Ferguson (NYSE:FERG) Upgraded by Jefferies Financial Group to “Strong-Buy” Rating

Jefferies Financial Group upgraded shares of Ferguson (NYSE:FERG) to a strong-buy rating in a research note published on Thursday,Zacks reports.

A number of other brokerages have also recently issued reports on FERG. The Goldman Sachs Group cut Ferguson from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $315.00 to $265.00 in a report on Monday, July 6th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $261.00 price target on shares of Ferguson in a research note on Tuesday, August 18th. Sanford C. Bernstein upped their price objective on Ferguson from $310.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Wells Fargo & Company raised their price objective on shares of Ferguson from $285.00 to $295.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Finally, Citigroup reissued a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $285.57.

Ferguson Stock Performance

Shares of Ferguson stock opened at $228.53 on Thursday. The company’s 50 day moving average price is $235.52 and its two-hundred day moving average price is $238.23. The firm has a market capitalization of $44.21 billion, a P/E ratio of 26.85, a P/E/G ratio of 1.55 and a beta of 1.13. Ferguson has a fifty-two week low of $207.64 and a fifty-two week high of $271.64. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 0.93.

Ferguson (NYSE:FERG) last announced its quarterly earnings results on Monday, August 10th. The company reported $3.39 earnings per share (EPS) for the quarter, topping 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 during the quarter. On average, equities analysts forecast that Ferguson will post 11.42 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

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

Insiders Place Their Bets

In other Ferguson news, insider Jake Schlicher sold 5,177 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were 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 owned 9,490 shares of the company’s stock, valued at approximately $2,191,430.80. This represents a 35.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Ferguson

Several large investors have recently modified their holdings of FERG. California State Teachers Retirement System lifted its holdings in Ferguson by 23,684.2% in the second quarter. California State Teachers Retirement System now owns 69,745,828 shares of the company’s stock valued at $16,552,777,000 after buying an additional 69,452,584 shares during the period. Wellington Management Group LLP grew its holdings in Ferguson by 150.8% during the 4th quarter. Wellington Management Group LLP now owns 9,366,465 shares of the company’s stock worth $2,085,256,000 after acquiring an additional 5,631,554 shares during the period. Jupiter Topco LLC bought a new position in shares of Ferguson in the 2nd quarter worth about $1,789,368,000. Janus Henderson Group PLC raised its position in shares of Ferguson by 2.1% in the 1st quarter. Janus Henderson Group PLC now owns 6,107,108 shares of the company’s stock worth $1,424,075,000 after acquiring an additional 125,317 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Ferguson by 1.8% in the 4th quarter. State Street Corp now owns 4,516,764 shares of the company’s stock valued at $1,005,567,000 after purchasing an additional 79,296 shares during the period. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Company Profile

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.