Nissay Asset Management Corp Japan ADV Trims Stock Position in Ferguson plc $FERG

Key Points

• Nissay Asset Management Corp Japan ADV significantly reduced its stake in Ferguson plc by 79.6%, owning 24,701 shares after selling 96,661 shares in the first quarter, valued at approximately $3.96 million.
• Several institutional investors, including Vanguard and Bank of New York Mellon, increased their positions in Ferguson, contributing to a strong majority of 81.98% of the stock being held by hedge funds and other institutions.
• Wall Street analysts have raised their price targets for Ferguson, with UBS Group setting a target of $204.00 and Barclays raising it to $247.00, reflecting positive sentiment towards the stock.

Nissay Asset Management Corp Japan ADV cut its stake in Ferguson plc (NASDAQ:FERG - Free Report) by 79.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,701 shares of the company's stock after selling 96,661 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Ferguson were worth $3,958,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Ferguson by 4.4% in the first quarter. Vanguard Group Inc. now owns 19,168,743 shares of the company's stock valued at $3,071,408,000 after acquiring an additional 806,718 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Ferguson by 24.5% in the first 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 last quarter. Invesco Ltd. lifted its position in Ferguson by 13.8% in the first 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 last quarter. Janus Henderson Group PLC lifted its position in Ferguson by 1.3% in the fourth 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 last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Ferguson by 65.0% in the first 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 last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Ferguson from $173.00 to $204.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Barclays upped their target price on shares of Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a report 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. Truist Financial reaffirmed a "buy" rating and issued a $230.00 target price on shares of Ferguson in a report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of Ferguson from $220.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Ferguson has an average rating of "Moderate Buy" and a consensus target price of $221.00.

Ferguson Trading Up 0.2%

Shares of Ferguson stock opened at $238.61 on Monday. The firm has a market cap of $47.05 billion, a price-to-earnings ratio of 28.65, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. Ferguson plc has a 52-week low of $146.00 and a 52-week high of $243.40. The company's 50-day simple moving average is $226.21 and its 200-day simple moving average is $194.85. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83.

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.

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