Ferguson plc (NASDAQ:FERG) Receives $222.40 Consensus Target Price from Brokerages

Ferguson plc (NASDAQ:FERG) has been given an average rating of “Moderate Buy” by the eleven research firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $220.10.

FERG has been the topic of several recent analyst reports. Wells Fargo & Company dropped their price objective on Ferguson from $220.00 to $215.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Zelman & Associates cut shares of Ferguson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 17th. Barclays decreased their price objective on shares of Ferguson from $234.00 to $211.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Citigroup cut their target price on Ferguson from $221.00 to $189.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Finally, Robert W. Baird decreased their price target on Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th.

Ferguson Price Performance

Shares of NASDAQ FERG opened at $182.28 on Wednesday. The stock has a market cap of $36.45 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 1.68 and a beta of 1.24. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. Ferguson has a fifty-two week low of $167.27 and a fifty-two week high of $225.63. The firm’s 50-day simple moving average is $190.48 and its 200 day simple moving average is $198.08.

Ferguson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Friday, December 20th will be issued a $0.83 dividend. The ex-dividend date is Friday, December 20th. This represents a $3.32 annualized dividend and a yield of 1.82%. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s dividend payout ratio (DPR) is 39.86%.

Institutional Investors Weigh In On Ferguson

Several institutional investors have recently added to or reduced their stakes in FERG. Asset Dedication LLC bought a new stake in shares of Ferguson in the third quarter valued at approximately $27,000. True Wealth Design LLC grew its stake in Ferguson by 1,350.0% in the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock valued at $29,000 after buying an additional 135 shares in the last quarter. Berbice Capital Management LLC bought a new stake in Ferguson during the 4th quarter valued at $35,000. Capital Performance Advisors LLP purchased a new stake in shares of Ferguson during the third quarter worth $37,000. Finally, Peterson Financial Group Inc. bought a new position in shares of Ferguson in the third quarter worth $39,000. 81.98% of the stock is owned by hedge funds and other institutional investors.

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.