SYSTM Wealth Solutions LLC Has $6.28 Million Stock Holdings in Ferguson plc (NASDAQ:FERG)

SYSTM Wealth Solutions LLC trimmed its holdings in shares of Ferguson plc (NASDAQ:FERG) by 10.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,357 shares of the company’s stock after selling 3,655 shares during the period. Ferguson comprises 1.4% of SYSTM Wealth Solutions LLC’s holdings, making the stock its 18th largest position. SYSTM Wealth Solutions LLC’s holdings in Ferguson were worth $6,276,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FERG. Financial Advocates Investment Management boosted its stake in shares of Ferguson by 2.7% during the 4th quarter. Financial Advocates Investment Management now owns 1,995 shares of the company’s stock worth $385,000 after buying an additional 52 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ferguson during the 4th quarter worth about $732,000. UBS Group AG boosted its stake in shares of Ferguson by 104.4% during the 4th quarter. UBS Group AG now owns 213,015 shares of the company’s stock worth $41,127,000 after buying an additional 108,820 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of Ferguson by 5.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 1,989 shares of the company’s stock worth $384,000 after buying an additional 109 shares during the last quarter. Finally, Balentine LLC raised its holdings in shares of Ferguson by 5.7% in the 4th quarter. Balentine LLC now owns 3,805 shares of the company’s stock valued at $735,000 after purchasing an additional 204 shares during the period. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FERG has been the topic of a number of research analyst reports. 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. 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 report on Wednesday, July 17th. Finally, Royal Bank of Canada dropped their target price 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 assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Ferguson currently has an average rating of “Moderate Buy” and an average target price of $230.00.

Ferguson Stock Up 5.0 %

Ferguson stock opened at $207.09 on Wednesday. The stock has a market cap of $41.82 billion, a P/E ratio of 20.80, a P/E/G ratio of 6.13 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 twelve month low of $147.62 and a twelve month high of $225.63. The company’s 50-day moving average price is $204.35 and its two-hundred day moving average price is $206.95.

Ferguson declared that its board has authorized a stock buyback plan on Tuesday, June 4th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership 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.