Sanford C. Bernstein Begins Coverage on Ferguson (NYSE:FERG)

Equities researchers at Sanford C. Bernstein assumed coverage on shares of Ferguson (NYSE:FERG) in a research note issued on Wednesday,Benzinga reports. The brokerage set an “outperform” rating and a $288.00 price target on the stock. Sanford C. Bernstein’s target price indicates a potential upside of 13.26% from the stock’s previous close.

FERG has been the subject of a number of other reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ferguson in a research report on Wednesday, October 8th. Robert W. Baird raised their price objective on Ferguson from $260.00 to $262.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. Morgan Stanley reaffirmed an “overweight” rating on shares of Ferguson in a report on Wednesday, September 10th. JPMorgan Chase & Co. upped their target price on Ferguson from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Finally, Royal Bank Of Canada increased their target price on Ferguson from $231.00 to $243.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $243.75.

Ferguson Stock Performance

FERG stock opened at $254.27 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94. The company has a 50-day simple moving average of $236.17. Ferguson has a 52 week low of $146.00 and a 52 week high of $255.25. The firm has a market capitalization of $49.83 billion, a P/E ratio of 27.22, a PEG ratio of 2.05 and a beta of 1.18.

Ferguson (NYSE:FERG) last issued its quarterly earnings data on Tuesday, September 16th. The company reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.48. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.44 billion. Ferguson had a net margin of 6.03% and a return on equity of 35.21%.

Insider Buying and Selling

In other news, insider Kevin Michael Murphy sold 8,800 shares of Ferguson stock in a transaction on Monday, October 13th. The stock was sold at an average price of $234.13, for a total value of $2,060,344.00. Following the transaction, the insider owned 159,931 shares in the company, valued at approximately $37,444,645.03. This trade represents a 5.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James A. Paisley sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $236.97, for a total value of $710,910.00. Following the transaction, the insider directly owned 2,211 shares of the company’s stock, valued at $523,940.67. This trade represents a 57.57% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 29,264 shares of company stock worth $6,853,349. 0.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in FERG. True Wealth Design LLC boosted its stake in shares of Ferguson by 145.3% in the 2nd quarter. True Wealth Design LLC now owns 130 shares of the company’s stock valued at $28,000 after purchasing an additional 77 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in Ferguson by 178.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock valued at $31,000 after purchasing an additional 82 shares during the last quarter. Hemington Wealth Management lifted its stake in Ferguson by 51.5% in the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company’s stock valued at $33,000 after purchasing an additional 52 shares during the last quarter. Brooklyn Investment Group boosted its position in Ferguson by 103.6% in the first quarter. Brooklyn Investment Group now owns 226 shares of the company’s stock valued at $36,000 after buying an additional 115 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Ferguson by 230.8% during the second quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock worth $37,000 after buying an additional 120 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

About Ferguson

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.