Brasada Capital Management LP Purchases New Stake in Ferguson plc $FERG

Key Points

• Brasada Capital Management LP made a new investment in Ferguson plc, acquiring 3,938 shares valued at approximately $583,000 during the first quarter of the year.
• Equities analysts have raised their price targets for Ferguson, with Goldman Sachs setting a "buy" rating and a target price of $280.00, contributing to a consensus target of $220.64.
• Ferguson reported strong quarterly earnings, posting $2.50 earnings per share, exceeding estimates, and a revenue increase of 4.3% from the previous year.

Brasada Capital Management LP purchased a new stake in Ferguson plc (NASDAQ:FERG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,938 shares of the company's stock, valued at approximately $583,000.

Several other hedge funds have also added to or reduced their stakes in the company. US Bancorp DE boosted its holdings in Ferguson by 0.8% in the first quarter. US Bancorp DE now owns 7,394 shares of the company's stock valued at $1,185,000 after acquiring an additional 59 shares during the last quarter. Compound Planning Inc. boosted its holdings in Ferguson by 4.6% in the first quarter. Compound Planning Inc. now owns 1,386 shares of the company's stock valued at $222,000 after acquiring an additional 61 shares during the last quarter. Mission Wealth Management LP boosted its holdings in Ferguson by 2.2% in the first quarter. Mission Wealth Management LP now owns 3,050 shares of the company's stock valued at $489,000 after acquiring an additional 67 shares during the last quarter. James Hambro & Partners LLP boosted its holdings in Ferguson by 1.1% in the first quarter. James Hambro & Partners LLP now owns 6,311 shares of the company's stock valued at $1,011,000 after acquiring an additional 70 shares during the last quarter. Finally, Integrated Wealth Concepts LLC boosted its holdings in Ferguson by 6.5% in the fourth quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company's stock valued at $211,000 after acquiring an additional 74 shares during the last quarter. Institutional investors own 81.98% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FERG shares. Royal Bank Of Canada raised their price target on Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Wells Fargo & Company raised their target price on Ferguson from $230.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Morgan Stanley restated an "overweight" rating and set a $220.00 target price (up previously from $195.00) on shares of Ferguson in a report on Monday, June 9th. The Goldman Sachs Group started coverage on Ferguson in a report on Wednesday, June 18th. They set a "buy" rating and a $280.00 target price on the stock. Finally, Berenberg Bank restated a "hold" rating and set a $215.00 target price on shares of Ferguson in a report on Thursday, June 5th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $220.64.

Ferguson Trading Down 1.3%

NASDAQ:FERG opened at $231.13 on Friday. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $238.16. 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 stock has a market capitalization of $45.58 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 1.69 and a beta of 1.16. The business's 50-day simple moving average is $224.67 and its 200-day simple moving average is $192.94.

Ferguson (NASDAQ:FERG - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share (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%.During the same period last year, the firm posted $2.32 earnings per share. Ferguson's revenue was up 4.3% compared to the same quarter last year. Sell-side analysts expect 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.

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