Ferguson plc $FERG Shares Acquired by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its stake in Ferguson plc by 191.1%, acquiring an additional 12,593 shares, bringing their total holdings to 19,184 shares valued at approximately $3.07 million.
• Ferguson plc's stock is experiencing a slight decline, currently down 1.3%, with a market value of $45.58 billion and a price-to-earnings ratio of 27.75.
• Analysts have varying price targets for Ferguson, with Goldman Sachs setting a "buy" rating and a target of $280.00, while the consensus price target is around $220.64.

Ieq Capital LLC increased its position in Ferguson plc (NASDAQ:FERG - Free Report) by 191.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,184 shares of the company's stock after acquiring an additional 12,593 shares during the period. Ieq Capital LLC's holdings in Ferguson were worth $3,074,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Ferguson by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 19,168,743 shares of the company's stock worth $3,071,408,000 after acquiring an additional 806,718 shares during the period. Bank of New York Mellon Corp increased its position 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 acquiring an additional 1,506,024 shares during the period. Invesco Ltd. increased its position in Ferguson by 13.8% in the 1st quarter. Invesco Ltd. now owns 6,818,800 shares of the company's stock valued at $1,092,576,000 after acquiring an additional 827,355 shares during the period. Janus Henderson Group PLC increased its position in Ferguson by 1.3% in the 4th quarter. Janus Henderson Group PLC now owns 4,935,419 shares of the company's stock valued at $856,746,000 after acquiring an additional 62,887 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Ferguson by 65.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,454,467 shares of the company's stock valued at $713,740,000 after acquiring an additional 1,755,464 shares during the period. Institutional investors and hedge funds own 81.98% of the company's stock.

Ferguson Price Performance

Shares of FERG stock traded up $6.28 during mid-day trading on Thursday, hitting $236.20. 1,289,150 shares of the stock traded hands, compared to its average volume of 1,676,825. The company's 50-day simple moving average is $225.40 and its 200-day simple moving average is $193.92. The firm has a market cap of $46.57 billion, a price-to-earnings ratio of 28.37, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $238.16.

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, 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%. Ferguson's quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.32 EPS. As a group, equities research analysts expect that Ferguson plc will post 9.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

FERG has been the topic of several analyst reports. Wells Fargo & Company raised their target price on Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Oppenheimer raised their target price on shares of Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. The Goldman Sachs Group began coverage on shares of Ferguson in a research note on Wednesday, June 18th. They set a "buy" rating and a $280.00 target price on the stock. Berenberg Bank reissued a "hold" rating and set a $215.00 target price on shares of Ferguson in a research note on Thursday, June 5th. Finally, Barclays raised their target price on shares of Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a research note 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $221.00.

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.