Waverton Investment Management Ltd Raises Stock Holdings in Ferguson plc (NASDAQ:FERG)

Waverton Investment Management Ltd raised its position in shares of Ferguson plc (NASDAQ:FERG) by 61.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 812,904 shares of the company’s stock after buying an additional 308,138 shares during the period. Ferguson comprises about 3.0% of Waverton Investment Management Ltd’s investment portfolio, making the stock its 17th biggest holding. Waverton Investment Management Ltd owned approximately 0.40% of Ferguson worth $157,293,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Ferguson in the fourth quarter worth about $988,852,000. Bank of New York Mellon Corp increased its stake in shares of Ferguson by 375.4% during the second quarter. Bank of New York Mellon Corp now owns 6,289,864 shares of the company’s stock valued at $1,218,032,000 after buying an additional 4,966,821 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Ferguson by 589.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,619,637 shares of the company’s stock valued at $353,778,000 after buying an additional 1,384,570 shares during the period. Brown Advisory Inc. lifted its stake in Ferguson by 44.9% in the fourth quarter. Brown Advisory Inc. now owns 2,371,704 shares of the company’s stock worth $457,905,000 after acquiring an additional 735,270 shares during the period. Finally, Capital World Investors bought a new stake in Ferguson in the first quarter valued at $104,723,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Price Performance

Shares of FERG opened at $193.13 on Friday. Ferguson plc has a fifty-two week low of $147.62 and a fifty-two week high of $225.63. The firm’s 50-day simple moving average is $203.99 and its two-hundred day simple moving average is $207.79. The stock has a market cap of $39.00 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 5.87 and a beta of 1.21. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings data on Tuesday, June 4th. The company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.05. Ferguson had a return on equity of 36.89% and a net margin of 6.33%. The company had revenue of $7.31 billion during the quarter, compared to analyst estimates of $7.32 billion. During the same quarter last year, the company earned $2.20 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts anticipate that Ferguson plc will post 9.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FERG shares. Royal Bank of Canada cut their target price on shares of Ferguson from $217.00 to $211.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 5th. Jefferies Financial Group upped their target price on Ferguson from $238.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Barclays lowered their target price on Ferguson from $232.00 to $229.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.00.

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.