Untitled Investments LP Acquires Shares of 37,155 Ferguson plc $FERG

Key Points

• Untitled Investments LP has acquired 37,155 shares of Ferguson plc, valued at approximately $5.95 million, making it the 14th largest position in their investment portfolio.
• Institutional investors, including Mirae Asset Global Investments and Fiera Capital Corp, have increased their stakes in Ferguson during the first quarter, highlighting growing interest in the company.
• Wall Street analysts remain optimistic about Ferguson's future, with most giving it a "Buy" or "Overweight" rating and price targets ranging from $220.00 to $280.00.

Untitled Investments LP bought a new position in Ferguson plc (NASDAQ:FERG - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 37,155 shares of the company's stock, valued at approximately $5,953,000. Ferguson makes up about 1.7% of Untitled Investments LP's investment portfolio, making the stock its 14th biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ferguson by 14.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,782 shares of the company's stock worth $928,000 after purchasing an additional 722 shares in the last quarter. Fiera Capital Corp raised its holdings in shares of Ferguson by 37.5% in the 1st quarter. Fiera Capital Corp now owns 13,042 shares of the company's stock worth $2,090,000 after purchasing an additional 3,559 shares in the last quarter. Empower Advisory Group LLC bought a new stake in shares of Ferguson in the 1st quarter worth approximately $843,000. Ground Swell Capital LLC bought a new stake in shares of Ferguson in the 1st quarter worth approximately $299,000. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of Ferguson by 24.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,393 shares of the company's stock worth $544,000 after purchasing an additional 657 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FERG has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Barclays boosted their price target on shares of Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Morgan Stanley restated an "overweight" rating on shares of Ferguson in a report on Wednesday. The Goldman Sachs Group initiated coverage on shares of Ferguson in a report on Wednesday, June 18th. They set a "buy" rating and a $280.00 price target on the stock. Finally, Berenberg Bank restated a "hold" rating and set a $215.00 price target on shares of Ferguson in a report on Thursday, June 5th. 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 MarketBeat.com, Ferguson currently has an average rating of "Moderate Buy" and a consensus target price of $221.00.

Ferguson Stock Down 6.5%

Ferguson stock traded down $14.62 during trading hours on Friday, hitting $211.10. The company had a trading volume of 1,899,412 shares, compared to its average volume of 1,707,467. The firm has a market capitalization of $41.62 billion, a P/E ratio of 25.29, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The firm's fifty day moving average is $226.85 and its 200-day moving average is $196.07. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $243.40.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, September 26th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, September 26th. Ferguson's dividend payout ratio is currently 41.40%.

Ferguson 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.