Ferguson plc (NASDAQ:FERG) Shares Bought by GHP Investment Advisors Inc.

GHP Investment Advisors Inc. raised its holdings in Ferguson plc (NASDAQ:FERG) by 6.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,033 shares of the company’s stock after buying an additional 2,112 shares during the period. GHP Investment Advisors Inc.’s holdings in Ferguson were worth $6,978,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BayBridge Capital Group LLC grew its holdings in Ferguson by 2.0% during the 1st quarter. BayBridge Capital Group LLC now owns 2,373 shares of the company’s stock worth $494,000 after acquiring an additional 47 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in shares of Ferguson by 3.0% during the first quarter. Verdence Capital Advisors LLC now owns 1,663 shares of the company’s stock worth $363,000 after purchasing an additional 48 shares in the last quarter. OneAscent Financial Services LLC increased its holdings in Ferguson by 1.9% in the first quarter. OneAscent Financial Services LLC now owns 2,584 shares of the company’s stock valued at $565,000 after buying an additional 49 shares during the last quarter. Financial Advocates Investment Management raised its stake in Ferguson by 2.7% in the fourth quarter. Financial Advocates Investment Management now owns 1,995 shares of the company’s stock valued at $385,000 after buying an additional 52 shares in the last quarter. Finally, Perigon Wealth Management LLC lifted its holdings in Ferguson by 3.6% during the 1st quarter. Perigon Wealth Management LLC now owns 1,568 shares of the company’s stock worth $342,000 after buying an additional 55 shares during the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FERG has been the topic of several research analyst reports. Royal Bank of Canada cut their target price on Ferguson from $217.00 to $211.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 5th. Barclays cut their target price on Ferguson from $232.00 to $229.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Finally, Jefferies Financial Group upped their target price on Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $230.00.

Ferguson Stock Performance

NASDAQ FERG opened at $190.18 on Friday. The firm has a market cap of $38.40 billion, a P/E ratio of 19.89, a P/E/G ratio of 5.79 and a beta of 1.21. Ferguson plc has a 52-week low of $147.62 and a 52-week high of $225.63. The business’s 50-day moving average price is $203.79 and its 200 day moving average price is $207.28. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64.

Ferguson declared that its Board of Directors has approved a share buyback program on Tuesday, June 4th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 2.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

About Ferguson

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.