Optiver Holding B.V. Buys 16,695 Shares of Ferguson plc $FERG

Key Points

• Optiver Holding B.V. increased its Ferguson stake by 1,332.4% in the first quarter, purchasing 16,695 additional shares and bringing its holdings to 17,948 shares valued at approximately $4.19 million.
• Institutional investors own 81.98% of Ferguson, with major holders including Vanguard, Wellington Management, Janus Henderson, State Street and Franklin Resources.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $277.21, while Ferguson recently reported adjusted earnings of $2.28 per share and authorized a $2 billion share repurchase program.

Optiver Holding B.V. raised its stake in Ferguson plc (NYSE:FERG - Free Report) by 1,332.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,948 shares of the company's stock after purchasing an additional 16,695 shares during the period. Optiver Holding B.V.'s holdings in Ferguson were worth $4,187,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FERG. Vanguard Group Inc. grew its stake in Ferguson by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 19,418,334 shares of the company's stock valued at $4,323,104,000 after buying an additional 102,850 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Ferguson by 150.8% during the fourth quarter. Wellington Management Group LLP now owns 9,366,465 shares of the company's stock worth $2,085,256,000 after acquiring an additional 5,631,554 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Ferguson by 2.1% during the first quarter. Janus Henderson Group PLC now owns 6,107,108 shares of the company's stock worth $1,424,075,000 after acquiring an additional 125,317 shares during the period. State Street Corp boosted its holdings in shares of Ferguson by 1.8% during the fourth quarter. State Street Corp now owns 4,516,764 shares of the company's stock worth $1,005,567,000 after acquiring an additional 79,296 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Ferguson by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 4,393,603 shares of the company's stock valued at $977,959,000 after purchasing an additional 25,785 shares during the last quarter. 81.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FERG shares. The Goldman Sachs Group cut Ferguson from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $315.00 to $265.00 in a report on Monday, July 6th. Royal Bank Of Canada boosted their price target on Ferguson from $271.00 to $281.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. Zelman & Associates upgraded Ferguson from a "hold" rating to an "outperform" rating and set a $285.00 price objective on the stock in a research report on Friday, July 17th. Citigroup reiterated a "neutral" rating on shares of Ferguson in a research report on Wednesday, May 6th. Finally, Barclays lifted their target price on Ferguson from $295.00 to $297.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $277.21.

Ferguson Price Performance

Shares of NYSE FERG opened at $234.49 on Friday. The stock has a market capitalization of $45.48 billion, a PE ratio of 27.27, a P/E/G ratio of 1.66 and a beta of 1.13. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96. The business has a fifty day moving average price of $230.62 and a two-hundred day moving average price of $240.52. Ferguson plc has a fifty-two week low of $207.64 and a fifty-two week high of $271.64.

Ferguson (NYSE:FERG - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, beating analysts' consensus estimates of $2.14 by $0.14. The firm had revenue of $7.47 billion during the quarter. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The business's revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.50 earnings per share. As a group, equities analysts predict that Ferguson plc will post 11.25 earnings per share for the current fiscal year.

Ferguson announced that its board has authorized a stock buyback program on Tuesday, May 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

About Ferguson

Ferguson NYSE: FERG is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.