Durable Capital Partners LP Purchases New Stake in Ferguson plc $FERG

Key Points

• Durable Capital Partners LP has made a significant new investment in Ferguson plc, acquiring 730,754 shares totaling approximately $117.09 million in value.
• Ferguson has seen a recent increase in analyst target prices, with Barclays raising its target from $190 to $247, while Oppenheimer increased theirs from $189 to $235.
• The company's stock has been performing well, with a current share price of $231.13, a market cap of $45.58 billion, and a 12-month high of $238.16.

Durable Capital Partners LP acquired a new stake in Ferguson plc (NASDAQ:FERG - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 730,754 shares of the company's stock, valued at approximately $117,089,000. Durable Capital Partners LP owned about 0.37% of Ferguson at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Grove Bank & Trust grew its stake in Ferguson by 247.4% in the 1st quarter. Grove Bank & Trust now owns 198 shares of the company's stock valued at $32,000 after acquiring an additional 141 shares during the last quarter. Whipplewood Advisors LLC boosted its stake in shares of Ferguson by 166.7% during the 1st quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock worth $33,000 after purchasing an additional 130 shares during the last quarter. TD Private Client Wealth LLC boosted its stake 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 worth $33,000 after purchasing an additional 74 shares during the last quarter. Brooklyn Investment Group boosted its stake in shares of Ferguson by 103.6% during the 1st quarter. Brooklyn Investment Group now owns 226 shares of the company's stock worth $36,000 after purchasing an additional 115 shares during the last quarter. Finally, SVB Wealth LLC acquired a new stake in shares of Ferguson during the 1st quarter worth about $43,000. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Trading Up 0.2%

FERG stock traded up $0.44 on Friday, hitting $238.61. 1,861,085 shares of the company were exchanged, compared to its average volume of 1,685,823. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $243.40. 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 business's fifty day moving average is $226.21 and its two-hundred day moving average is $194.65. The stock has a market capitalization of $47.05 billion, a price-to-earnings ratio of 28.65, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15.

Ferguson (NASDAQ:FERG - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 EPS for the quarter, topping the consensus estimate 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 business earned $2.32 earnings per share. The firm's revenue for the quarter was up 4.3% on a year-over-year basis. As a group, research analysts forecast that Ferguson plc will post 9.4 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FERG shares. UBS Group raised their price target on shares of Ferguson from $173.00 to $204.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Barclays raised their price target on shares of Ferguson from $190.00 to $247.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. JPMorgan Chase & Co. raised their price target on shares of Ferguson from $220.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday. The Goldman Sachs Group started coverage on shares of Ferguson in a research note on Wednesday, June 18th. They set a "buy" rating and a $280.00 price target on the stock. Finally, Oppenheimer raised their price target on shares of Ferguson from $189.00 to $235.00 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 MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $221.00.

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.