Ferguson (NYSE:FERG) Price Target Raised to $314.00

Ferguson (NYSE:FERG) had its price target increased by Barclays from $313.00 to $314.00 in a report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts have also recently issued research reports about the company. Citigroup upgraded Ferguson from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $285.00 to $288.00 in a research report on Tuesday, October 27th. Robert W. Baird upped their target price on Ferguson from $288.00 to $300.00 and gave the company an “outperform” rating in a research report on Tuesday. Rothschild & Co Redburn raised their price target on Ferguson from $295.00 to $307.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Oppenheimer lifted their price target on Ferguson from $280.00 to $288.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Finally, Melius Research assumed coverage on Ferguson in a research note on Tuesday, October 6th. They issued a “hold” rating and a $252.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Ferguson presently has a consensus rating of “Moderate Buy” and a consensus price target of $289.50.

Ferguson Trading Down 3.5%

Shares of Ferguson stock opened at $255.30 on Tuesday. The company has a fifty day simple moving average of $228.32 and a 200-day simple moving average of $237.31. Ferguson has a 12-month low of $212.13 and a 12-month high of $271.64. The company has a current ratio of 1.74, a quick ratio of 0.93 and a debt-to-equity ratio of 0.84. The stock has a market cap of $49.44 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 1.87 and a beta of 1.11.

Ferguson (NYSE:FERG) last announced its quarterly earnings results on Monday, November 9th. The company reported $3.43 EPS for the quarter, topping the consensus estimate of $3.28 by $0.15. Ferguson had a net margin of 6.73% and a return on equity of 37.69%. The firm had revenue of $9.03 billion for the quarter. On average, equities analysts forecast that Ferguson will post 11.50 EPS for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 8th. Stockholders of record on Friday, November 20th will be paid a dividend of $0.89 per share. The ex-dividend date is Friday, November 20th. This represents a $3.56 annualized dividend and a dividend yield of 1.4%. Ferguson’s dividend payout ratio is 41.83%.

Insider Activity

In other Ferguson news, CFO William Brundage sold 5,986 shares of the stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $218.74, for a total transaction of $1,309,377.64. Following the completion of the sale, the chief financial officer directly owned 54,908 shares of the company’s stock, valued at approximately $12,010,575.92. This trade represents a 9.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO William T. Thees, Jr. sold 3,510 shares of the stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $220.00, for a total value of $772,200.00. Following the sale, the chief operating officer directly owned 32,680 shares of the company’s stock, valued at $7,189,600. The trade was a 9.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 43,120 shares of company stock valued at $9,688,839. Insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. State Street Corp lifted its holdings in shares of Ferguson by 83.2% during the third quarter. State Street Corp now owns 8,463,860 shares of the company’s stock worth $1,891,695,000 after purchasing an additional 3,843,865 shares during the period. Jupiter Topco LLC acquired a new position in Ferguson in the 2nd quarter valued at $1,789,368,000. Janus Henderson Group PLC increased its stake in Ferguson by 2.1% in the 1st quarter. Janus Henderson Group PLC now owns 6,107,108 shares of the company’s stock valued at $1,424,075,000 after buying an additional 125,317 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Ferguson by 0.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,055,351 shares of the company’s stock valued at $487,796,000 after buying an additional 16,866 shares during the period. Finally, W1M Asset Management Ltd lifted its stake in shares of Ferguson by 6.2% in the 2nd quarter. W1M Asset Management Ltd now owns 1,980,510 shares of the company’s stock worth $469,945,000 after acquiring an additional 116,418 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Trending Headlines about Ferguson

Investors following FERG have been watching these headlines:

• Positive Sentiment: Analysts offered supportive outlooks: UBS raised its price target, while Barclays and Robert W. Baird indicated further potential for the shares. UBS price target increase Barclays outlook Baird outlook
• Positive Sentiment: Ferguson recently reported quarterly earnings of $3.43 per share, above the $3.28 consensus estimate, prompting a report that the stock gapped up after the results. Ferguson shares gap up on earnings beat
• Negative Sentiment: Three insiders reported selling a combined 4,312 shares for roughly $1.12 million. The sales reduced each individual’s holdings; one was made under a pre-arranged Rule 10b5-1 plan. Multiple insider sales can create a near-term cautionary signal, though they do not necessarily reflect views on the company’s prospects. Winckler SEC filing Paisley SEC filing Graham SEC filing

Ferguson Company Profile

Ferguson plc is a distributor of plumbing, heating, ventilation and air conditioning (HVAC), waterworks, and fire protection products. It supplies contractors and other professional customers with products, services, and expertise for residential, commercial, industrial, and infrastructure projects. The company serves customers primarily in the United States and Canada through branches, distribution centers, and digital channels. Its offerings include pipes, valves and fittings, plumbing fixtures, HVAC equipment, water and wastewater products, and fire protection systems.