Ferguson plc (NASDAQ:FERG) Shares Purchased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. raised its position in Ferguson plc (NASDAQ:FERG) by 46.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,466 shares of the company’s stock after buying an additional 463 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Ferguson were worth $284,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Richardson Financial Services Inc. purchased a new stake in Ferguson in the 4th quarter valued at $25,000. EdgeRock Capital LLC acquired a new stake in shares of Ferguson during the second quarter worth about $32,000. MCF Advisors LLC acquired a new stake in shares of Ferguson during the first quarter worth about $47,000. Brown Brothers Harriman & Co. increased its position in Ferguson by 538.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 402 shares of the company’s stock valued at $78,000 after acquiring an additional 339 shares during the period. Finally, Versant Capital Management Inc raised its stake in Ferguson by 2,462.5% during the 2nd quarter. Versant Capital Management Inc now owns 410 shares of the company’s stock valued at $79,000 after acquiring an additional 394 shares during the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Price Performance

Ferguson stock opened at $193.07 on Monday. The company has a market cap of $38.99 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 5.84 and a beta of 1.21. Ferguson plc has a one year low of $147.62 and a one year high of $225.63. The business has a fifty day moving average of $203.83 and a two-hundred day moving average of $207.10. 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 declared that its Board of Directors has initiated a share buyback plan on Tuesday, June 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

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