OMERS ADMINISTRATION Corp Buys 1,844 Shares of Ferguson plc $FERG

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Ferguson plc by 13.1% in the first quarter, acquiring an additional 1,844 shares, bringing its total to 15,937 shares valued at approximately $2.55 million.
• Significant institutional interest was noted, with firms like T. Rowe Price and Wellington Management Group substantially increasing their holdings, contributing to 81.98% institutional ownership of the stock.
• Ferguson plc's stock has a current market capitalization of $45.58 billion, with analysts giving it a consensus rating of "Moderate Buy" and an average price target of $220.64.

OMERS ADMINISTRATION Corp lifted its stake in Ferguson plc (NASDAQ:FERG - Free Report) by 13.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,937 shares of the company's stock after acquiring an additional 1,844 shares during the period. OMERS ADMINISTRATION Corp's holdings in Ferguson were worth $2,554,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in FERG. T. Rowe Price Investment Management Inc. lifted its holdings in Ferguson by 101.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,165,873 shares of the company's stock valued at $667,498,000 after acquiring an additional 2,094,029 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 worth $713,740,000 after purchasing an additional 1,755,464 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Ferguson by 24.5% during 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 purchasing an additional 1,506,024 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in Ferguson by 94.6% during the first quarter. Vontobel Holding Ltd. now owns 2,402,527 shares of the company's stock worth $384,957,000 after buying an additional 1,167,751 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Ferguson by 769.5% in the first quarter. Wellington Management Group LLP now owns 1,266,954 shares of the company's stock worth $203,004,000 after buying an additional 1,121,249 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Oppenheimer increased their price objective on Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Royal Bank Of Canada lifted their target price on shares of Ferguson from $189.00 to $231.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Barclays upped their price target on shares of Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Berenberg Bank reaffirmed a "hold" rating and issued a $215.00 price objective on shares of Ferguson in a research note on Thursday, June 5th. Finally, Truist Financial reissued a "buy" rating and set a $230.00 target price on shares of Ferguson in a research note on Wednesday, June 4th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Ferguson currently has an average rating of "Moderate Buy" and an average target price of $220.64.

Ferguson Stock Down 0.1%

FERG stock traded down $0.21 during trading hours on Wednesday, hitting $229.48. The company's stock had a trading volume of 713,305 shares, compared to its average volume of 1,677,095. The stock has a 50 day moving average price of $225.19 and a two-hundred day moving average price of $193.67. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $238.16. The company has a market capitalization of $45.25 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. 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 (NASDAQ:FERG - Get Free Report) last released 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 return on equity of 34.63% and a net margin of 5.68%.The business's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.32 earnings per share. On average, equities research analysts expect that Ferguson plc will post 9.4 earnings per share for the current year.

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.