Ferguson plc $FERG is Crow s Nest Holdings LP's 5th Largest Position

Key Points

• Crow’s Nest Holdings LP reduced its shares in Ferguson plc by 26.1%, selling 81,000 shares and now holding 229,000 shares, which represents 9.1% of its investment portfolio.
• Ferguson recent earnings report showed $2.50 earnings per share (EPS), surpassing analysts’ expectations, with revenue growth of 4.3% year-over-year.
• Several analysts have raised their price targets for Ferguson, with Barclays setting a new target of $247.00, indicating a strong outlook with a consensus rating of "Moderate Buy".

Crow s Nest Holdings LP lessened its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 26.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 229,000 shares of the company's stock after selling 81,000 shares during the period. Ferguson accounts for approximately 9.1% of Crow s Nest Holdings LP's investment portfolio, making the stock its 5th biggest position. Crow s Nest Holdings LP owned about 0.11% of Ferguson worth $36,693,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its position in shares of Ferguson by 101.1% in the first 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 in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Ferguson by 65.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,454,467 shares of the company's stock worth $713,740,000 after buying an additional 1,755,464 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Ferguson by 24.5% in 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 buying an additional 1,506,024 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of Ferguson by 94.6% in the 1st quarter. Vontobel Holding Ltd. now owns 2,402,527 shares of the company's stock worth $384,957,000 after acquiring an additional 1,167,751 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings 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 worth $203,004,000 after acquiring an additional 1,121,249 shares during the period. 81.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FERG has been the subject of several recent analyst reports. Morgan Stanley restated an "overweight" rating and set a $220.00 price objective (up from $195.00) on shares of Ferguson in a research report on Monday, June 9th. JPMorgan Chase & Co. raised their price target on shares of Ferguson from $220.00 to $225.00 and gave the stock an "overweight" rating in a report on Thursday. Royal Bank Of Canada upped their price objective on Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. The Goldman Sachs Group began coverage on Ferguson in a research note on Wednesday, June 18th. They set a "buy" rating and a $280.00 target price for the company. Finally, Truist Financial reaffirmed a "buy" rating and issued a $230.00 price target on shares of Ferguson in a research note 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 company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $221.00.

Ferguson Trading Down 0.4%

Shares of FERG stock traded down $0.94 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 company's 50 day moving average price is $226.21 and its 200-day moving average price is $194.85. Ferguson plc has a 1 year low of $146.00 and a 1 year 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. The firm has a market capitalization of $46.81 billion, a P/E ratio of 28.50, a P/E/G ratio of 1.69 and a beta of 1.15.

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.