Ferguson (NASDAQ:FERG) Price Target Lowered to $225.00 at Robert W. Baird

Ferguson (NASDAQ:FERG) had its price target reduced by Robert W. Baird from $230.00 to $225.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts have also weighed in on FERG. Royal Bank of Canada upped their target price on Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. UBS Group increased their price objective on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Barclays lifted their target price on shares of Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Wells Fargo & Company increased their price target on shares of Ferguson from $225.00 to $232.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Citigroup lifted their price objective on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $231.00.

Ferguson Stock Performance

FERG stock opened at $187.47 on Wednesday. The firm has a 50 day simple moving average of $203.74 and a 200 day simple moving average of $202.32. Ferguson has a 52 week low of $183.63 and a 52 week high of $225.63. The stock has a market cap of $37.48 billion, a P/E ratio of 22.51, a P/E/G ratio of 1.95 and a beta of 1.21. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.80.

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

Ferguson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Friday, December 20th will be paid a $0.83 dividend. The ex-dividend date is Friday, December 20th. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a yield of 1.77%. Ferguson’s dividend payout ratio (DPR) is presently 39.86%.

Insiders Place Their Bets

In other Ferguson news, VP Michael Jacobs sold 2,624 shares of Ferguson stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $200.96, for a total value of $527,319.04. Following the transaction, the vice president now directly owns 1,116 shares of the company’s stock, valued at $224,271.36. The trade was a 70.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Richard Winckler sold 1,325 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.75, for a total value of $267,318.75. Following the completion of the sale, the chief accounting officer now directly owns 1,000 shares of the company’s stock, valued at $201,750. This represents a 56.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,313 shares of company stock valued at $2,477,901 in the last quarter. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Ferguson

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