Lazard Asset Management LLC Has $4.06 Million Position in Ferguson plc $FERG

Lazard Asset Management LLC lifted its stake in shares of Ferguson plc (NYSE:FERG) by 109.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,399 shares of the company’s stock after purchasing an additional 9,108 shares during the quarter. Lazard Asset Management LLC’s holdings in Ferguson were worth $4,058,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Basepoint Wealth LLC acquired a new position in shares of Ferguson during the fourth quarter worth $26,000. Leonteq Securities AG acquired a new stake in Ferguson in the fourth quarter valued at $26,000. Zions Bancorporation National Association UT increased its holdings in Ferguson by 123.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after purchasing an additional 79 shares during the period. Johnson Financial Group Inc. acquired a new stake in Ferguson in the third quarter valued at $34,000. Finally, Cornerstone Planning Group LLC raised its position in Ferguson by 53.9% during the 4th quarter. Cornerstone Planning Group LLC now owns 197 shares of the company’s stock worth $44,000 after purchasing an additional 69 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Price Performance

FERG stock opened at $234.49 on Friday. The firm has a market cap of $45.48 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 1.60 and a beta of 1.13. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68. Ferguson plc has a 12-month low of $207.64 and a 12-month high of $271.64. The company’s fifty day simple moving average is $230.62 and its 200 day simple moving average is $240.52.

Ferguson (NYSE:FERG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.14. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The business had revenue of $7.47 billion for the quarter. During the same period last year, the company posted $2.50 EPS. The business’s revenue was up 3.6% compared to the same quarter last year. On average, analysts expect that Ferguson plc will post 11.25 earnings per share for the current year.

Ferguson announced that its Board of Directors has approved a stock repurchase plan on Tuesday, May 5th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

FERG has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. The Goldman Sachs Group downgraded Ferguson from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $315.00 to $265.00 in a research report on Monday, July 6th. Zelman & Associates raised Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price objective on the stock in a research note on Friday, July 17th. Barclays lifted their price objective on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Weiss Ratings upgraded Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $277.21.

About Ferguson

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.