Barclays Cuts Ferguson (NASDAQ:FERG) Price Target to $234.00

Ferguson (NASDAQ:FERG) had its target price lowered by Barclays from $245.00 to $234.00 in a research report report published on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Oppenheimer began coverage on shares of Ferguson in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price target on the stock. UBS Group increased their target price on shares of Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Citigroup boosted their price target on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Robert W. Baird lowered their price objective on Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $219.00 target price on shares of Ferguson in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Ferguson currently has an average rating of “Moderate Buy” and a consensus target price of $231.00.

Ferguson Stock Performance

Shares of FERG stock opened at $190.35 on Thursday. The firm’s 50 day moving average is $203.89 and its 200 day moving average is $202.46. The stock has a market capitalization of $38.06 billion, a P/E ratio of 20.41, a PEG ratio of 1.95 and a beta of 1.21. Ferguson has a 12 month low of $180.98 and a 12 month high of $225.63. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89.

Ferguson (NASDAQ:FERG) last posted its earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.12. Ferguson had a return on equity of 34.85% and a net margin of 5.68%. The firm had revenue of $7.95 billion for the quarter, compared to the consensus estimate of $8.01 billion. During the same quarter in the prior year, the business posted $2.77 earnings per share. The business’s quarterly revenue was up 1.4% on a year-over-year basis. On average, sell-side analysts anticipate that Ferguson will post 9.59 earnings per share for the current year.

Ferguson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Friday, December 20th will be given a dividend of $0.83 per share. This is a boost from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Friday, December 20th. Ferguson’s dividend payout ratio (DPR) is presently 37.94%.

Insiders Place Their Bets

In other Ferguson news, CMO Victoria Morrissey sold 1,468 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $201.20, for a total value of $295,361.60. Following the completion of the sale, the chief marketing officer now owns 5,205 shares in the company, valued at approximately $1,047,246. The trade was a 22.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Richard Winckler sold 1,325 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $201.75, for a total transaction of $267,318.75. Following the completion of the transaction, the chief accounting officer now owns 1,000 shares in the company, valued at $201,750. This represents a 56.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,313 shares of company stock valued at $2,477,901 over the last three months. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FERG. Asset Dedication LLC bought a new stake in shares of Ferguson in the 3rd quarter worth approximately $27,000. True Wealth Design LLC boosted its holdings in Ferguson by 1,350.0% in the third quarter. True Wealth Design LLC now owns 145 shares of the company’s stock valued at $29,000 after acquiring an additional 135 shares in the last quarter. EdgeRock Capital LLC purchased a new position in Ferguson during the 2nd quarter valued at $32,000. Capital Performance Advisors LLP bought a new position in Ferguson in the 3rd quarter worth $37,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Ferguson in the 3rd quarter worth about $39,000. Institutional investors own 81.98% of the company’s stock.

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.