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 stake in Ferguson plc (NASDAQ:FERG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 37,155 shares of the company's stock, valued at approximately $5,953,000. Ferguson comprises 1.7% of Untitled Investments LP's investment portfolio, making the stock its 14th biggest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Ferguson by 14.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,782 shares of the company's stock valued at $928,000 after purchasing an additional 722 shares during the last quarter. Fiera Capital Corp grew its position in shares of Ferguson by 37.5% in the first quarter. Fiera Capital Corp now owns 13,042 shares of the company's stock valued at $2,090,000 after purchasing an additional 3,559 shares during the last quarter. Empower Advisory Group LLC acquired a new position in shares of Ferguson in the first quarter valued at approximately $843,000. Ground Swell Capital LLC acquired a new position in shares of Ferguson in the first quarter valued at approximately $299,000. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of Ferguson by 24.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,393 shares of the company's stock valued at $544,000 after purchasing an additional 657 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company increased their price target on Ferguson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Oppenheimer increased their price target on Ferguson from $189.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. The Goldman Sachs Group assumed coverage on Ferguson in a research report on Wednesday, June 18th. They set a "buy" rating and a $280.00 price target on the stock. Truist Financial reissued a "buy" rating and set a $230.00 price target on shares of Ferguson in a research report on Wednesday, June 4th. Finally, Morgan Stanley reissued an "overweight" rating and set a $220.00 price target (up previously from $195.00) on shares of Ferguson in a research report on Monday, June 9th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Ferguson currently has a consensus rating of "Moderate Buy" and an average target price of $221.00.

Ferguson Trading Up 0.2%

Shares of FERG stock opened at $238.61 on Friday. The stock's fifty day moving average price is $226.21 and its two-hundred day moving average price is $194.74. The company has a market cap of $47.05 billion, a PE ratio of 28.65, a P/E/G ratio of 1.69 and a beta of 1.15. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $243.40. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68.

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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