Ferguson plc (NASDAQ:FERG) Shares Acquired by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in Ferguson plc by 15.9%, owning nearly 3 million shares valued at approximately $479 million as of the end of the last quarter.
• Several institutional investors, including Barclays PLC, have significantly increased their holdings in Ferguson, highlighting a strong interest in the stock among major investors.
• Ferguson's stocks have been rated with a consensus of "Moderate Buy", with price targets set around $220.64 after positive quarterly earnings exceeding analysts' expectations.

Goldman Sachs Group Inc. increased its position in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 15.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,989,999 shares of the company's stock after acquiring an additional 411,088 shares during the quarter. Goldman Sachs Group Inc. owned about 1.50% of Ferguson worth $479,088,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Bessemer Group Inc. raised its position in shares of Ferguson by 1.3% during the fourth quarter. Bessemer Group Inc. now owns 23,615 shares of the company's stock worth $4,099,000 after purchasing an additional 292 shares during the period. Covestor Ltd grew its stake in Ferguson by 221.9% in the fourth quarter. Covestor Ltd now owns 338 shares of the company's stock valued at $59,000 after purchasing an additional 233 shares in the last quarter. Sagespring Wealth Partners LLC bought a new position in Ferguson in the fourth quarter valued at approximately $239,000. Giverny Capital Inc. bought a new position in Ferguson in the fourth quarter valued at approximately $5,851,000. Finally, Barclays PLC grew its stake in Ferguson by 208.8% in the fourth quarter. Barclays PLC now owns 2,678,880 shares of the company's stock valued at $464,973,000 after purchasing an additional 1,811,287 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company's stock.

Ferguson Stock Performance

NASDAQ:FERG traded up $3.00 during mid-day trading on Tuesday, reaching $225.62. The company's stock had a trading volume of 245,016 shares, compared to its average volume of 1,726,690. The stock has a market cap of $44.49 billion, a P/E ratio of 27.09, a PEG ratio of 1.69 and a beta of 1.16. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $228.80. The firm's fifty day moving average price is $219.75 and its two-hundred day moving average price is $188.22.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.06 by $0.44. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. During the same quarter in the prior year, the firm posted $2.32 earnings per share. The company's quarterly revenue was up 4.3% on a year-over-year basis. On average, equities analysts forecast 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 was paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, June 20th. Ferguson's dividend payout ratio is currently 41.40%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on FERG shares. The Goldman Sachs Group started coverage on Ferguson in a research note on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price target for the company. Barclays upped their target price on Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Oppenheimer boosted their target price on shares of Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. boosted their target price on shares of Ferguson from $200.00 to $220.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Finally, Berenberg Bank restated a "hold" rating and issued a $215.00 target price on shares of Ferguson in a research report on Thursday, June 5th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $220.64.

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.