Barclays Boosts Ferguson (NASDAQ:FERG) Price Target to $245.00

Ferguson (NASDAQ:FERG) had its price objective lifted by Barclays from $229.00 to $245.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

FERG has been the subject of a number of other reports. Jefferies Financial Group boosted their price objective on shares of Ferguson from $238.00 to $250.00 and gave the stock a buy rating in a report on Wednesday, July 17th. Robert W. Baird upped their price target on shares of Ferguson from $222.00 to $225.00 and gave the company an outperform rating in a report on Wednesday. Royal Bank of Canada upped their price target on shares of Ferguson from $211.00 to $219.00 and gave the company an outperform rating in a report on Wednesday. Finally, UBS Group upped their price target on shares of Ferguson from $228.00 to $236.00 and gave the company a buy rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Ferguson presently has an average rating of Moderate Buy and an average price target of $231.57.

Ferguson Trading Down 5.6 %

Shares of FERG opened at $196.52 on Wednesday. The firm has a market cap of $39.69 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 6.13 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. Ferguson has a fifty-two week low of $147.62 and a fifty-two week high of $225.63. The firm has a 50 day moving average price of $204.88 and a 200-day moving average price of $206.95.

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

Ferguson Dividend Announcement

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

Ferguson declared that its Board of Directors has initiated a share buyback plan on Tuesday, June 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC purchased a new position in Ferguson during the 2nd quarter valued at $976,000. Kestra Investment Management LLC purchased a new stake in shares of Ferguson in the 2nd quarter worth about $536,000. Clearbridge Investments LLC grew its position in shares of Ferguson by 20.7% in the 2nd quarter. Clearbridge Investments LLC now owns 176,231 shares of the company’s stock worth $34,127,000 after buying an additional 30,186 shares during the period. Regency Capital Management Inc. DE grew its position in shares of Ferguson by 7.0% in the 2nd quarter. Regency Capital Management Inc. DE now owns 5,166 shares of the company’s stock worth $1,000,000 after buying an additional 339 shares during the period. Finally, Ascent Group LLC grew its position in shares of Ferguson by 11.5% in the 2nd quarter. Ascent Group LLC now owns 7,321 shares of the company’s stock worth $1,418,000 after buying an additional 753 shares during the period. 81.98% of the stock is owned by hedge funds and other institutional investors.

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.