Adage Capital Partners GP L.L.C. Purchases 7,000 Shares of Ferguson plc $FERG

Key Points

• Adage Capital Partners GP L.L.C. increased its position in Ferguson plc by 3.5% in Q1, acquiring an additional 7,000 shares, bringing their total ownership to approximately $33.3 million.
• Research analysts have given Ferguson a consensus rating of "Moderate Buy," with price targets ranging from $204.00 to $250.00, following recent upgrades from firms including Oppenheimer and Wells Fargo.
• Ferguson reported earnings of $2.50 per share in its latest quarter, surpassing estimates by $0.44, and expects a total EPS of 9.4 for the current fiscal year.

Adage Capital Partners GP L.L.C. boosted its position in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 3.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 207,739 shares of the company's stock after acquiring an additional 7,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.10% of Ferguson worth $33,286,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of FERG. Grove Bank & Trust increased its holdings in shares of Ferguson by 247.4% in the first quarter. Grove Bank & Trust now owns 198 shares of the company's stock valued at $32,000 after purchasing an additional 141 shares during the last quarter. Whipplewood Advisors LLC raised its position in shares of Ferguson by 166.7% in the 1st quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock worth $33,000 after buying an additional 130 shares during the period. TD Private Client Wealth LLC grew its stake in shares of Ferguson by 56.5% during the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock valued at $33,000 after acquiring an additional 74 shares in the last quarter. Brooklyn Investment Group lifted its holdings in Ferguson by 103.6% in the first quarter. Brooklyn Investment Group now owns 226 shares of the company's stock worth $36,000 after acquiring an additional 115 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of Ferguson during the first quarter valued at approximately $43,000. Institutional investors and hedge funds own 81.98% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Ferguson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. UBS Group upped their target price on shares of Ferguson from $173.00 to $204.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Oppenheimer increased their target price on shares of Ferguson from $189.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Morgan Stanley restated an "overweight" rating and set a $220.00 target price (up previously from $195.00) on shares of Ferguson in a research note on Monday, June 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Ferguson from $220.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $221.00.

Ferguson Trading Down 0.4%

Shares of NASDAQ:FERG traded down $0.94 during trading on Monday, reaching $237.40. The stock had a trading volume of 1,450,019 shares, compared to its average volume of 1,684,477. The firm's fifty day moving average is $226.21 and its 200 day moving average is $194.85. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $243.40. The stock has a market cap of $46.81 billion, a price-to-earnings ratio of 28.50, a P/E/G ratio of 1.69 and a beta of 1.15.

Ferguson Company 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.