Wilson Asset Management International PTY Ltd. Acquires 62,436 Shares of Ferguson plc (NASDAQ:FERG)

Wilson Asset Management International PTY Ltd. boosted its holdings in Ferguson plc (NASDAQ:FERG) by 206.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,609 shares of the company’s stock after purchasing an additional 62,436 shares during the quarter. Ferguson makes up approximately 4.2% of Wilson Asset Management International PTY Ltd.’s holdings, making the stock its 13th biggest position. Wilson Asset Management International PTY Ltd.’s holdings in Ferguson were worth $16,074,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FERG. Farther Finance Advisors LLC boosted its stake in Ferguson by 33.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 364 shares of the company’s stock worth $72,000 after purchasing an additional 92 shares during the period. Principal Financial Group Inc. boosted its stake in Ferguson by 32.5% in the 3rd quarter. Principal Financial Group Inc. now owns 32,025 shares of the company’s stock worth $6,359,000 after purchasing an additional 7,862 shares during the period. Legacy Capital Wealth Partners LLC bought a new position in Ferguson in the 3rd quarter worth approximately $213,000. Ashton Thomas Securities LLC bought a new position in Ferguson in the 3rd quarter worth approximately $40,000. Finally, Wolverine Asset Management LLC bought a new position in Ferguson in the 3rd quarter worth approximately $2,482,000. 81.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FERG. UBS Group restated a “neutral” rating and issued a $193.00 price target (down from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Bank of America upgraded Ferguson from an “underperform” rating to a “buy” rating and increased their target price for the company from $185.00 to $225.00 in a research report on Wednesday, January 8th. Robert W. Baird lowered their target price on Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. Zelman & Associates downgraded Ferguson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $219.00 target price on shares of Ferguson in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.73.

Ferguson Stock Performance

FERG stock opened at $157.54 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The business’s fifty day simple moving average is $176.90 and its two-hundred day simple moving average is $191.11. Ferguson plc has a twelve month low of $154.09 and a twelve month high of $225.63. The firm has a market cap of $31.50 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.69 and a beta of 1.28.

Ferguson (NASDAQ:FERG) last released its earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.06). The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.76 billion. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.74 EPS. Analysts predict 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.