Neuberger Berman Group LLC Lowers Position in Ferguson plc (NASDAQ:FERG)

Neuberger Berman Group LLC reduced its stake in shares of Ferguson plc (NASDAQ:FERGGet Rating) by 20.0% during the first quarter, Holdings Channel reports. The institutional investor owned 639,396 shares of the company’s stock after selling 160,182 shares during the quarter. Neuberger Berman Group LLC’s holdings in Ferguson were worth $87,236,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Ferguson by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 9,046,579 shares of the company’s stock valued at $1,213,327,000 after buying an additional 191,587 shares in the last quarter. Invesco Ltd. bought a new position in shares of Ferguson during the first quarter valued at approximately $651,809,000. Norges Bank purchased a new stake in Ferguson during the fourth quarter valued at approximately $722,808,000. Royal London Asset Management Ltd. purchased a new stake in Ferguson during the first quarter valued at approximately $391,174,000. Finally, Pendal Group Ltd lifted its position in Ferguson by 32.8% during the first quarter. Pendal Group Ltd now owns 2,591,527 shares of the company’s stock valued at $353,417,000 after acquiring an additional 639,618 shares during the last quarter. 43.10% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Trading Down 1.5 %

FERG stock opened at $111.93 on Friday. The firm has a 50 day simple moving average of $119.06 and a 200-day simple moving average of $123.53. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.56 and a quick ratio of 0.88. Ferguson plc has a twelve month low of $105.08 and a twelve month high of $183.67.

Analyst Ratings Changes

A number of analysts have recently weighed in on FERG shares. UBS Group cut their price objective on shares of Ferguson from £136.50 ($164.93) to £130 ($157.08) in a research note on Wednesday, June 15th. Royal Bank of Canada decreased their price target on shares of Ferguson from £122 ($147.41) to GBX 9,800 ($118.41) in a research note on Wednesday, June 15th. JPMorgan Chase & Co. initiated coverage on shares of Ferguson in a research note on Tuesday, September 13th. They set an “overweight” rating on the stock. Morgan Stanley reduced their price target on shares of Ferguson from £127.50 ($154.06) to GBX 8,930 ($107.90) in a research note on Friday, July 8th. Finally, Berenberg Bank dropped their price objective on shares of Ferguson from £140 ($169.16) to £114 ($137.75) in a report on Friday, June 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8,535.38.

Ferguson Company Profile

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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.

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Institutional Ownership by Quarter for Ferguson (NASDAQ:FERG)

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