Ferguson (NYSE:FERG) Coverage Initiated by Analysts at Melius Research

Melius Research assumed coverage on shares of Ferguson (NYSE:FERG) in a research report sent to investors on Tuesday morning, MarketBeat reports. The brokerage issued a hold rating and a $252.00 price objective on the stock.

Several other research analysts have also recently issued reports on FERG. Oppenheimer upped their target price on shares of Ferguson from $280.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $261.00 price target on shares of Ferguson in a research note on Tuesday, August 18th. UBS Group upped their price objective on shares of Ferguson from $252.00 to $256.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Wolfe Research initiated coverage on Ferguson in a report on Tuesday, September 15th. They set a “peer perform” rating on the stock. Finally, Sanford C. Bernstein lifted their target price on shares of Ferguson from $310.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $283.33.

Ferguson Price Performance

FERG stock opened at $223.55 on Tuesday. The business has a 50 day moving average price of $231.66 and a 200 day moving average price of $234.65. The stock has a market cap of $43.25 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 1.55 and a beta of 1.14. Ferguson has a fifty-two week low of $212.13 and a fifty-two week high of $271.64. The company has a quick ratio of 0.93, a current ratio of 1.73 and a debt-to-equity ratio of 0.72.

Ferguson (NYSE:FERG) last announced its quarterly earnings results on Monday, August 10th. The company reported $3.39 EPS for the quarter, beating the consensus estimate of $3.23 by $0.16. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. The company had revenue of $8.75 billion for the quarter. Equities research analysts anticipate that Ferguson will post 11.42 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Friday, August 21st will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, August 21st. Ferguson’s payout ratio is 41.83%.

Insider Buying and Selling

In other Ferguson news, insider Jake Schlicher sold 5,177 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $230.92, for a total transaction of $1,195,472.84. Following the completion of the sale, the insider directly owned 9,490 shares of the company’s stock, valued at approximately $2,191,430.80. This trade represents a 35.30% 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. 0.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ferguson

Large investors have recently modified their holdings of the stock. Compass Financial Management LLC acquired a new stake in shares of Ferguson during the second quarter valued at $32,000. Eastern Bank purchased a new position in Ferguson in the 2nd quarter valued at about $42,000. Vega Investment Solutions boosted its stake in shares of Ferguson by 50.5% during the 2nd quarter. Vega Investment Solutions now owns 277 shares of the company’s stock worth $66,000 after purchasing an additional 93 shares during the last quarter. Keating Financial Advisory Services Inc. boosted its position in Ferguson by 93.5% during the second quarter. Keating Financial Advisory Services Inc. now owns 296 shares of the company’s stock worth $70,000 after acquiring an additional 143 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Ferguson by 26.1% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 300 shares of the company’s stock valued at $67,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.

About Ferguson

Ferguson plc (NYSE: FERG) is a North American distributor of plumbing and heating products, supplying professional customers across the residential, commercial, industrial and infrastructure markets. The company serves contractors, builders, remodelers, municipalities, industrial businesses and other trade professionals through branch locations, distribution centers and digital ordering platforms.

Its product offerings include plumbing supplies and fixtures, heating and cooling equipment, water and wastewater products, fire protection systems, waterworks materials, industrial piping and related maintenance, repair and operating supplies.