Ferguson plc (NYSE:FERG) Receives $237.14 Consensus Target Price from Brokerages

Shares of Ferguson plc (NYSE:FERG) have received an average rating of “Moderate Buy” from the nineteen ratings firms that are covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $240.7993.

FERG has been the subject of a number of recent research reports. Morgan Stanley reissued an “overweight” rating on shares of Ferguson in a report on Wednesday, September 10th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ferguson in a report on Wednesday, October 8th. UBS Group boosted their price objective on Ferguson from $204.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, September 17th. Zacks Research raised Ferguson to a “hold” rating in a research report on Friday, August 8th. Finally, Robert W. Baird increased their target price on Ferguson from $260.00 to $262.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th.

Insider Buying and Selling

In related news, insider James A. Paisley sold 3,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider owned 2,211 shares in the company, valued at approximately $523,940.67. The trade was a 57.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Allison Stirrup sold 969 shares of the stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $234.23, for a total value of $226,968.87. Following the completion of the transaction, the insider directly owned 5,058 shares in the company, valued at approximately $1,184,735.34. This trade represents a 16.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,264 shares of company stock worth $6,853,349 over the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Ferguson

Several hedge funds have recently made changes to their positions in FERG. True Wealth Design LLC raised its holdings in shares of Ferguson by 145.3% in the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock valued at $28,000 after acquiring an additional 77 shares in the last quarter. Grove Bank & Trust increased its holdings in shares of Ferguson by 247.4% in the 1st quarter. Grove Bank & Trust now owns 198 shares of the company’s stock valued at $32,000 after acquiring an additional 141 shares during the period. TD Private Client Wealth LLC raised its position in shares of Ferguson by 56.5% in the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company’s stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Hemington Wealth Management raised its position in shares of Ferguson by 51.5% in the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company’s stock worth $33,000 after acquiring an additional 52 shares in the last quarter. Finally, Brooklyn Investment Group lifted its stake in shares of Ferguson by 103.6% during the 1st quarter. Brooklyn Investment Group now owns 226 shares of the company’s stock worth $36,000 after purchasing an additional 115 shares during the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Trading Up 2.1%

Shares of FERG stock opened at $245.38 on Friday. The firm’s 50 day simple moving average is $231.74. The stock has a market capitalization of $48.09 billion, a PE ratio of 26.27, a P/E/G ratio of 1.98 and a beta of 1.17. Ferguson has a 12 month low of $146.00 and a 12 month high of $246.65. The company has a current ratio of 1.68, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64.

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

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, September 26th. Ferguson’s dividend payout ratio (DPR) is currently 35.55%.

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.