Headlands Technologies LLC Invests $490,000 in Ferguson plc (NASDAQ:FERG)

Headlands Technologies LLC purchased a new stake in shares of Ferguson plc (NASDAQ:FERG) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,529 shares of the company’s stock, valued at approximately $490,000.

Other large investors have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. increased its stake in Ferguson by 9.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 15,796 shares of the company’s stock valued at $3,050,000 after purchasing an additional 1,379 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Ferguson by 3.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 95,917 shares of the company’s stock worth $17,654,000 after acquiring an additional 3,097 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Ferguson by 4.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 109,790 shares of the company’s stock valued at $21,198,000 after acquiring an additional 4,959 shares in the last quarter. American National Bank purchased a new stake in Ferguson during the 4th quarter valued at $142,000. Finally, Trillium Asset Management LLC increased its holdings in shares of Ferguson by 165.1% in the 4th quarter. Trillium Asset Management LLC now owns 125,841 shares of the company’s stock worth $24,247,000 after purchasing an additional 78,380 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Trading Up 0.8 %

Shares of NASDAQ:FERG opened at $190.18 on Friday. The stock’s 50-day simple moving average is $203.79 and its two-hundred day simple moving average is $207.28. The stock has a market capitalization of $38.40 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 5.75 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 company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68.

Ferguson announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, June 4th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 2.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Barclays lowered their price target 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 lowered their target price on shares of Ferguson from $217.00 to $211.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 5th. Finally, Jefferies Financial Group boosted their price objective 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 issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.