Renaissance Technologies LLC Sells 3,300 Shares of Ferguson plc (NASDAQ:FERG)

Renaissance Technologies LLC trimmed its holdings in Ferguson plc (NASDAQ:FERG) by 1.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 254,300 shares of the company’s stock after selling 3,300 shares during the quarter. Renaissance Technologies LLC owned 0.13% of Ferguson worth $49,245,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of FERG. Dimensional Fund Advisors LP boosted its holdings in Ferguson by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,563,558 shares of the company’s stock valued at $302,781,000 after purchasing an additional 153,757 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Ferguson by 0.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 45,652 shares of the company’s stock valued at $8,841,000 after buying an additional 212 shares during the last quarter. Rathbones Group PLC lifted its stake in shares of Ferguson by 7.5% in the second quarter. Rathbones Group PLC now owns 6,580 shares of the company’s stock valued at $1,274,000 after buying an additional 461 shares during the period. Thompson Siegel & Walmsley LLC lifted its stake in shares of Ferguson by 7.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 22,882 shares of the company’s stock valued at $4,431,000 after buying an additional 1,682 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in Ferguson by 1.9% during the second quarter. Envestnet Asset Management Inc. now owns 967,849 shares of the company’s stock worth $187,424,000 after buying an additional 18,504 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Ferguson Stock Up 5.0 %

FERG opened at $207.09 on Wednesday. The firm has a market cap of $41.82 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 6.13 and a beta of 1.21. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68. The firm’s 50-day simple moving average is $204.35 and its 200-day simple moving average is $206.95. Ferguson plc has a twelve month low of $147.62 and a twelve month high of $225.63.

Ferguson announced that its board has approved a share buyback program on Tuesday, June 4th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 2.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Ferguson Company Profile

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.