Alyeska Investment Group L.P. Trims Holdings in Ferguson plc $FERG

Key Points

• Alyeska Investment Group L.P. reduced its stake in Ferguson plc by 98.4%, selling 279,333 shares and now holding only 4,513 shares valued at approximately $723,000.
• Several other institutional investors adjusted their positions in Ferguson; most notably, Grove Bank & Trust increased its stake by 247.4%.
• Wall Street analysts have a positive outlook on Ferguson, with ratings ranging from "Buy" to "Overweight" and average price targets between $221.00 and $280.00.

Alyeska Investment Group L.P. cut its holdings in Ferguson plc (NASDAQ:FERG - Free Report) by 98.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,513 shares of the company's stock after selling 279,333 shares during the quarter. Alyeska Investment Group L.P.'s holdings in Ferguson were worth $723,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. 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 period. Whipplewood Advisors LLC increased its holdings in shares of 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 period. TD Private Client Wealth LLC increased its holdings in shares of 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 period. Brooklyn Investment Group increased its holdings in shares of 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 period. Finally, SVB Wealth LLC acquired a new position in shares of Ferguson in the first quarter valued at about $43,000. 81.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FERG has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on Ferguson in a report on Wednesday, June 18th. They set a "buy" rating and a $280.00 target price on the stock. UBS Group raised 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. JPMorgan Chase & Co. raised their target price on Ferguson from $220.00 to $225.00 and gave the stock an "overweight" rating in a report on Thursday, September 4th. Morgan Stanley reissued an "overweight" rating on shares of Ferguson in a report on Wednesday. Finally, Barclays raised their price objective on Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $221.00.

Ferguson Price Performance

Shares of NASDAQ FERG traded down $14.49 during midday trading on Friday, hitting $211.23. The stock had a trading volume of 4,185,406 shares, compared to its average volume of 1,721,694. The company has a market capitalization of $41.65 billion, a PE ratio of 25.36, a P/E/G ratio of 1.69 and a beta of 1.15. The stock has a 50 day simple moving average of $226.61 and a 200-day simple moving average of $196.33. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $243.40. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83.

Ferguson Announces Dividend

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

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.