Perbak Capital Partners LLP Acquires Shares of 1,739 Ferguson plc $FERG

Key Points

• Perbak Capital Partners LLP acquired 1,739 shares of Ferguson plc, valued at approximately $279,000, indicating institutional interest in the company.
• Several investment firms, including Vanguard Group Inc. and Bank of New York Mellon Corp, have significantly increased their holdings in Ferguson, demonstrating confidence in the company's performance.
• Ferguson plc's stock received positive ratings from multiple brokerages, with price targets generally raised, reflecting optimism among analysts about the company's future earnings potential.

Perbak Capital Partners LLP acquired a new stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,739 shares of the company's stock, valued at approximately $279,000.

Several other institutional investors have also recently made changes to their positions in FERG. T. Rowe Price Investment Management Inc. lifted its holdings in shares of 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 worth $667,498,000 after acquiring an additional 2,094,029 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Ferguson by 65.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,454,467 shares of the company's stock valued at $713,740,000 after buying an additional 1,755,464 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in 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 valued at $1,227,410,000 after buying an additional 1,506,024 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in Ferguson by 94.6% during the 1st quarter. Vontobel Holding Ltd. now owns 2,402,527 shares of the company's stock valued at $384,957,000 after buying an additional 1,167,751 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Ferguson by 769.5% during the 1st quarter. Wellington Management Group LLP now owns 1,266,954 shares of the company's stock valued at $203,004,000 after buying an additional 1,121,249 shares in the last quarter. Institutional investors own 81.98% of the company's stock.

Ferguson Stock Up 0.2%

Shares of Ferguson stock traded up $0.44 on Friday, reaching $238.61. The stock had a trading volume of 1,861,085 shares, compared to its average volume of 1,685,823. The company has a 50 day moving average price of $226.21 and a 200 day moving average price of $194.65. 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 plc has a 1 year low of $146.00 and a 1 year high of $243.40. The stock has a market capitalization of $47.05 billion, a P/E ratio of 28.65, a P/E/G ratio of 1.69 and a beta of 1.15.

Ferguson (NASDAQ:FERG - Get Free Report) last released its earnings results on Tuesday, June 3rd. The company reported $2.50 EPS for the quarter, topping analysts' consensus estimates of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The firm's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.32 earnings per share. As a group, equities research analysts forecast that Ferguson plc will post 9.4 EPS for the current year.

Wall Street Analyst Weigh In

FERG has been the subject of a number of research analyst reports. Truist Financial reiterated a "buy" rating and set a $230.00 price objective on shares of Ferguson in a report on Wednesday, June 4th. Oppenheimer lifted their price objective 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. lifted their price objective on shares of Ferguson from $220.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday. Wells Fargo & Company raised their target price on shares of Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Barclays raised their target price 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. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $221.00.

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.