Ferguson plc (NASDAQ:FERG) Shares Sold by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. trimmed its position in Ferguson plc (NASDAQ:FERG) by 14.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,333,500 shares of the company’s stock after selling 232,238 shares during the quarter. Diamond Hill Capital Management Inc. owned approximately 0.66% of Ferguson worth $258,232,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BayBridge Capital Group LLC boosted its holdings in Ferguson by 2.0% during the first quarter. BayBridge Capital Group LLC now owns 2,373 shares of the company’s stock worth $494,000 after buying an additional 47 shares in the last quarter. Verdence Capital Advisors LLC raised its position in shares of Ferguson by 3.0% in the first quarter. Verdence Capital Advisors LLC now owns 1,663 shares of the company’s stock valued at $363,000 after buying an additional 48 shares during the last quarter. OneAscent Financial Services LLC grew its holdings in Ferguson by 1.9% in the first quarter. OneAscent Financial Services LLC now owns 2,584 shares of the company’s stock valued at $565,000 after purchasing an additional 49 shares during the period. Financial Advocates Investment Management grew its holdings in Ferguson by 2.7% in the fourth quarter. Financial Advocates Investment Management now owns 1,995 shares of the company’s stock valued at $385,000 after purchasing an additional 52 shares during the period. Finally, Perigon Wealth Management LLC grew its stake in Ferguson by 3.6% during the first quarter. Perigon Wealth Management LLC now owns 1,568 shares of the company’s stock worth $342,000 after buying an additional 55 shares during the period. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Barclays dropped their target price on shares of Ferguson from $232.00 to $229.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Finally, Royal Bank of Canada dropped their price objective on shares of Ferguson from $217.00 to $211.00 and set an “outperform” rating on the stock in a report on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Ferguson has a consensus rating of “Moderate Buy” and a consensus target price of $230.00.

Ferguson Trading Up 1.5 %

Shares of FERG stock opened at $193.07 on Friday. The business’s 50 day moving average is $203.83 and its two-hundred day moving average is $207.13. The company has a market cap of $38.99 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 5.84 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. Ferguson plc has a 12 month low of $147.62 and a 12 month high of $225.63.

Ferguson announced that its Board of Directors has approved a stock buyback plan on Tuesday, June 4th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.