Ferguson (NYSE:FERG) Price Target Raised to $300.00

Ferguson (NYSE:FERG) had its target price increased by Robert W. Baird from $288.00 to $300.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

FERG has been the subject of several other research reports. Deutsche Bank cut their price objective on Ferguson from $261.00 to $235.00 in a report on Thursday, October 8th. Barclays increased their target price on Ferguson from $297.00 to $313.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Bank of America dropped their target price on Ferguson from $325.00 to $315.00 in a research report on Tuesday, August 18th. Wolfe Research began coverage on Ferguson in a research note on Tuesday, September 15th. They set a “peer perform” rating for the company. Finally, The Goldman Sachs Group reduced their price target on shares of Ferguson from $290.00 to $270.00 and set a “neutral” rating for the company in a research report on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $289.50.

Ferguson Stock Down 3.5%

FERG opened at $255.30 on Tuesday. The stock has a market capitalization of $49.44 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 1.87 and a beta of 1.11. The firm has a 50 day moving average price of $228.32 and a 200-day moving average price of $237.31. Ferguson has a twelve month low of $212.13 and a twelve month high of $271.64. The company has a quick ratio of 0.93, a current ratio of 1.74 and a debt-to-equity ratio of 0.84.

Ferguson (NYSE:FERG) last issued its earnings results on Monday, November 9th. The company reported $3.43 earnings per share (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 company had revenue of $9.03 billion for the quarter. Equities research analysts forecast that Ferguson will post 11.50 earnings per share for the current year.

Ferguson Announces Dividend

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

Insider Buying and Selling at Ferguson

In other news, insider James A. Paisley sold 2,300 shares of the firm’s stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $258.59, for a total value of $594,757.00. Following the transaction, the insider owned 5,263 shares of the company’s stock, valued at $1,360,959.17. This trade represents a 30.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ian T. Graham sold 1,093 shares of Ferguson stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $260.00, for a total value of $284,180.00. Following the transaction, the insider directly owned 8,781 shares in the company, valued at approximately $2,283,060. The trade was a 11.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 43,120 shares of company stock valued at $9,688,839 in the last ninety days. 0.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ferguson

Large investors have recently added to or reduced their stakes in the company. Jupiter Topco LLC bought a new position in shares of Ferguson in the second quarter worth approximately $1,789,368,000. State Street Corp lifted its stake in shares of Ferguson by 83.2% during the 3rd quarter. State Street Corp now owns 8,463,860 shares of the company’s stock valued at $1,891,695,000 after buying an additional 3,843,865 shares in the last quarter. Impax Asset Management Group plc boosted its holdings in Ferguson by 1,176.7% in the 3rd quarter. Impax Asset Management Group plc now owns 895,921 shares of the company’s stock worth $199,450,000 after buying an additional 825,744 shares during the period. Man Group plc boosted its holdings in Ferguson by 613.8% in the 2nd quarter. Man Group plc now owns 401,395 shares of the company’s stock worth $95,263,000 after buying an additional 345,165 shares during the period. Finally, Bank of America Corp DE increased its stake in Ferguson by 43.6% in the 1st quarter. Bank of America Corp DE now owns 1,029,896 shares of the company’s stock worth $240,234,000 after buying an additional 312,756 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Key Ferguson News

Here’s some of the latest news about FERG:

• 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.