Ferguson plc $FERG Shares Sold by Credit Agricole S A

Key Points

• Credit Agricole S A has reduced its holdings in Ferguson plc by 12.0%, selling 2,867 shares, and now owns 21,029 shares valued at approximately $3.37 million.
• Ferguson reported a strong earnings performance with a $2.50 EPS for the last quarter, which exceeded analyst expectations and represented a year-over-year revenue increase of 4.3%.
• The stock has been rated with a consensus "Moderate Buy" by analysts, with target prices ranging from $220.00 to $280.00, indicating positive future expectations for the company.

Credit Agricole S A decreased its holdings in Ferguson plc (NASDAQ:FERG - Free Report) by 12.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,029 shares of the company's stock after selling 2,867 shares during the quarter. Credit Agricole S A's holdings in Ferguson were worth $3,369,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Ferguson by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 19,168,743 shares of the company's stock valued at $3,071,408,000 after buying an additional 806,718 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Ferguson by 24.5% in the first quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company's stock valued at $1,227,410,000 after acquiring an additional 1,506,024 shares in the last quarter. Invesco Ltd. boosted its holdings in Ferguson by 13.8% in the first quarter. Invesco Ltd. now owns 6,818,800 shares of the company's stock valued at $1,092,576,000 after purchasing an additional 827,355 shares during the period. Janus Henderson Group PLC grew its stake in Ferguson by 1.3% during the 4th quarter. Janus Henderson Group PLC now owns 4,935,419 shares of the company's stock worth $856,746,000 after purchasing an additional 62,887 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in Ferguson by 29.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 3,635,707 shares of the company's stock worth $582,452,000 after purchasing an additional 831,112 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Oppenheimer increased their price target on Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Morgan Stanley reaffirmed an "overweight" rating and issued a $220.00 target price (up previously from $195.00) on shares of Ferguson in a report on Monday, June 9th. Wells Fargo & Company lifted their price target on shares of Ferguson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. UBS Group increased their price objective on shares of Ferguson from $173.00 to $204.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Finally, Royal Bank Of Canada lifted their price objective on shares of Ferguson from $189.00 to $231.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Ferguson has an average rating of "Moderate Buy" and an average target price of $220.64.

Ferguson Stock Performance

NASDAQ:FERG traded down $0.73 during mid-day trading on Thursday, reaching $234.39. 214,213 shares of the stock were exchanged, compared to its average volume of 1,681,555. The stock has a market capitalization of $46.22 billion, a P/E ratio of 28.14, a P/E/G ratio of 1.69 and a beta of 1.16. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $238.16. The company has a 50 day simple moving average of $223.96 and a 200-day simple moving average of $192.24. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. During the same quarter last year, the firm earned $2.32 EPS. The company's revenue was up 4.3% on a year-over-year basis. Analysts anticipate 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.