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

Lazard Asset Management LLC grew its holdings in shares of Ferguson plc (NYSE:FERG) by 109.9% during the first quarter, Holdings Channel.com reports. The institutional investor 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 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Ferguson by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 19,418,334 shares of the company’s stock worth $4,323,104,000 after buying an additional 102,850 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Ferguson by 150.8% during the fourth quarter. Wellington Management Group LLP now owns 9,366,465 shares of the company’s stock valued at $2,085,256,000 after buying an additional 5,631,554 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Ferguson by 7.8% during the fourth quarter. Janus Henderson Group PLC now owns 5,981,791 shares of the company’s stock valued at $1,331,621,000 after buying an additional 434,650 shares during the last quarter. State Street Corp increased its position in shares of Ferguson by 1.8% during the fourth quarter. State Street Corp now owns 4,516,764 shares of the company’s stock worth $1,005,567,000 after acquiring an additional 79,296 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Ferguson by 0.6% during the fourth quarter. Franklin Resources Inc. now owns 4,393,603 shares of the company’s stock worth $977,959,000 after acquiring an additional 25,785 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Performance

NYSE FERG opened at $234.49 on Friday. The company has a fifty day moving average price of $230.62 and a 200-day moving average price of $240.52. 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 debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96. Ferguson plc has a 1 year low of $207.64 and a 1 year high of $271.64.

Ferguson (NYSE:FERG) last released its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share 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 company had revenue of $7.47 billion for the quarter. During the same period in the previous year, the business earned $2.50 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, equities research analysts predict that Ferguson plc will post 11.25 EPS for the current fiscal year.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FERG shares. Citigroup restated a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Royal Bank Of Canada lifted their price target on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Wells Fargo & Company boosted their price objective on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Zelman & Associates raised Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price objective for the company in a research note on Friday, July 17th. Finally, The Goldman Sachs Group lowered 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 issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.