Ferguson (NYSE:FERG) Price Target Raised to $295.00

Ferguson (NYSE:FERG) had its price target lifted by Barclays from $278.00 to $295.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts also recently commented on the company. UBS Group lowered their target price on Ferguson from $225.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, December 10th. Wells Fargo & Company upped their price objective on shares of Ferguson from $280.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Ferguson from $237.00 to $246.00 and gave the company a “hold” rating in a research report on Thursday, December 11th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Ferguson in a research note on Thursday, January 8th. Finally, Wall Street Zen cut Ferguson from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Ferguson currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.62.

Ferguson Stock Down 1.6%

Shares of FERG opened at $260.62 on Wednesday. The firm has a 50 day simple moving average of $247.14 and a two-hundred day simple moving average of $240.04. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01. Ferguson has a one year low of $146.00 and a one year high of $271.64. The company has a market cap of $50.96 billion, a P/E ratio of 26.33, a P/E/G ratio of 2.16 and a beta of 1.18.

Ferguson (NYSE:FERG) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.25). Ferguson had a net margin of 6.28% and a return on equity of 35.73%. During the same period in the prior year, the business posted $1.52 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Friday, March 6th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, March 6th. Ferguson’s payout ratio is 35.96%.

Institutional Investors Weigh In On Ferguson

A number of institutional investors have recently made changes to their positions in the stock. Atria Investments Inc raised its position in shares of Ferguson by 38.2% in the 3rd quarter. Atria Investments Inc now owns 15,401 shares of the company’s stock worth $3,459,000 after acquiring an additional 4,259 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in Ferguson during the third quarter worth approximately $1,002,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Ferguson by 11.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,523 shares of the company’s stock worth $4,609,000 after purchasing an additional 2,145 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Ferguson by 21.0% in the third quarter. Allianz Asset Management GmbH now owns 322,924 shares of the company’s stock worth $72,522,000 after purchasing an additional 55,981 shares in the last quarter. Finally, iA Global Asset Management Inc. acquired a new position in Ferguson in the third quarter valued at approximately $1,252,000. Institutional investors own 81.98% of the company’s stock.

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.