Ferguson (NYSE:FERG) Price Target Raised to $270.00

Ferguson (NYSE:FERG) had its price objective increased by UBS Group from $256.00 to $270.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Robert W. Baird lifted their target price on shares of Ferguson from $288.00 to $300.00 and gave the stock an “outperform” rating in a research report on Tuesday. Weiss Ratings restated a “hold (c+)” rating on shares of Ferguson in a research report on Tuesday, September 29th. Royal Bank Of Canada raised their price objective on Ferguson from $286.00 to $288.00 and gave the company an “outperform” rating in a research note on Tuesday. Rothschild & Co Redburn lifted their price objective on Ferguson from $295.00 to $307.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Finally, Melius Research began coverage on Ferguson in a report on Tuesday, October 6th. They issued a “hold” rating and a $252.00 price objective on the stock. One 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, Ferguson currently has an average rating of “Moderate Buy” and a consensus price target of $289.50.

Ferguson Trading Down 3.5%

FERG stock opened at $255.30 on Tuesday. The company has a market capitalization of $49.44 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 1.87 and a beta of 1.11. Ferguson has a one year low of $212.13 and a one year high of $271.64. The company’s 50 day moving average price is $228.32 and its two-hundred day moving average price is $237.31. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.93 and a current ratio of 1.74.

Ferguson (NYSE:FERG) last announced its quarterly earnings data on Monday, November 9th. The company reported $3.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter. As a group, analysts predict that Ferguson will post 11.50 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 8th. Stockholders of record on Friday, November 20th will be issued a $0.89 dividend. The ex-dividend date is Friday, November 20th. This represents a $3.56 annualized dividend and a dividend yield of 1.4%. Ferguson’s dividend payout ratio (DPR) is currently 41.83%.

Insider Buying and Selling

In related news, CFO William Brundage sold 5,986 shares of Ferguson stock in a transaction on Monday, October 12th. The shares were sold at an average price of $218.74, for a total value of $1,309,377.64. Following the transaction, the chief financial officer directly owned 54,908 shares of the company’s stock, valued at $12,010,575.92. The trade was a 9.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO William Thees, Jr. sold 3,510 shares of the company’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $220.00, for a total transaction of $772,200.00. Following the sale, the chief operating officer owned 32,680 shares of the company’s stock, valued at $7,189,600. This represents a 9.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 43,120 shares of company stock valued at $9,688,839 over the last quarter. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Ferguson

Hedge funds have recently modified their holdings of the company. Saudi Central Bank raised its position in Ferguson by 88.5% during the 2nd quarter. Saudi Central Bank now owns 13,607 shares of the company’s stock valued at $3,229,000 after purchasing an additional 6,389 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich lifted its holdings in Ferguson by 2.5% in the 2nd quarter. Munich Reinsurance Co Stock Corp in Munich now owns 326,515 shares of the company’s stock worth $77,509,000 after buying an additional 7,916 shares during the period. WINTON GROUP Ltd bought a new stake in shares of Ferguson in the 2nd quarter worth approximately $2,183,000. State Street Corp grew its position in shares of Ferguson by 1.1% in the 2nd quarter. State Street Corp now owns 4,619,995 shares of the company’s stock worth $1,100,474,000 after buying an additional 48,544 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of Ferguson by 13.2% during the second quarter. Jones Financial Companies Lllp now owns 96,108 shares of the company’s stock valued at $22,932,000 after buying an additional 11,196 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Trending Headlines about Ferguson

Here are a few of the latest headlines 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.