Amundi Has $308.20 Million Position in Ferguson plc $FERG

Key Points

• Amundi increased its Ferguson stake by 17.3% in the first quarter, adding 195,047 shares to hold 1.32 million shares worth approximately $308.2 million. Institutional investors and hedge funds collectively own 81.98% of Ferguson.
• Analysts maintain a generally positive outlook, with Ferguson receiving a “Moderate Buy” consensus rating and an average price target of $277.21. Recent targets range from $265 to $297, though Goldman Sachs downgraded the stock to “neutral.”
• Ferguson exceeded quarterly earnings expectations with $2.28 in EPS and $7.47 billion in revenue, up 3.6% year over year. The company also authorized a $2 billion share repurchase program, covering up to 3.9% of outstanding shares.

Amundi boosted its position in Ferguson plc (NYSE:FERG - Free Report) by 17.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,321,070 shares of the company's stock after purchasing an additional 195,047 shares during the quarter. Amundi owned about 0.68% of Ferguson worth $308,198,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FERG. EverSource Wealth Advisors LLC grew its stake in shares of Ferguson by 22.2% in the first quarter. EverSource Wealth Advisors LLC now owns 3,476 shares of the company's stock valued at $811,000 after acquiring an additional 632 shares in the last quarter. Empowered Funds LLC raised its stake in Ferguson by 22.0% in the 1st quarter. Empowered Funds LLC now owns 28,435 shares of the company's stock worth $6,633,000 after purchasing an additional 5,122 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Ferguson by 2.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 12,590 shares of the company's stock worth $2,931,000 after purchasing an additional 305 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Ferguson by 109.9% in the 1st quarter. Lazard Asset Management LLC now owns 17,399 shares of the company's stock valued at $4,058,000 after purchasing an additional 9,108 shares during the period. Finally, Cardiff Park Advisors LLC bought a new stake in Ferguson in the 1st quarter valued at about $277,000. 81.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FERG has been the topic of several recent research reports. Royal Bank Of Canada raised their target price on shares of Ferguson from $271.00 to $281.00 and gave the stock an "outperform" rating in a report on Wednesday, May 6th. Barclays boosted their price target on Ferguson from $295.00 to $297.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Wells Fargo & Company raised their price objective on Ferguson from $260.00 to $285.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. The Goldman Sachs Group cut Ferguson from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $315.00 to $265.00 in a report on Monday, July 6th. Finally, Citigroup reiterated a "neutral" rating on shares of Ferguson in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Ferguson presently has an average rating of "Moderate Buy" and an average price target of $277.21.

Ferguson Price Performance

FERG stock opened at $226.38 on Thursday. The company's 50-day moving average price is $230.34 and its two-hundred day moving average price is $240.64. The firm has a market cap of $43.90 billion, a P/E ratio of 26.32, a P/E/G ratio of 1.64 and a beta of 1.13. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68. Ferguson plc has a 12 month low of $207.64 and a 12 month high of $271.64.

Ferguson (NYSE:FERG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $0.14. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The company had revenue of $7.47 billion during the quarter. During the same period last year, the company posted $2.50 EPS. The business's revenue was up 3.6% on a year-over-year basis. On average, analysts anticipate that Ferguson plc will post 11.25 earnings per share for the current fiscal year.

Ferguson announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

About Ferguson

Ferguson NYSE: FERG is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.

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