Envestnet Asset Management Inc. Has $187.42 Million Holdings in Ferguson plc (NASDAQ:FERG)

Envestnet Asset Management Inc. boosted its stake in shares of Ferguson plc (NASDAQ:FERG) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 967,849 shares of the company’s stock after purchasing an additional 18,504 shares during the quarter. Envestnet Asset Management Inc. owned 0.48% of Ferguson worth $187,424,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of 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 acquiring an additional 4,966,821 shares during the period. Norges Bank bought a new position in shares of Ferguson during the 4th quarter worth about $988,852,000. Franklin Resources Inc. lifted its holdings in shares of Ferguson by 4.6% during the 4th quarter. Franklin Resources Inc. now owns 2,714,113 shares of the company’s stock worth $524,014,000 after acquiring an additional 118,894 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Ferguson by 589.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,619,637 shares of the company’s stock worth $353,778,000 after acquiring an additional 1,384,570 shares during the period. Finally, First Pacific Advisors LP lifted its holdings in shares of Ferguson by 1.4% during the 2nd quarter. First Pacific Advisors LP now owns 1,104,289 shares of the company’s stock worth $213,846,000 after acquiring an additional 15,700 shares during the period. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on FERG. Barclays reduced their price objective on shares of Ferguson from $232.00 to $229.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Royal Bank of Canada reduced their price objective on shares of Ferguson from $217.00 to $211.00 and set an “outperform” rating for the company in a report on Wednesday, June 5th. Finally, Jefferies Financial Group raised their price objective on shares of Ferguson from $238.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $230.00.

Ferguson Trading Up 1.5 %

Shares of Ferguson stock opened at $193.07 on Monday. The stock has a market capitalization of $38.99 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 5.84 and a beta of 1.21. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The company has a 50-day simple moving average of $203.83 and a 200 day simple moving average of $207.10. Ferguson plc has a 12-month low of $147.62 and a 12-month high of $225.63.

Ferguson announced that its Board of Directors has initiated a share repurchase 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 a sign that the company’s leadership believes its stock is undervalued.

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.