Ferguson plc $FERG Shares Purchased by Amundi

Key Points

• Amundi increased its stake in Ferguson plc by 19.7%, owning approximately 1.00% of the company, valued at $319 million after adding 329,909 shares in the first quarter.
• Ferguson reported $2.50 earnings per share for the last quarter, exceeding analysts' expectations, with a 4.3% revenue increase compared to the previous year.
• Analysts maintain a mixed outlook with ten Buy ratings and six Hold ratings, while price targets have been raised, suggesting growth potential for the stock.

Amundi boosted its position in Ferguson plc (NASDAQ:FERG - Free Report) by 19.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,008,201 shares of the company's stock after purchasing an additional 329,909 shares during the quarter. Amundi owned about 1.00% of Ferguson worth $319,160,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in FERG. T. Rowe Price Investment Management Inc. raised its stake in Ferguson by 101.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,165,873 shares of the company's stock valued at $667,498,000 after purchasing an additional 2,094,029 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Ferguson by 65.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,454,467 shares of the company's stock valued at $713,740,000 after acquiring an additional 1,755,464 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Ferguson by 24.5% during the 1st 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 during the last quarter. Vontobel Holding Ltd. increased its stake in shares of Ferguson by 94.6% during the 1st quarter. Vontobel Holding Ltd. now owns 2,402,527 shares of the company's stock valued at $384,957,000 after acquiring an additional 1,167,751 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Ferguson by 769.5% during the 1st quarter. Wellington Management Group LLP now owns 1,266,954 shares of the company's stock valued at $203,004,000 after acquiring an additional 1,121,249 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company's stock.

Ferguson Stock Performance

Shares of FERG stock traded down $0.94 on Monday, hitting $237.40. 1,450,019 shares of the stock traded hands, compared to its average volume of 1,684,477. 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 company has a market capitalization of $46.81 billion, a PE ratio of 28.50, a PEG ratio of 1.69 and a beta of 1.15. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $243.40. The company's fifty day moving average is $226.21 and its 200 day moving average is $194.85.

Analyst Ratings Changes

A number of research analysts have recently commented on FERG shares. JPMorgan Chase & Co. upped their price objective on shares of Ferguson from $220.00 to $225.00 and gave the company an "overweight" rating in a research note on Thursday. Barclays boosted their target price on Ferguson from $190.00 to $247.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. UBS Group boosted their target price on Ferguson from $173.00 to $204.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Truist Financial reiterated a "buy" rating and set a $230.00 target price on shares of Ferguson in a report on Wednesday, June 4th. Finally, Wells Fargo & Company boosted 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. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock 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.