ICONIQ Capital LLC Purchases Shares of 1,279 Ferguson plc $FERG

Key Points

• ICONIQ Capital LLC has made a new investment in Ferguson plc, acquiring 1,279 shares valued at approximately $205,000 in the first quarter.
• Multiple institutional investors have increased their stakes in Ferguson, resulting in 81.98% of the stock being owned by hedge funds and other institutional investors.
• Analysts have positively rated Ferguson with a consensus target price of $220.64, indicating expectations for continued growth in the company's performance.

ICONIQ Capital LLC bought a new stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,279 shares of the company's stock, valued at approximately $205,000.

Other large investors also recently added to or reduced their stakes in the company. Oliver Luxxe Assets LLC lifted its holdings in Ferguson by 0.7% in the first quarter. Oliver Luxxe Assets LLC now owns 18,646 shares of the company's stock valued at $2,988,000 after buying an additional 122 shares during the period. SVB Wealth LLC acquired a new position in shares of Ferguson in the 1st quarter valued at $43,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Ferguson by 37.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 642 shares of the company's stock valued at $103,000 after purchasing an additional 176 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Ferguson by 7.6% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 343,038 shares of the company's stock valued at $54,965,000 after purchasing an additional 24,099 shares during the period. Finally, Groupe la Francaise lifted its stake in shares of Ferguson by 19.6% in the 1st quarter. Groupe la Francaise now owns 19,615 shares of the company's stock valued at $3,197,000 after purchasing an additional 3,211 shares during the period. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FERG has been the topic of several analyst reports. Berenberg Bank reissued a "hold" rating and issued a $215.00 target price on shares of Ferguson in a research note on Thursday, June 5th. Wells Fargo & Company increased their target price on Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. increased their price target 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. The Goldman Sachs Group started coverage on shares of Ferguson in a research report on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price target on the stock. Finally, Barclays increased their target price on shares of Ferguson from $190.00 to $247.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $220.64.

Ferguson Stock Down 1.3%

FERG traded down $3.11 during trading on Friday, reaching $231.13. The company had a trading volume of 1,271,018 shares, compared to its average volume of 1,682,721. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $238.16. The business's fifty day moving average price is $224.67 and its 200 day moving average price is $193.02. The company has a market cap of $45.58 billion, a P/E ratio of 27.75, a PEG ratio of 1.69 and a beta of 1.16.

Ferguson (NASDAQ:FERG - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 EPS for the quarter, topping analysts' consensus estimates 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 quarter last year, the business earned $2.32 EPS. The company's revenue for the quarter was up 4.3% on a year-over-year basis. Equities analysts anticipate that Ferguson plc will post 9.4 EPS for the current year.

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.