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

Ferguson (NASDAQ:FERG) had its price objective raised by Barclays from $247.00 to $273.00 in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. They currently have an overweight rating on the stock.

A number of other research analysts have also weighed in on the company. Royal Bank Of Canada lifted their target price on Ferguson from $231.00 to $243.00 and gave the company an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Ferguson from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Thursday, September 4th. Truist Financial upped their target price on shares of Ferguson from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group raised their price target on shares of Ferguson from $204.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Berenberg Bank restated a “hold” rating and set a $215.00 price target on shares of Ferguson in a research report on Thursday, June 5th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $235.71.

Ferguson Price Performance

Shares of NASDAQ FERG opened at $229.15 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. Ferguson has a fifty-two week low of $146.00 and a fifty-two week high of $243.40. The stock has a market cap of $45.18 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. The stock has a fifty day moving average of $226.73 and a 200-day moving average of $197.69.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, September 26th will be given a dividend of $0.83 per share. The ex-dividend date is Friday, September 26th. This represents a $3.32 dividend on an annualized basis and a yield of 1.4%. Ferguson’s dividend payout ratio (DPR) is presently 41.40%.

Hedge Funds Weigh In On Ferguson

Several institutional investors have recently modified their holdings of FERG. Osaic Holdings Inc. lifted its position in Ferguson by 29.9% in the 2nd quarter. Osaic Holdings Inc. now owns 5,340 shares of the company’s stock worth $1,161,000 after buying an additional 1,229 shares during the last quarter. Orion Porfolio Solutions LLC raised its stake in shares of Ferguson by 4.1% during the second quarter. Orion Porfolio Solutions LLC now owns 5,954 shares of the company’s stock worth $1,296,000 after acquiring an additional 232 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Ferguson in the 2nd quarter worth approximately $7,381,000. Neuberger Berman Group LLC boosted its stake in shares of Ferguson by 39.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 15,122 shares of the company’s stock valued at $3,294,000 after purchasing an additional 4,307 shares in the last quarter. Finally, Thompson Davis & CO. Inc. purchased a new stake in shares of Ferguson in the 2nd quarter valued at $220,000. 81.98% of the stock is currently owned by institutional investors.

Ferguson Company Profile

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.