Southpoint Capital Advisors LP Grows Stock Holdings in Ferguson plc $FERG

Key Points

• Southpoint Capital Advisors LP increased its stake in Ferguson plc by 100%, now owning 600,000 shares valued at approximately $96.1 million, making it the firm's 22nd largest holding.
• Ferguson reported a better-than-expected earnings of $2.50 per share in its latest quarter, surpassing analysts' estimates and reflecting a 4.3% revenue increase year-over-year.
• Analysts have adjusted their price targets for Ferguson, with a consensus price target of $220.64, reflecting a generally positive outlook with ten analysts recommending a Buy rating.

Southpoint Capital Advisors LP boosted its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 100.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 600,000 shares of the company's stock after purchasing an additional 300,000 shares during the period. Ferguson comprises 2.3% of Southpoint Capital Advisors LP's portfolio, making the stock its 22nd largest holding. Southpoint Capital Advisors LP owned about 0.30% of Ferguson worth $96,138,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Grove Bank & Trust raised its stake in Ferguson by 247.4% during 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 during the last quarter. Whipplewood Advisors LLC grew its holdings in shares of Ferguson by 166.7% in the first quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock worth $33,000 after acquiring an additional 130 shares during the period. TD Private Client Wealth LLC increased its position in Ferguson by 56.5% during 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 during the last quarter. Brooklyn Investment Group increased its position in Ferguson by 103.6% during the first quarter. Brooklyn Investment Group now owns 226 shares of the company's stock valued at $36,000 after acquiring an additional 115 shares during the last quarter. Finally, SVB Wealth LLC bought a new position in Ferguson in the first quarter valued at about $43,000. Institutional investors own 81.98% of the company's stock.

Ferguson Stock Performance

FERG opened at $231.13 on Tuesday. The firm has a market cap of $45.58 billion, a P/E ratio of 27.75, a PEG ratio of 1.69 and a beta of 1.15. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $238.16. The company has a 50 day simple moving average of $224.98 and a two-hundred day simple moving average of $193.41. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 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 prior year, the business posted $2.32 EPS. The firm's revenue was up 4.3% compared to the same quarter last year. Equities analysts forecast that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FERG shares. UBS Group boosted their price target on Ferguson from $173.00 to $204.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Truist Financial reissued a "buy" rating and issued a $230.00 price objective on shares of Ferguson in a report on Wednesday, June 4th. Morgan Stanley restated an "overweight" rating and set a $220.00 target price (up from $195.00) on shares of Ferguson in a research report on Monday, June 9th. 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. Finally, JPMorgan Chase & Co. lifted their price target on shares of Ferguson from $200.00 to $220.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Ferguson presently has an average rating of "Moderate Buy" and a consensus price target of $220.64.

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.

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