Barclays Cuts Ferguson (NASDAQ:FERG) Price Target to $234.00

Ferguson (NASDAQ:FERG) had its target price decreased by Barclays from $245.00 to $234.00 in a report released on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Oppenheimer started coverage on shares of Ferguson in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price objective on the stock. Berenberg Bank increased their price target on shares of Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday. UBS Group lifted their price objective on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $219.00 target price on shares of Ferguson in a report on Wednesday. Finally, Robert W. Baird cut their price target on Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Ferguson currently has an average rating of “Moderate Buy” and a consensus price target of $231.00.

Ferguson Trading Down 1.5 %

Shares of Ferguson stock opened at $187.49 on Thursday. The company has a 50-day moving average of $203.74 and a two-hundred day moving average of $202.29. Ferguson has a 12-month low of $183.63 and a 12-month high of $225.63. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89. The stock has a market cap of $37.49 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 1.90 and a beta of 1.21.

Ferguson (NASDAQ:FERG) last released its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.12. The firm had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $8.01 billion. Ferguson had a return on equity of 34.85% and a net margin of 5.68%. Ferguson’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the business posted $2.77 EPS. On average, research analysts anticipate that Ferguson will post 9.4 EPS for the current fiscal year.

Ferguson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Friday, December 20th will be given a $0.83 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.77%. This is an increase from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s payout ratio is currently 37.94%.

Insider Activity at Ferguson

In other Ferguson news, CAO Richard Winckler sold 1,325 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.75, for a total transaction of $267,318.75. Following the transaction, the chief accounting officer now owns 1,000 shares of the company’s stock, valued at $201,750. This trade represents a 56.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael Jacobs sold 2,624 shares of Ferguson stock in a transaction on Monday, October 14th. The shares were sold at an average price of $200.96, for a total transaction of $527,319.04. Following the completion of the transaction, the vice president now owns 1,116 shares in the company, valued at approximately $224,271.36. This trade represents a 70.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,313 shares of company stock worth $2,477,901. 0.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ferguson

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC lifted its stake in shares of Ferguson by 16.2% in the 2nd quarter. CWM LLC now owns 1,127 shares of the company’s stock valued at $218,000 after purchasing an additional 157 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Ferguson by 4.1% during the second quarter. Sequoia Financial Advisors LLC now owns 2,416 shares of the company’s stock worth $468,000 after buying an additional 95 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Ferguson by 0.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 33,650 shares of the company’s stock worth $6,516,000 after buying an additional 142 shares during the period. Triad Wealth Partners LLC acquired a new stake in shares of Ferguson in the second quarter worth $126,000. Finally, Blue Trust Inc. raised its stake in shares of Ferguson by 995.4% in the 2nd quarter. Blue Trust Inc. now owns 1,895 shares of the company’s stock valued at $367,000 after acquiring an additional 1,722 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.

About Ferguson

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.