Is Ferguson plc (FERG) a Growing Company?

Cooper Investors, an investment management firm, released its “Cooper Investors Global Equities Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. The fund returned 6.24% in the fourth quarter, compared to a 7.08% return for the benchmark MSCI ACWI. For the year 2022, the fund returned -24.69% compared to a -17.71% return for its benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Cooper Investors highlighted stocks like Ferguson plc (NYSE:FERG) in the fourth quarter 2022 investor letter. Headquartered in Wokingham, the United Kingdom, Ferguson plc (NYSE:FERG) is a plumbing and heating products distributing company. On January 18, 2023, Ferguson plc (NYSE:FERG) stock closed at $137.96 per share. One-month return of Ferguson plc (NYSE:FERG) was 10.50%, and its shares lost 14.53% of their value over the last 52 weeks. Ferguson plc (NYSE:FERG) has a market capitalization of $28.542 billion.

Cooper Investors made the following comment about Ferguson plc (NYSE:FERG) in its Q4 2022 investor letter:

Ferguson plc (NYSE:FERG) has completed its journey to become a fully US-domiciled and NYSE-listed entity, with the business led by CEO Kevin Murphy continuing to pivot towards higher growth and less cyclical end markets such as water infrastructure and HVAC. The shape of the group looks very different to the UK-listed plumbing distributor we first started following years ago, with the improvements in liquidity and coverage of a US listing just starting to be reflected in the valuation.”

Refrigeration, Airconditioning

Photo by Sigmund on Unsplash

Ferguson plc (NYSE:FERG) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. Per our database, 42 hedge fund portfolios held Ferguson plc (NYSE:FERG) at the end of the third quarter, and 32 in the previous quarter.

We discussed Ferguson plc (NYSE:FERG) in another article and shared Merion Road Capital’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.