State of Michigan Retirement System 13F: New $11M Stake in FERG

On October 27, 2026, the State of Michigan Retirement System took a new position in Ferguson Enterprises Inc. (NYSE: FERG), acquiring 48,600 shares valued at approximately $10.8 million. This information comes from the fund's latest 13F filing with the SEC.

FERG Ferguson Enterprises Inc.

$227.87 ▲ +2.42% year to date

1M 3M YTD

Daily close · Oct 27, 2026

What Changed in State of Michigan Retirement System's Ferguson Position

In its filing, the State of Michigan Retirement System reported a new stake of 48,600 shares in Ferguson, which is a significant move considering it was a brand-new position. The position represents about 0.1% of the fund's total reported value of $11.02 billion.

Where Ferguson Fits in State of Michigan Retirement System's Portfolio

Ferguson ranks 42nd out of 966 positions in the State of Michigan Retirement System's portfolio. The new position is valued at approximately $10.8 million, contributing a small portion to the overall fund value.

Other Institutional Activity in Ferguson

Several other institutional investors have also made changes to their Ferguson holdings recently. Mutual of America Capital Management grew its stake by 17,889 shares, ending with 19,775 shares worth about $4.4 million. Jupiter Topco LLC increased its position by 3,769,308 shares, bringing its total to 7,538,616 shares valued at approximately $1.73 billion. In contrast, Robeco Schweiz reduced its holdings by 35,186 shares, leaving it with 240,773 shares worth about $53.6 million.

Ferguson Enterprises Inc. Stock Holds Steady

Ferguson shares closed at $229.56 on October 27, 2026, and recently traded around $229.52. The stock is currently trading about 15.5% below its 52-week high of $271.64 but is above its 52-week low of $212.13. This positioning may reflect a buying opportunity for investors looking for growth in the industrial sector.

Recent Earnings

Ferguson reported trailing twelve-month revenue of about $31.4 billion, with an earnings per share (EPS) of $10.16. The next earnings report is scheduled for November 9, 2026, which could provide further insights into the company's performance and future outlook.

Dividend

Ferguson pays an annual dividend of $3.56 per share, yielding about 1.55%. This dividend payout reflects the company's commitment to returning value to shareholders while pursuing growth opportunities.

Analysts Set New Price Targets

On October 27, 2026, Citigroup upgraded Ferguson with a 'buy' rating and a price target of $288. This follows other analysts maintaining their ratings, with a consensus that includes targets as high as $325 from Bernstein. The overall analyst consensus is a 'buy' rating with a mean price target of $283.23.

About Ferguson Enterprises Inc.

Ferguson Enterprises Inc. is a leading distributor of essential water and air solutions in the U.S. and Canada. It provides various products and services, including plumbing supplies and HVAC systems, serving both residential and non-residential customers. The recent interest from the State of Michigan Retirement System highlights ongoing confidence in the company's market position.

Bottom Line

The State of Michigan Retirement System's new stake in Ferguson adds to the growing interest from institutional investors. With the next earnings report approaching on November 9, 2026, market watchers will be keen to see how Ferguson's performance aligns with analyst expectations.