Envestnet Asset Management Inc. Has $100.83 Million Stock Position in Ferguson plc (NASDAQ:FERG)

Envestnet Asset Management Inc. cut its stake in Ferguson plc (NASDAQ:FERG - Free Report) by 19.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 629,254 shares of the company's stock after selling 155,289 shares during the period. Envestnet Asset Management Inc. owned 0.31% of Ferguson worth $100,825,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FERG. Bank of New York Mellon Corp raised its holdings in shares of Ferguson by 24.5% during the first quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company's stock worth $1,227,410,000 after purchasing an additional 1,506,024 shares during the period. Timber Creek Capital Management LLC raised its holdings in shares of Ferguson by 715.7% during the first quarter. Timber Creek Capital Management LLC now owns 20,499 shares of the company's stock worth $3,285,000 after purchasing an additional 17,986 shares during the period. IFM Investors Pty Ltd raised its holdings in shares of Ferguson by 8.2% during the first quarter. IFM Investors Pty Ltd now owns 44,312 shares of the company's stock worth $7,100,000 after purchasing an additional 3,361 shares during the period. OneDigital Investment Advisors LLC raised its holdings in shares of Ferguson by 30.6% during the first quarter. OneDigital Investment Advisors LLC now owns 4,242 shares of the company's stock worth $680,000 after purchasing an additional 995 shares during the period. Finally, Fisher Funds Management LTD raised its holdings in shares of Ferguson by 55.4% during the first quarter. Fisher Funds Management LTD now owns 150,002 shares of the company's stock worth $24,035,000 after purchasing an additional 53,470 shares during the period. 81.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FERG has been the topic of a number of research reports. The Goldman Sachs Group initiated coverage on shares of Ferguson in a report on Wednesday, June 18th. They set a "buy" rating and a $280.00 target price on the stock. Wolfe Research started coverage on shares of Ferguson in a report on Monday, March 17th. They issued a "peer perform" rating on the stock. UBS Group increased their price objective on shares of Ferguson from $173.00 to $204.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Barclays increased their price objective on shares of Ferguson from $190.00 to $247.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Finally, Royal Bank Of Canada increased their target price on shares of Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $222.60.

Ferguson Price Performance

Shares of NASDAQ:FERG traded down $3.49 during trading hours on Friday, hitting $220.91. 349,156 shares of the company's stock traded hands, compared to its average volume of 1,676,922. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $226.63. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. The company's fifty day simple moving average is $199.88 and its two-hundred day simple moving average is $180.90. The company has a market cap of $43.56 billion, a price-to-earnings ratio of 26.54, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. During the same period in the previous year, the business earned $2.32 earnings per share. The business's quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities analysts anticipate that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Friday, June 20th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, June 20th. Ferguson's payout ratio is 41.40%.

Ferguson 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.