Ferguson (NASDAQ:FERG) Sees Strong Trading Volume

Ferguson plc (NASDAQ:FERG) saw unusually-strong trading volume on Tuesday . Approximately 722,834 shares were traded during trading, a decline of 38% from the previous session’s volume of 1,162,598 shares.The stock last traded at $200.63 and had previously closed at $197.22.

Analysts Set New Price Targets

A number of research analysts have weighed in on FERG shares. Jefferies Financial Group boosted their target price on shares of Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Royal Bank of Canada dropped their price objective on Ferguson from $217.00 to $211.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 5th. Finally, Barclays reduced their price objective on Ferguson from $232.00 to $229.00 and set an “overweight” rating for the company in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $230.00.

Ferguson Stock Up 5.0 %

The company has a market capitalization of $41.80 billion, a PE ratio of 21.55, a PEG ratio of 5.84 and a beta of 1.21. 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 stock’s 50 day moving average is $203.96 and its 200 day moving average is $207.00.

Ferguson announced that its Board of Directors has initiated a share repurchase plan on Tuesday, June 4th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Ferguson

Institutional investors have recently made changes to their positions in the stock. Financial Advocates Investment Management lifted its holdings in Ferguson by 2.7% during the 4th quarter. Financial Advocates Investment Management now owns 1,995 shares of the company’s stock worth $385,000 after purchasing an additional 52 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Ferguson in the fourth quarter valued at approximately $732,000. UBS Group AG grew its stake in Ferguson by 104.4% during the fourth quarter. UBS Group AG now owns 213,015 shares of the company’s stock valued at $41,127,000 after acquiring an additional 108,820 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in 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 during the period. Finally, Mckinley Capital Management LLC purchased a new stake in Ferguson in the 4th quarter worth approximately $357,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

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.