Korea Investment CORP Has $27.58 Million Stock Holdings in Ferguson plc $FERG

Key Points

• Korea Investment CORP increased its stake in Ferguson plc by 33.9% during the first quarter, bringing its total ownership to 172,131 shares, valued at approximately $27.58 million.
• Ferguson plc's stock has seen growth, with a 1-year return of earnings per share at $2.50, surpassing analyst estimates and indicating a 4.3% increase in revenue compared to last year.
• Analysts have revised their price targets for Ferguson, with Wells Fargo raising its target from $230 to $250, reflecting a generally positive outlook across multiple investment firms.

Korea Investment CORP increased its stake in Ferguson plc (NASDAQ:FERG - Free Report) by 33.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 172,131 shares of the company's stock after purchasing an additional 43,576 shares during the period. Korea Investment CORP owned approximately 0.09% of Ferguson worth $27,581,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 806,718 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Ferguson by 24.5% during the 1st quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company's stock worth $1,227,410,000 after buying an additional 1,506,024 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Ferguson by 13.8% during the 1st quarter. Invesco Ltd. now owns 6,818,800 shares of the company's stock worth $1,092,576,000 after buying an additional 827,355 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Ferguson by 1.3% during the 4th quarter. Janus Henderson Group PLC now owns 4,935,419 shares of the company's stock worth $856,746,000 after buying an additional 62,887 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Ferguson by 29.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 3,635,707 shares of the company's stock worth $582,452,000 after buying an additional 831,112 shares during the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FERG has been the subject of a number of recent research reports. Barclays increased their price objective on shares of Ferguson from $190.00 to $247.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Oppenheimer upped their target price on shares of Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. upped their target price on shares of Ferguson from $200.00 to $220.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Berenberg Bank reaffirmed a "hold" rating and issued a $215.00 target price on shares of Ferguson in a report on Thursday, June 5th. Finally, The Goldman Sachs Group began coverage on shares of Ferguson in a report on Wednesday, June 18th. They issued a "buy" rating and a $280.00 target price on the stock. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $220.64.

Ferguson Stock Performance

Shares of NASDAQ:FERG traded up $4.1880 on Friday, reaching $233.2480. 1,664,452 shares of the company's stock were exchanged, compared to its average volume of 1,703,642. The company has a fifty day moving average of $222.72 and a 200-day moving average of $191.14. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $238.16. The company has a market capitalization of $45.99 billion, a price-to-earnings ratio of 28.00, 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 (NASDAQ:FERG - Get Free Report) last posted its quarterly earnings results 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%. During the same quarter last year, the business posted $2.32 EPS. Ferguson's revenue for the quarter was up 4.3% on a year-over-year basis. On average, research analysts predict that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Friday, June 20th were paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, June 20th. Ferguson's dividend payout ratio (DPR) is currently 41.40%.

Ferguson Company 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.