ThornTree Capital Partners LP Has $11.96 Million Stake in Ferguson plc $FERG

Key Points

• ThornTree Capital Partners LP has increased its stake in Ferguson plc by 27.2%, now owning 74,667 shares worth approximately $11.96 million, making it one of the largest institutional investors in the company.
• Ferguson's stock has received several price target upgrades from analysts, with Oppenheimer raising its target from $189.00 to $235.00 and Wells Fargo from $230.00 to $250.00.
• The company's shares opened at $238.61 with a market cap of $47.05 billion, reflecting strong investor interest and positive outlook in the market.

ThornTree Capital Partners LP grew its holdings in Ferguson plc (NASDAQ:FERG - Free Report) by 27.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,667 shares of the company's stock after acquiring an additional 15,956 shares during the quarter. Ferguson accounts for about 2.6% of ThornTree Capital Partners LP's investment portfolio, making the stock its 17th largest holding. ThornTree Capital Partners LP's holdings in Ferguson were worth $11,964,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FERG. Algert Global LLC increased its holdings in shares of Ferguson by 5.3% in the fourth quarter. Algert Global LLC now owns 6,623 shares of the company's stock worth $1,150,000 after acquiring an additional 335 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Ferguson by 3.9% in the fourth quarter. Captrust Financial Advisors now owns 13,656 shares of the company's stock worth $2,370,000 after acquiring an additional 514 shares in the last quarter. Brevan Howard Capital Management LP bought a new stake in shares of Ferguson in the fourth quarter worth about $551,000. Centiva Capital LP bought a new stake in shares of Ferguson in the fourth quarter worth about $480,000. Finally, Cetera Investment Advisers increased its holdings in shares of Ferguson by 16.9% in the fourth quarter. Cetera Investment Advisers now owns 10,452 shares of the company's stock worth $1,814,000 after acquiring an additional 1,511 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors.

Ferguson Stock Down 6.5%

FERG stock traded down $14.62 during mid-day trading on Friday, reaching $211.10. The company had a trading volume of 1,899,412 shares, compared to its average volume of 1,707,467. 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 stock has a 50 day simple moving average of $226.85 and a two-hundred day simple moving average of $196.07. The company has a market capitalization of $41.62 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 1.69 and a beta of 1.15. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $243.40.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, September 26th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, September 26th. Ferguson's dividend payout ratio (DPR) is currently 41.40%.

Wall Street Analyst Weigh In

FERG has been the subject of several recent analyst reports. The Goldman Sachs Group assumed coverage on Ferguson in a report on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price target for the company. JPMorgan Chase & Co. increased their price objective on Ferguson from $220.00 to $225.00 and gave the stock an "overweight" rating in a report on Thursday, September 4th. Royal Bank Of Canada increased their price objective on Ferguson from $189.00 to $231.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Truist Financial reiterated a "buy" rating and set a $230.00 price objective on shares of Ferguson in a report on Wednesday, June 4th. Finally, Oppenheimer increased their price objective on Ferguson from $189.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.