Eventide Asset Management LLC Trims Stock Holdings in Ferguson plc $FERG

Key Points

• Eventide Asset Management LLC reduced its holdings in Ferguson plc by 2.0%, selling 3,439 shares and retaining 172,720 shares worth approximately $27.68 million.
• Several hedge funds, including Vanguard Group Inc. and Bank of New York Mellon Corp, significantly increased their positions in Ferguson, reflecting strong institutional interest.
• Analysts have a consensus rating of "Moderate Buy" on Ferguson, with target prices ranging from $215.00 to $280.00, indicating positive expectations for the company.

Eventide Asset Management LLC decreased its position in Ferguson plc (NASDAQ:FERG - Free Report) by 2.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 172,720 shares of the company's stock after selling 3,439 shares during the quarter. Eventide Asset Management LLC owned 0.09% of Ferguson worth $27,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Grove Bank & Trust lifted its position in Ferguson by 247.4% in the 1st quarter. Grove Bank & Trust now owns 198 shares of the company's stock worth $32,000 after buying an additional 141 shares during the last quarter. TD Private Client Wealth LLC lifted its position in Ferguson by 56.5% in the first 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. Whipplewood Advisors LLC lifted its position in Ferguson by 166.7% in the first quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock valued at $33,000 after purchasing an additional 130 shares during the last quarter. Brooklyn Investment Group lifted its position in Ferguson by 103.6% in the first quarter. Brooklyn Investment Group now owns 226 shares of the company's stock valued at $36,000 after purchasing an additional 115 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in Ferguson in the first quarter valued at approximately $43,000. Institutional investors own 81.98% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on FERG. Royal Bank Of Canada boosted their price objective on Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Morgan Stanley reiterated an "overweight" rating and issued a $220.00 price objective (up previously from $195.00) on shares of Ferguson in a research report on Monday, June 9th. Barclays boosted their price objective on Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Wells Fargo & Company boosted their price objective on Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Berenberg Bank reiterated a "hold" rating and issued a $215.00 price objective on shares of Ferguson in a research report on Thursday, June 5th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $221.00.

Ferguson Stock Down 0.4%

FERG stock traded down $0.94 during midday trading on Monday, hitting $237.40. The stock had a trading volume of 1,450,019 shares, compared to its average volume of 1,684,477. The firm has a market cap of $46.81 billion, a price-to-earnings ratio of 28.50, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. The business has a 50-day moving average of $226.21 and a two-hundred day moving average of $194.85. Ferguson plc has a 52-week low of $146.00 and a 52-week 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.

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.