ferguson during the second quarter valued at approximately $207,000. BSW Wealth Partners purchased a new position in shares of Ferguson during the second quarter valued at approximately $273,000. Finally, Woodward Diversified Capital LLC purchased a new position in shares of Ferguson during the second quarter valued at approximately $226,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Morgan Stanley restated an “overweight” rating on shares of Ferguson in a report on Wednesday, September 10th. Royal Bank Of Canada boosted their price objective on shares of Ferguson from $231.00 to $243.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Robert W. Baird boosted their price objective on shares of Ferguson from $260.00 to $262.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. The Goldman Sachs Group assumed coverage on shares of Ferguson in a report on Wednesday, June 18th. They issued a “buy” rating and a $280.00 price objective for the company. Finally, Barclays boosted their price objective on shares of Ferguson from $247.00 to $273.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $235.71.

Ferguson Trading Up 0.1%

Shares of FERG stock opened at $231.93 on Friday. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $243.40. The firm has a fifty day moving average price of $228.25 and a 200-day moving average price of $202.90. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The company has a market cap of $45.49 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 1.69 and a beta of 1.17.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $3.32 annualized dividend and a yield of 1.4%. Ferguson’s dividend payout ratio is currently 35.55%.

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.