Envestnet Asset Management Inc. Buys 131,087 Shares of Ferguson plc (NASDAQ:FERG)

Envestnet Asset Management Inc. lifted its stake in shares of Ferguson plc (NASDAQ:FERGGet Rating) by 326.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 171,207 shares of the company’s stock after purchasing an additional 131,087 shares during the quarter. Envestnet Asset Management Inc. owned 0.08% of Ferguson worth $23,051,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in FERG. UMB Bank N A MO bought a new stake in shares of Ferguson during the 4th quarter valued at approximately $25,000. EverSource Wealth Advisors LLC bought a new stake in shares of Ferguson during the 4th quarter valued at approximately $27,000. Glassman Wealth Services bought a new stake in shares of Ferguson during the 4th quarter valued at approximately $32,000. CWM LLC bought a new stake in shares of Ferguson during the 4th quarter valued at approximately $43,000. Finally, Bessemer Group Inc. grew its holdings in shares of Ferguson by 99.4% during the 4th quarter. Bessemer Group Inc. now owns 614 shares of the company’s stock valued at $110,000 after purchasing an additional 306 shares during the last quarter. 46.84% of the stock is owned by institutional investors.

Ferguson Trading Down 1.2 %

Ferguson stock opened at $123.60 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 0.88 and a debt-to-equity ratio of 0.72. Ferguson plc has a 12-month low of $105.08 and a 12-month high of $183.67. The firm’s fifty day moving average is $114.63 and its 200 day moving average is $131.53.

Ferguson (NASDAQ:FERGGet Rating) last released its earnings results on Tuesday, June 14th. The company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.28. The company had revenue of $7.28 billion for the quarter, compared to analyst estimates of $6.72 billion. As a group, research analysts predict that Ferguson plc will post 9.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FERG shares. Berenberg Bank reduced their target price on shares of Ferguson from £140 ($171.55) to £114 ($139.69) in a report on Friday, June 10th. Royal Bank of Canada reduced their target price on shares of Ferguson from £122 ($149.49) to GBX 9,800 ($120.08) in a report on Wednesday, June 15th. Morgan Stanley reduced their target price on shares of Ferguson from £127.50 ($156.23) to GBX 8,930 ($109.42) in a report on Friday, July 8th. Exane BNP Paribas lowered shares of Ferguson from a “neutral” rating to an “underperform” rating in a report on Friday, May 20th. Finally, BNP Paribas lowered shares of Ferguson to a “sell” rating in a report on Friday, May 20th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $8,535.38.

About Ferguson

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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 distributes pipes, valves, fittings, plumbing supplies, water heaters, kitchen and bathroom fixtures, and appliances; heating, ventilation, air conditioning, and refrigeration products and supplies; and plumbing parts and supplies, fire sprinkler systems, hangers, struts, and fasteners.

Further Reading

Institutional Ownership by Quarter for Ferguson (NASDAQ:FERG)

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