Zimmer Partners LP Purchases Shares of 22,500 Ferguson plc $FERG

Zimmer Partners LP acquired a new stake in Ferguson plc (NASDAQ:FERG) during the first quarter, HoldingsChannel reports. The firm acquired 22,500 shares of the company’s stock, valued at approximately $3,605,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FERG. Rivermont Capital Management LP boosted its holdings in Ferguson by 60.0% in the first quarter. Rivermont Capital Management LP now owns 99,279 shares of the company’s stock valued at $15,907,000 after purchasing an additional 37,227 shares in the last quarter. Empowered Funds LLC lifted its position in Ferguson by 96.1% in the first quarter. Empowered Funds LLC now owns 29,251 shares of the company’s stock valued at $4,687,000 after acquiring an additional 14,338 shares during the last quarter. Ascent Group LLC grew its holdings in shares of Ferguson by 11.7% during the first quarter. Ascent Group LLC now owns 9,454 shares of the company’s stock worth $1,515,000 after purchasing an additional 988 shares during the last quarter. Vancity Investment Management Ltd purchased a new position in shares of Ferguson during the first quarter worth about $8,944,000. Finally, Caxton Associates LLP acquired a new stake in shares of Ferguson during the first quarter worth about $310,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Price Performance

Shares of NASDAQ:FERG opened at $237.40 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The company has a 50-day moving average price of $226.60 and a 200 day moving average price of $195.28. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $243.40. The company has a market cap of $46.81 billion, a P/E ratio of 28.50, a PEG ratio of 1.69 and a beta of 1.15.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Ferguson from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, September 4th. UBS Group increased their price objective on Ferguson from $173.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday, June 4th. Oppenheimer lifted their target price on shares of Ferguson from $189.00 to $235.00 and gave the company an “outperform” rating in a report on Wednesday, June 4th. Royal Bank Of Canada increased their price target on shares of Ferguson from $189.00 to $231.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Finally, Truist Financial restated a “buy” rating and issued a $230.00 price objective on shares of Ferguson in a research note on Wednesday, June 4th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $221.00.

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.