Morgan Stanley Issues Positive Forecast for Ferguson (NASDAQ:FERG) Stock Price

Ferguson (NASDAQ:FERG) had its target price increased by Morgan Stanley from $195.00 to $220.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of Ferguson from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday. Truist Financial reiterated a “buy” rating and set a $230.00 price target on shares of Ferguson in a report on Wednesday, June 4th. Wells Fargo & Company boosted their price objective on Ferguson from $190.00 to $230.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 4th. Wolfe Research started coverage on Ferguson in a research note on Monday, March 17th. They issued a “peer perform” rating for the company. Finally, Barclays lifted their target price on Ferguson from $190.00 to $247.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 4th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $217.07.

Ferguson Trading Up 1.4%

NASDAQ FERG opened at $213.86 on Monday. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The business has a fifty day simple moving average of $174.49 and a 200 day simple moving average of $177.89. Ferguson has a 12 month low of $146.00 and a 12 month high of $225.63. The firm has a market capitalization of $42.17 billion, a P/E ratio of 25.67, a PEG ratio of 1.69 and a beta of 1.13.

Ferguson (NASDAQ:FERG) last posted its earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. During the same period last year, the business posted $2.32 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, analysts predict that Ferguson will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Friday, June 20th. Ferguson’s dividend payout ratio is presently 41.40%.

Institutional Investors Weigh In On Ferguson

Institutional investors and hedge funds have recently modified their holdings of the company. Manchester Capital Management LLC increased its holdings in Ferguson by 906.7% during the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock worth $26,000 after acquiring an additional 136 shares during the period. LGT Financial Advisors LLC grew its position in shares of Ferguson by 106.3% during the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company’s stock valued at $34,000 after purchasing an additional 102 shares in the last quarter. Grove Bank & Trust increased its holdings in shares of Ferguson by 247.4% in the first quarter. Grove Bank & Trust now owns 198 shares of the company’s stock worth $32,000 after purchasing an additional 141 shares during the period. TD Private Client Wealth LLC raised its position in shares of Ferguson by 56.5% in the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company’s stock worth $33,000 after buying an additional 74 shares in the last quarter. Finally, Whipplewood Advisors LLC raised its position in shares of Ferguson by 166.7% in the first quarter. Whipplewood Advisors LLC now owns 208 shares of the company’s stock worth $33,000 after buying an additional 130 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

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.