Ferguson (NASDAQ:FERG) Given New $260.00 Price Target at Truist Financial

Ferguson (NASDAQ:FERG) had its price objective increased by Truist Financial from $240.00 to $260.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

FERG has been the topic of a number of other reports. Barclays lifted their price objective on shares of Ferguson from $190.00 to $247.00 and gave the company an “overweight” rating in a research note on Wednesday, June 4th. Royal Bank Of Canada lifted their target price on Ferguson from $231.00 to $243.00 and gave the stock an “outperform” rating in a report on Wednesday. Robert W. Baird boosted their price target on shares of Ferguson from $260.00 to $262.00 and gave the stock an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Ferguson from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, September 4th. Finally, Oppenheimer boosted their price target on shares of Ferguson from $189.00 to $235.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 4th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $233.86.

Ferguson Price Performance

Shares of NASDAQ FERG opened at $224.77 on Wednesday. Ferguson has a fifty-two week low of $146.00 and a fifty-two week high of $243.40. The firm’s 50-day simple moving average is $226.63 and its 200 day simple moving average is $197.30. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The stock has a market cap of $44.32 billion, a P/E ratio of 26.98, a P/E/G ratio of 1.69 and a beta of 1.15.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $3.32 dividend on an annualized basis and a yield of 1.5%. Ferguson’s dividend payout ratio (DPR) is currently 41.40%.

Hedge Funds Weigh In On Ferguson

Institutional investors have recently bought and sold shares of the stock. Untitled Investments LP purchased a new position in Ferguson in the 1st quarter worth about $5,953,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Ferguson by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,932,959 shares of the company’s stock valued at $309,718,000 after acquiring an additional 205,531 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Ferguson by 14.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,782 shares of the company’s stock valued at $928,000 after purchasing an additional 722 shares during the period. Fiera Capital Corp lifted its position in shares of Ferguson by 37.5% in the first quarter. Fiera Capital Corp now owns 13,042 shares of the company’s stock worth $2,090,000 after purchasing an additional 3,559 shares in the last quarter. Finally, Empower Advisory Group LLC acquired a new stake in shares of Ferguson during the first quarter worth approximately $843,000. 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.