Vident Advisory LLC Acquires 11,922 Shares of Ferguson plc $FERG

Key Points

• Vident Advisory LLC increased its stake in Ferguson plc by 13.9%, now holding 97,854 shares valued at approximately $15.68 million.
• Several other institutional investors, including Vanguard Group and Bank of New York Mellon, also significantly increased their holdings in Ferguson during the first quarter.
• Ferguson reported earnings of $2.50 per share last quarter, exceeding analyst expectations, and has a current consensus rating of "Moderate Buy" with an average price target of $220.64.

Vident Advisory LLC raised its position in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 13.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,854 shares of the company's stock after acquiring an additional 11,922 shares during the period. Vident Advisory LLC's holdings in Ferguson were worth $15,679,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

FERG has been the subject of a number of research analyst reports. Morgan Stanley restated an "overweight" rating and set a $220.00 price objective (up previously from $195.00) on shares of Ferguson in a report on Monday, June 9th. Barclays boosted their price target on Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Oppenheimer boosted their price target on Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. JPMorgan Chase & Co. boosted their price target on Ferguson from $200.00 to $220.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Finally, The Goldman Sachs Group initiated coverage on Ferguson in a research note on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price target for the company. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $220.64.

Ferguson Stock Down 0.7%

Shares of FERG stock traded down $1.57 on Tuesday, reaching $229.58. 1,729,603 shares of the company were exchanged, compared to its average volume of 1,683,001. The company has a market cap of $45.27 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 1.69 and a beta of 1.15. The company has a 50-day moving average of $224.98 and a 200-day 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 plc has a one year low of $146.00 and a one year high of $238.16.

Ferguson (NASDAQ:FERG - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share (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 was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.32 EPS. Analysts anticipate that Ferguson plc will post 9.4 earnings per share for the current year.

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.