Arrowstreet Capital Limited Partnership Has $11.45 Million Stake in Ferguson plc $FERG

Key Points

• Arrowstreet Capital increased its Ferguson stake by 1,299.7% in the first quarter, holding 49,114 shares valued at approximately $11.45 million. Institutional investors collectively own 81.98% of Ferguson.
• Ferguson reported quarterly EPS of $2.28, exceeding the $2.14 analyst consensus, while revenue rose 3.6% year over year to $7.47 billion.
• The company authorized a $2 billion share buyback, covering up to 3.9% of outstanding shares. Analysts maintain a “Moderate Buy” consensus with an average price target of $277.21, versus a recent price of $234.49.

Arrowstreet Capital Limited Partnership raised its holdings in Ferguson plc (NYSE:FERG - Free Report) by 1,299.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,114 shares of the company's stock after purchasing an additional 45,605 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in Ferguson were worth $11,446,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in FERG. Vanguard Group Inc. increased its holdings in shares of Ferguson by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 19,418,334 shares of the company's stock valued at $4,323,104,000 after purchasing an additional 102,850 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Ferguson by 150.8% during the 4th quarter. Wellington Management Group LLP now owns 9,366,465 shares of the company's stock worth $2,085,256,000 after buying an additional 5,631,554 shares in the last quarter. Janus Henderson Group PLC boosted its position in Ferguson by 7.8% in the 4th quarter. Janus Henderson Group PLC now owns 5,981,791 shares of the company's stock valued at $1,331,621,000 after buying an additional 434,650 shares during the last quarter. State Street Corp boosted its position in Ferguson by 1.8% in the 4th quarter. State Street Corp now owns 4,516,764 shares of the company's stock valued at $1,005,567,000 after buying an additional 79,296 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Ferguson by 0.6% in the 4th quarter. Franklin Resources Inc. now owns 4,393,603 shares of the company's stock valued at $977,959,000 after buying an additional 25,785 shares during the period. Institutional investors own 81.98% of the company's stock.

Ferguson Stock Performance

Shares of Ferguson stock opened at $234.49 on Friday. The company has a market capitalization of $45.48 billion, a PE ratio of 27.27, a PEG ratio of 1.60 and a beta of 1.13. Ferguson plc has a 12 month low of $207.64 and a 12 month high of $271.64. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68. The stock's fifty day simple moving average is $230.62 and its 200 day simple moving average is $240.52.

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

Ferguson announced that its Board of Directors has initiated a stock buyback program on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently weighed in on FERG shares. Zelman & Associates upgraded shares of Ferguson from a "hold" rating to an "outperform" rating and set a $285.00 price objective on the stock in a report on Friday, July 17th. Weiss Ratings raised shares of Ferguson from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 2nd. The Goldman Sachs Group cut shares of Ferguson from a "buy" rating to a "neutral" rating and dropped their target price for the company from $315.00 to $265.00 in a research report on Monday, July 6th. Wells Fargo & Company raised their price target on Ferguson from $260.00 to $285.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Ferguson in a research note 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 company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $277.21.

Ferguson Profile

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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