PNC Financial Services Group Inc. Boosts Stock Position in Ferguson plc (NASDAQ:FERG)

PNC Financial Services Group Inc. lifted its position in Ferguson plc (NASDAQ:FERG) by 10.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,663 shares of the company’s stock after buying an additional 438 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ferguson were worth $651,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Raymond James & Associates increased its holdings in Ferguson by 0.5% during the 3rd quarter. Raymond James & Associates now owns 52,620 shares of the company’s stock worth $7,327,000 after purchasing an additional 275 shares during the period. Live Oak Private Wealth LLC increased its holdings in Ferguson by 7.2% during the 3rd quarter. Live Oak Private Wealth LLC now owns 9,049 shares of the company’s stock worth $1,263,000 after purchasing an additional 604 shares during the period. Janney Montgomery Scott LLC increased its holdings in Ferguson by 0.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 56,787 shares of the company’s stock worth $7,923,000 after purchasing an additional 379 shares during the period. Vontobel Holding Ltd. increased its holdings in Ferguson by 3.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 253,623 shares of the company’s stock worth $35,319,000 after purchasing an additional 9,573 shares during the period. Finally, M&T Bank Corp increased its holdings in Ferguson by 4.5% during the 3rd quarter. M&T Bank Corp now owns 3,033 shares of the company’s stock worth $424,000 after purchasing an additional 130 shares during the period. Institutional investors own 34.84% of the company’s stock.

Several research analysts have recently issued reports on the company. Truist upped their price objective on Ferguson from $162.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, December 13th. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Ferguson in a research report on Tuesday, October 5th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Ferguson in a research report on Wednesday, September 29th. Zacks Investment Research raised Ferguson from a “hold” rating to a “buy” rating and set a $183.00 target price for the company in a research report on Friday, December 10th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Ferguson in a research report on Thursday, October 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $189.67.

Ferguson stock opened at $172.33 on Friday. Ferguson plc has a twelve month low of $116.70 and a twelve month high of $183.67. The stock has a 50 day moving average of $166.05 and a two-hundred day moving average of $151.27. The company has a quick ratio of 0.97, a current ratio of 1.67 and a debt-to-equity ratio of 0.53.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings data on Tuesday, December 7th. The company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.36. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.55 billion. Analysts predict that Ferguson plc will post 8.29 earnings per share for the current fiscal year.

About Ferguson

Ferguson plc distributes plumbing and heating products in the United States, the United Kingdom, Canada, and Central Europe. It offers plumbing and heating solutions to customers in the residential, municipal, civil and industrial markets, and commercial sectors for repair, maintenance, and improvement (RMI), as well as new construction markets.

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Institutional Ownership by Quarter for Ferguson (NASDAQ:FERG)

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