Ferguson plc (NASDAQ:FERG) Shares Sold by Achmea Investment Management B.V.

Achmea Investment Management B.V. reduced its position in Ferguson plc (NASDAQ:FERG) by 5.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,208 shares of the company’s stock after selling 4,538 shares during the quarter. Achmea Investment Management B.V.’s holdings in Ferguson were worth $16,114,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Richardson Financial Services Inc. bought a new stake in shares of Ferguson in the 4th quarter valued at approximately $25,000. EdgeRock Capital LLC acquired a new stake in Ferguson during the second quarter worth about $32,000. MCF Advisors LLC bought a new position in Ferguson in the first quarter worth about $47,000. Brown Brothers Harriman & Co. boosted its stake in Ferguson by 538.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 402 shares of the company’s stock valued at $78,000 after acquiring an additional 339 shares during the period. Finally, Versant Capital Management Inc grew its holdings in shares of Ferguson by 2,462.5% during the second quarter. Versant Capital Management Inc now owns 410 shares of the company’s stock valued at $79,000 after purchasing an additional 394 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of FERG opened at $188.51 on Thursday. The firm has a market capitalization of $38.07 billion, a PE ratio of 20.60, a P/E/G ratio of 5.75 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 firm has a 50-day moving average price of $203.78 and a 200 day moving average price of $207.40. Ferguson plc has a 52-week low of $147.62 and a 52-week high of $225.63.

Ferguson declared that its board has initiated a stock repurchase plan on Tuesday, June 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FERG shares. Barclays reduced their price target 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. Jefferies Financial Group upped their target price on shares of Ferguson from $238.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada cut their price target on Ferguson from $217.00 to $211.00 and set an “outperform” rating on the stock in a report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ferguson currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.00.

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.