Brokerages Set Ferguson plc (NYSE:FERG) Target Price at $240.80

Shares of Ferguson plc (NYSE:FERG) have been assigned a consensus rating of “Moderate Buy” from the twenty ratings firms that are currently covering the company, MarketBeat reports. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $243.7494.

Several research analysts recently issued reports on FERG shares. UBS Group lifted their price objective on Ferguson from $204.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Ferguson in a research report on Wednesday, October 8th. Wells Fargo & Company upped their price objective on Ferguson from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Wednesday, September 17th. Zacks Research raised Ferguson to a “hold” rating in a research note on Friday, August 8th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Ferguson in a research note on Wednesday, September 10th.

Insider Buying and Selling at Ferguson

In other Ferguson news, insider James A. Paisley sold 3,000 shares of the stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $236.97, for a total transaction of $710,910.00. Following the transaction, the insider owned 2,211 shares of the company’s stock, valued at $523,940.67. This represents a 57.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ian T. Graham sold 4,864 shares of the firm’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $233.22, for a total value of $1,134,382.08. Following the sale, the insider owned 7,769 shares in the company, valued at $1,811,886.18. This trade represents a 38.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 29,264 shares of company stock valued at $6,853,349. 0.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ferguson

Several institutional investors have recently added to or reduced their stakes in FERG. Untitled Investments LP acquired a new stake in Ferguson in the first quarter valued at $5,953,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings 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 worth $309,718,000 after acquiring an additional 205,531 shares in the last quarter. Empowered Funds LLC increased its position in shares of Ferguson by 96.1% in the 1st quarter. Empowered Funds LLC now owns 29,251 shares of the company’s stock worth $4,687,000 after purchasing an additional 14,338 shares during the last quarter. Fiera Capital Corp raised its stake in shares of Ferguson by 37.5% in the 1st quarter. Fiera Capital Corp now owns 13,042 shares of the company’s stock valued at $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 in the 1st quarter valued at about $843,000. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Trading Down 4.1%

Shares of NYSE FERG opened at $242.87 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68. The company has a 50-day simple moving average of $236.73. Ferguson has a 52 week low of $146.00 and a 52 week high of $256.93. The firm has a market cap of $47.60 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 2.05 and a beta of 1.18.

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

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Friday, September 26th were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, September 26th. Ferguson’s payout ratio is currently 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.