Janus Henderson Group PLC Raises Stake in Ferguson plc $FERG

Janus Henderson Group PLC grew its stake in Ferguson plc (NYSE:FERG) by 2.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,107,108 shares of the company’s stock after acquiring an additional 125,317 shares during the quarter. Ferguson comprises approximately 0.7% of Janus Henderson Group PLC’s investment portfolio, making the stock its 21st biggest position. Janus Henderson Group PLC owned about 3.15% of Ferguson worth $1,424,075,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Raiffeisen Bank International AG increased its stake in Ferguson by 350,745.0% during the fourth quarter. Raiffeisen Bank International AG now owns 522,759 shares of the company’s stock worth $116,382,000 after acquiring an additional 522,610 shares during the last quarter. Marsico Capital Management LLC purchased a new position in shares of Ferguson during the 4th quarter worth $11,017,000. Lmcg Investments LLC acquired a new stake in shares of Ferguson during the 1st quarter worth about $1,806,000. V Square Quantitative Management LLC acquired a new stake in shares of Ferguson during the 4th quarter worth about $891,000. Finally, D.A. Davidson & CO. raised its holdings in Ferguson by 89.6% in the 4th quarter. D.A. Davidson & CO. now owns 30,983 shares of the company’s stock valued at $6,898,000 after buying an additional 14,644 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

NYSE:FERG opened at $226.38 on Thursday. The company has a fifty day simple moving average of $230.34 and a two-hundred day simple moving average of $240.64. The company has a market cap of $43.90 billion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 1.64 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 52 week low of $207.64 and a 52 week high of $271.64.

Ferguson (NYSE:FERG) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.14. The business had revenue of $7.47 billion for the quarter. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.50 earnings per share. As a group, equities analysts anticipate that Ferguson plc will post 11.25 earnings per share for the current fiscal year.

Ferguson announced that its board has initiated a share repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have commented on FERG shares. Barclays upped their target price on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Wells Fargo & Company boosted their price target on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Finally, The Goldman Sachs Group downgraded shares of Ferguson from a “buy” rating to a “neutral” rating and dropped their target price for the company from $315.00 to $265.00 in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Ferguson currently has a consensus rating of “Moderate Buy” and an average target price of $277.21.

Ferguson Company Profile

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.