Ferguson (NYSE:FERG) Hits New 52-Week High on Analyst Upgrade

Ferguson plc (NYSE:FERG) hit a new 52-week high on Tuesday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The company traded as high as $245.26 and last traded at $245.41, with a volume of 196242 shares changing hands. The stock had previously closed at $242.02.

Several other brokerages have also recently issued reports on FERG. Royal Bank Of Canada raised their target price on shares of Ferguson from $231.00 to $243.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Barclays lifted their price target on shares of Ferguson from $247.00 to $273.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. Robert W. Baird lifted their price target on shares of Ferguson from $260.00 to $262.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. Oppenheimer lifted their price target on shares of Ferguson from $235.00 to $255.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Ferguson in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $240.80.

Insider Transactions at Ferguson

In other news, insider Allison Stirrup sold 969 shares of the business’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $234.23, for a total value of $226,968.87. Following the sale, the insider directly owned 5,058 shares in the company, valued at $1,184,735.34. The trade was a 16.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Richard Winckler sold 1,034 shares of the business’s stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $232.70, for a total transaction of $240,611.80. Following the completion of the sale, the chief accounting officer owned 1,458 shares in the company, valued at approximately $339,276.60. This trade represents a 41.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,264 shares of company stock worth $6,853,349. 0.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Ferguson

A number of large investors have recently made changes to their positions in FERG. True Wealth Design LLC boosted its position in Ferguson by 145.3% in the 2nd quarter. True Wealth Design LLC now owns 130 shares of the company’s stock valued at $28,000 after buying an additional 77 shares during the period. Hemington Wealth Management lifted its position in shares of Ferguson by 51.5% in the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company’s stock worth $33,000 after purchasing an additional 52 shares during the period. Fifth Third Bancorp lifted its position in shares of Ferguson by 230.8% in the 2nd quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock worth $37,000 after purchasing an additional 120 shares during the period. Maseco LLP purchased a new stake in shares of Ferguson in the 2nd quarter worth approximately $40,000. Finally, TD Private Client Wealth LLC lifted its position in shares of Ferguson by 56.5% in the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company’s stock worth $33,000 after purchasing an additional 74 shares during the period. 81.98% of the stock is currently owned by institutional investors.

Ferguson Trading Up 1.1%

The firm has a 50-day moving average of $231.19. The firm has a market capitalization of $47.97 billion, a PE ratio of 26.21, a PEG ratio of 1.99 and a beta of 1.17. The company has a current ratio of 1.68, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64.

Ferguson (NYSE:FERG) last announced its quarterly earnings results on Tuesday, September 16th. The company reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.48. Ferguson had a net margin of 6.03% and a return on equity of 35.21%. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.44 billion.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, September 26th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 26th. Ferguson’s dividend payout ratio is presently 35.55%.

About Ferguson

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.