Vident Advisory LLC Grows Holdings in 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 boosted its stake in Ferguson plc (NASDAQ:FERG - Free Report) by 13.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,854 shares of the company's stock after acquiring an additional 11,922 shares during the quarter. Vident Advisory LLC's holdings in Ferguson were worth $15,679,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. US Bancorp DE boosted its holdings in Ferguson by 0.8% in the 1st quarter. US Bancorp DE now owns 7,394 shares of the company's stock valued at $1,185,000 after purchasing an additional 59 shares during the period. Compound Planning Inc. lifted its holdings in shares of Ferguson by 4.6% during the 1st quarter. Compound Planning Inc. now owns 1,386 shares of the company's stock worth $222,000 after acquiring an additional 61 shares during the period. Mission Wealth Management LP lifted its holdings in shares of Ferguson by 2.2% during the 1st quarter. Mission Wealth Management LP now owns 3,050 shares of the company's stock worth $489,000 after acquiring an additional 67 shares during the period. James Hambro & Partners LLP lifted its stake in Ferguson by 1.1% in the 1st quarter. James Hambro & Partners LLP now owns 6,311 shares of the company's stock valued at $1,011,000 after purchasing an additional 70 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its stake in Ferguson by 6.5% in the 4th quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company's stock valued at $211,000 after purchasing an additional 74 shares during the last quarter. 81.98% of the stock is owned by institutional investors.

Ferguson Price Performance

NASDAQ:FERG traded up $0.05 during mid-day trading on Wednesday, hitting $229.74. 569,480 shares of the stock traded hands, compared to its average volume of 1,676,231. The business's 50-day moving average price is $225.19 and its 200 day moving average price is $193.67. The company has a market cap of $45.30 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. Ferguson plc has a 12-month low of $146.00 and a 12-month 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.

Ferguson (NASDAQ:FERG - Get Free Report) last issued 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%. The company's quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.32 earnings per share. On average, analysts expect that Ferguson plc will post 9.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FERG shares. Oppenheimer raised their price target on shares of Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Barclays increased their price objective on shares of Ferguson from $190.00 to $247.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Truist Financial restated a "buy" rating and issued a $230.00 price target on shares of Ferguson in a report on Wednesday, June 4th. Berenberg Bank restated a "hold" rating and issued a $215.00 price target on shares of Ferguson in a report on Thursday, June 5th. Finally, Royal Bank Of Canada lifted their price objective on shares of Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Ten equities research 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 currently has an average rating of "Moderate Buy" and a consensus price target of $220.64.

About Ferguson

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.