Dai ichi Life Insurance Company Ltd Sells 1,300 Shares of Ferguson plc (NASDAQ:FERG)

Dai ichi Life Insurance Company Ltd cut its stake in Ferguson plc (NASDAQ:FERG) by 6.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,349 shares of the company’s stock after selling 1,300 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Ferguson were worth $3,553,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Richardson Financial Services Inc. acquired a new stake in shares of Ferguson during the 4th quarter worth approximately $25,000. EdgeRock Capital LLC acquired a new stake in shares of Ferguson during the 2nd quarter worth approximately $32,000. MCF Advisors LLC acquired a new stake in shares of Ferguson during the 1st quarter worth approximately $47,000. Brown Brothers Harriman & Co. grew its position in shares of Ferguson by 538.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 402 shares of the company’s stock worth $78,000 after buying an additional 339 shares during the period. Finally, Versant Capital Management Inc grew its position in shares of Ferguson by 2,462.5% during the 2nd quarter. Versant Capital Management Inc now owns 410 shares of the company’s stock worth $79,000 after buying an additional 394 shares during the period. 81.98% of the stock is owned by institutional investors.

Ferguson Stock Performance

Shares of FERG opened at $193.07 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68. Ferguson plc has a twelve month low of $147.62 and a twelve month high of $225.63. The firm’s 50 day moving average price is $203.83 and its two-hundred day moving average price is $207.13. The firm has a market cap of $38.99 billion, a P/E ratio of 21.10, a PEG ratio of 5.84 and a beta of 1.21.

Ferguson declared that its Board of Directors has authorized a share 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 buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

FERG has been the subject of several analyst reports. Royal Bank of Canada lowered their price target on shares of Ferguson from $217.00 to $211.00 and set an “outperform” rating for the company in a research report on Wednesday, June 5th. Jefferies Financial Group boosted their price objective 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, Barclays decreased their price objective 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. 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $230.00.

Ferguson 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.