Ferguson plc (NASDAQ:FERG) Stock Holdings Lifted by Spire Wealth Management

Spire Wealth Management increased its position in shares of Ferguson plc (NASDAQ:FERG) by 20.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,864 shares of the company’s stock after acquiring an additional 319 shares during the quarter. Spire Wealth Management’s holdings in Ferguson were worth $361,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp grew its position in Ferguson by 375.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,289,864 shares of the company’s stock worth $1,218,032,000 after purchasing an additional 4,966,821 shares in the last quarter. Norges Bank purchased a new position in shares of Ferguson during the fourth quarter valued at $988,852,000. Franklin Resources Inc. raised its position in Ferguson by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 2,714,113 shares of the company’s stock valued at $524,014,000 after buying an additional 118,894 shares during the period. Brown Advisory Inc. lifted its stake in Ferguson by 44.9% in the 4th 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 in the last quarter. Finally, Cantillon Capital Management LLC boosted its position in Ferguson by 58.4% during the 4th quarter. Cantillon Capital Management LLC now owns 1,872,863 shares of the company’s stock worth $361,594,000 after acquiring an additional 690,643 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Price Performance

Shares of FERG opened at $205.71 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68. The firm has a market cap of $41.54 billion, a PE ratio of 22.48, a PEG ratio of 6.17 and a beta of 1.21. The firm’s 50 day moving average price is $203.69 and its 200 day moving average price is $207.95. Ferguson plc has a twelve month low of $147.62 and a twelve month high of $225.63.

Ferguson (NASDAQ:FERG) last released its quarterly earnings results 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 net margin of 6.33% and a return on equity of 36.89%. The business had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.32 billion. During the same quarter last year, the firm earned $2.20 EPS. Ferguson’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, research analysts expect that Ferguson plc will post 9.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays reduced their price target on shares of Ferguson from $232.00 to $229.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Royal Bank of Canada cut their target price 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 company a “buy” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $230.00.

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.