Concentric Capital Strategies LP Purchases Shares of 8,502 Ferguson plc $FERG

Key Points

• Concentric Capital Strategies LP has acquired a new position in Ferguson plc, purchasing 8,502 shares valued at approximately $1.36 million.
• Institutional investors own 81.98% of Ferguson's stock, indicating a strong interest from larger financial entities.
• Several analysts have upgraded their price targets for Ferguson, with Barclays raising it to $247.00 and the stock receiving a consensus rating of "Moderate Buy."

Concentric Capital Strategies LP purchased a new stake in Ferguson plc (NASDAQ:FERG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,502 shares of the company's stock, valued at approximately $1,362,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE increased its position in shares of Ferguson by 0.8% during the 1st quarter. US Bancorp DE now owns 7,394 shares of the company's stock valued at $1,185,000 after purchasing an additional 59 shares during the last quarter. Compound Planning Inc. increased its position in shares of Ferguson by 4.6% during the 1st quarter. Compound Planning Inc. now owns 1,386 shares of the company's stock valued at $222,000 after purchasing an additional 61 shares during the last quarter. Mission Wealth Management LP increased its position in shares of Ferguson by 2.2% during the 1st quarter. Mission Wealth Management LP now owns 3,050 shares of the company's stock valued at $489,000 after purchasing an additional 67 shares during the last quarter. James Hambro & Partners LLP increased its position in shares of Ferguson by 1.1% during the 1st quarter. James Hambro & Partners LLP now owns 6,311 shares of the company's stock valued at $1,011,000 after purchasing an additional 70 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its position in shares of Ferguson by 56.5% during the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Stock Down 0.4%

Ferguson stock traded down $0.94 during mid-day trading on Monday, hitting $237.40. The company had a trading volume of 1,450,019 shares, compared to its average volume of 1,684,477. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The stock's 50 day moving average price is $226.21 and its two-hundred day moving average price is $194.85. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $243.40. The company has a market capitalization of $46.81 billion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Truist Financial reiterated a "buy" rating and set a $230.00 price target on shares of Ferguson in a research note on Wednesday, June 4th. Berenberg Bank reiterated a "hold" rating and set a $215.00 price target on shares of Ferguson in a research note on Thursday, June 5th. The Goldman Sachs Group began coverage on Ferguson in a research note on Wednesday, June 18th. They set a "buy" rating and a $280.00 price target for the company. JPMorgan Chase & Co. raised their target price on Ferguson from $220.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Royal Bank Of Canada raised their target price on Ferguson from $189.00 to $231.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Ferguson presently has an average rating of "Moderate Buy" and an average target price of $221.00.

About Ferguson

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.