Tpg Gp A LLC Has $74.50 Million Stock Position in Ferguson plc $FERG

Key Points

• Tpg Gp A LLC has sold 106,255 shares of Ferguson plc, reducing its holdings by 18.6% to 464,941 shares, which represents 1.5% of Tpg's portfolio.
• Multiple institutional investors, including T. Rowe Price and Wellington Management, significantly increased their stakes in Ferguson, reflecting a total institutional ownership of 81.98%.
• Ferguson reported a quarterly earnings per share of $2.50, surpassing analyst expectations of $2.06, and the company has a consensus rating of "Moderate Buy" with an average price target of $220.64.

TPG GP A LLC lessened its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 18.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 464,941 shares of the company's stock after selling 106,255 shares during the quarter. Ferguson comprises 1.5% of TPG GP A LLC's portfolio, making the stock its 15th biggest holding. TPG GP A LLC owned 0.23% of Ferguson worth $74,497,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FERG. Vanguard Group Inc. increased its stake in Ferguson by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 19,168,743 shares of the company's stock worth $3,071,408,000 after acquiring an additional 806,718 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of 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 purchasing an additional 1,506,024 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Ferguson by 13.8% in the 1st quarter. Invesco Ltd. now owns 6,818,800 shares of the company's stock worth $1,092,576,000 after buying an additional 827,355 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Ferguson by 1.3% in the 4th quarter. Janus Henderson Group PLC now owns 4,935,419 shares of the company's stock worth $856,746,000 after buying an additional 62,887 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted 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 buying an additional 1,755,464 shares during the period. Institutional investors own 81.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FERG. The Goldman Sachs Group started coverage on Ferguson in a research report on Wednesday, June 18th. They set a "buy" rating and a $280.00 target price on the stock. Truist Financial reiterated a "buy" rating and issued a $230.00 target price on shares of Ferguson in a report on Wednesday, June 4th. Morgan Stanley reissued an "overweight" rating and set a $220.00 target price (up from $195.00) on shares of Ferguson in a research note on Monday, June 9th. Oppenheimer increased their target price on Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Finally, UBS Group upped their price target on Ferguson from $173.00 to $204.00 and gave the stock a "neutral" rating in a research note 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's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $220.64.

Ferguson Stock Up 0.1%

Shares of Ferguson stock traded up $0.22 during midday trading on Wednesday, hitting $229.91. The company's stock had a trading volume of 1,141,630 shares, compared to its average volume of 1,679,762. The firm has a market capitalization of $45.33 billion, a P/E ratio of 27.60, 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 quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The stock has a 50-day simple moving average of $225.40 and a 200-day simple moving average of $193.92.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its quarterly earnings data 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 return on equity of 34.63% and a net margin of 5.68%.During the same period last year, the firm earned $2.32 EPS. The firm's quarterly revenue was up 4.3% on a year-over-year basis. As a group, sell-side 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.