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Martingale Asset Management L P Reduces Holdings in Ferguson plc $FERG

Ferguson logo with Industrials background

Key Points

  • Martingale Asset Management dramatically reduced its stake in Ferguson plc by 81.7% in the first quarter, leaving it with 11,601 shares valued at approximately $1.86 million.
  • Several other institutional investors have increased their stakes, including Grove Bank & Trust, which raised its holdings by 247.4%.
  • Ferguson recently posted a quarterly earnings of $2.50 per share, exceeding estimates by $0.44, along with an annualized dividend yield of 1.4%.
  • Want stock alerts on Ferguson? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Martingale Asset Management L P lowered its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 81.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,601 shares of the company's stock after selling 51,884 shares during the quarter. Martingale Asset Management L P's holdings in Ferguson were worth $1,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Grove Bank & Trust boosted its holdings in shares of Ferguson by 247.4% in the 1st quarter. Grove Bank & Trust now owns 198 shares of the company's stock valued at $32,000 after buying an additional 141 shares in the last quarter. Whipplewood Advisors LLC lifted its position in Ferguson by 166.7% during the first quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock valued at $33,000 after acquiring an additional 130 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in Ferguson by 56.5% in the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock valued at $33,000 after acquiring an additional 74 shares in the last quarter. LGT Financial Advisors LLC grew its holdings in Ferguson by 106.3% in the fourth quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock worth $34,000 after purchasing an additional 102 shares during the last quarter. Finally, Brooklyn Investment Group increased its position in shares of Ferguson by 103.6% during the first quarter. Brooklyn Investment Group now owns 226 shares of the company's stock worth $36,000 after purchasing an additional 115 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors.

Ferguson Price Performance

Shares of NASDAQ:FERG traded down $0.65 during midday trading on Thursday, hitting $234.48. The company's stock had a trading volume of 234,467 shares, compared to its average volume of 1,681,800. The business's 50 day simple moving average is $223.96 and its 200 day simple moving average is $192.24. 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 has a market cap of $46.23 billion, a P/E ratio of 28.15, a price-to-earnings-growth ratio of 1.69 and a beta of 1.16. Ferguson plc has a 12-month low of $146.00 and a 12-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, beating 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 in the previous year, the firm posted $2.32 earnings per share. The business's quarterly revenue was up 4.3% compared to the same quarter last year. On average, analysts forecast that Ferguson plc will post 9.4 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on FERG shares. The Goldman Sachs Group started coverage on Ferguson in a report on Wednesday, June 18th. They set a "buy" rating and a $280.00 price objective for the company. Morgan Stanley restated an "overweight" rating and issued a $220.00 price target (up previously from $195.00) on shares of Ferguson in a research note on Monday, June 9th. Barclays increased their price target on Ferguson from $190.00 to $247.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. UBS Group raised their price objective on Ferguson from $173.00 to $204.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Finally, Truist Financial restated a "buy" rating and issued a $230.00 price objective on shares of Ferguson in a research report on Wednesday, June 4th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $220.64.

View Our Latest Stock Analysis on FERG

Ferguson Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ferguson (NASDAQ:FERG)

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