Algert Global LLC Sells 4,737 Shares of Ferguson plc $FERG

Key Points

• Algert Global LLC reduced its stake in Ferguson plc by 71.5%, owning 1,886 shares worth $302,000 according to a recent SEC disclosure.
• Institutional investors and hedge funds collectively own approximately 81.98% of Ferguson's stock, with notable increases in holdings from firms like Vanguard Group and Bank of New York Mellon.
• Ferguson reported a quarterly EPS of $2.50, exceeding expectations, with a projected EPS of 9.4 for the current fiscal year.

Algert Global LLC lowered its position in Ferguson plc (NASDAQ:FERG - Free Report) by 71.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,886 shares of the company's stock after selling 4,737 shares during the period. Algert Global LLC's holdings in Ferguson were worth $302,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Ferguson by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 19,168,743 shares of the company's stock worth $3,071,408,000 after acquiring an additional 806,718 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Ferguson by 24.5% in the 1st quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company's stock worth $1,227,410,000 after acquiring an additional 1,506,024 shares in the last quarter. Invesco Ltd. raised its position in shares of Ferguson by 13.8% in the 1st quarter. Invesco Ltd. now owns 6,818,800 shares of the company's stock worth $1,092,576,000 after acquiring an additional 827,355 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Ferguson by 1.3% in the 4th quarter. Janus Henderson Group PLC now owns 4,935,419 shares of the company's stock worth $856,746,000 after acquiring an additional 62,887 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its position in shares of Ferguson by 29.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 3,635,707 shares of the company's stock worth $582,452,000 after acquiring an additional 831,112 shares in the last quarter. Institutional investors own 81.98% of the company's stock.

Analysts Set New Price Targets

FERG has been the subject of several research reports. UBS Group increased their target price on Ferguson from $173.00 to $204.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Wells Fargo & Company raised their price objective on Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Berenberg Bank reaffirmed a "hold" rating and set a $215.00 price objective on shares of Ferguson in a research report on Thursday, June 5th. Barclays raised their price objective on Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. raised their price objective on Ferguson from $200.00 to $220.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $220.64.

Ferguson Stock Down 0.5%

FERG traded down $1.17 during trading on Thursday, hitting $233.95. 778,898 shares of the company's stock traded hands, compared to its average volume of 1,685,232. The company's 50 day simple moving average is $223.96 and its two-hundred day simple moving average is $192.24. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $238.16. The stock has a market capitalization of $46.13 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 1.69 and a beta of 1.16.

Ferguson (NASDAQ:FERG - Get Free Report) last issued 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%.The company's revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.32 EPS. Analysts predict that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

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.