Ferguson (NASDAQ:FERG) Price Target Raised to $221.00

Ferguson (NASDAQ:FERG) had its target price upped by Citigroup from $203.00 to $221.00 in a report published on Wednesday morning, Marketbeat.com reports. They currently have a neutral rating on the stock.

FERG has been the subject of several other research reports. Jefferies Financial Group lifted their price objective on Ferguson from $238.00 to $250.00 and gave the stock a buy rating in a report on Wednesday, July 17th. Barclays boosted their price target on Ferguson from $229.00 to $245.00 and gave the company an overweight rating in a report on Wednesday. UBS Group boosted their price target on Ferguson from $228.00 to $236.00 and gave the company a buy rating in a report on Wednesday. Robert W. Baird boosted their price target on Ferguson from $222.00 to $225.00 and gave the company an outperform rating in a report on Wednesday. Finally, Royal Bank of Canada boosted their price target on Ferguson from $211.00 to $219.00 and gave the company an outperform rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $231.57.

Ferguson Stock Down 5.6 %

FERG stock opened at $196.52 on Wednesday. Ferguson has a 1-year low of $147.62 and a 1-year high of $225.63. The business has a fifty day moving average price of $204.88 and a 200-day moving average price of $206.95. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94. The stock has a market capitalization of $39.69 billion, a P/E ratio of 21.48, a P/E/G ratio of 6.13 and a beta of 1.21.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.12. Ferguson had a return on equity of 36.89% and a net margin of 6.33%. The firm had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $8.01 billion. During the same quarter in the previous year, the business earned $2.77 earnings per share. The company’s revenue was up 1.4% on a year-over-year basis. Equities analysts forecast that Ferguson will post 9.63 earnings per share for the current fiscal year.

Ferguson declared that its Board of Directors has approved a stock buyback plan on Tuesday, June 4th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Ferguson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be given a $0.79 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.16 annualized dividend and a dividend yield of 1.61%. Ferguson’s payout ratio is 34.54%.

Hedge Funds Weigh In On Ferguson

Several large investors have recently made changes to their positions in FERG. Dynamic Technology Lab Private Ltd bought a new position in Ferguson during the fourth quarter valued at approximately $732,000. UBS Group AG raised its holdings in shares of Ferguson by 104.4% during the 4th quarter. UBS Group AG now owns 213,015 shares of the company’s stock worth $41,127,000 after acquiring an additional 108,820 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Ferguson by 5.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 1,989 shares of the company’s stock worth $384,000 after acquiring an additional 109 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Ferguson by 20.4% during the 4th quarter. Wells Fargo & Company MN now owns 348,610 shares of the company’s stock worth $67,306,000 after acquiring an additional 59,185 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Ferguson by 27.8% during the 4th quarter. Clearbridge Investments LLC now owns 13,070 shares of the company’s stock worth $2,523,000 after acquiring an additional 2,841 shares in the last quarter. 81.98% of the stock is currently 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.