Brokerages Set Ferguson plc (NASDAQ:FERG) PT at $230.44

Ferguson plc (NASDAQ:FERG) has earned a consensus rating of “Moderate Buy” from the ten analysts that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $230.44.

A number of equities analysts recently commented on FERG shares. Robert W. Baird dropped their price target on Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Citigroup raised their target price on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. Berenberg Bank lifted their price objective on shares of Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Royal Bank of Canada restated an “outperform” rating and set a $219.00 target price on shares of Ferguson in a research report on Wednesday, December 11th. Finally, Barclays dropped their price target on Ferguson from $245.00 to $234.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th.

Ferguson Stock Down 0.9 %

FERG opened at $176.50 on Friday. The company has a market capitalization of $35.29 billion, a PE ratio of 21.19, a price-to-earnings-growth ratio of 1.90 and a beta of 1.21. The firm has a 50-day simple moving average of $202.08 and a two-hundred day simple moving average of $201.50. The company has a quick ratio of 1.00, a current ratio of 1.80 and a debt-to-equity ratio of 0.89. Ferguson has a 52 week low of $172.00 and a 52 week high of $225.63.

Ferguson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Friday, December 20th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.88%. This is an increase from Ferguson’s previous quarterly dividend of $0.79. The ex-dividend date is Friday, December 20th. Ferguson’s dividend payout ratio is presently 39.86%.

Insider Buying and Selling

In other news, CMO Victoria Morrissey sold 1,468 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.20, for a total value of $295,361.60. Following the completion of the sale, the chief marketing officer now owns 5,205 shares in the company, valued at approximately $1,047,246. The trade was a 22.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Garland Williams sold 1,118 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $201.22, for a total value of $224,963.96. Following the sale, the senior vice president now owns 1,882 shares of the company’s stock, valued at approximately $378,696.04. This represents a 37.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 12,313 shares of company stock valued at $2,477,901. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Ferguson

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its position in shares of Ferguson by 375.4% during the second quarter. Bank of New York Mellon Corp now owns 6,289,864 shares of the company’s stock valued at $1,218,032,000 after buying an additional 4,966,821 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Ferguson by 423.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,462,836 shares of the company’s stock worth $290,475,000 after acquiring an additional 1,183,143 shares in the last quarter. Southpoint Capital Advisors LP lifted its position in Ferguson by 133.3% during the third quarter. Southpoint Capital Advisors LP now owns 700,000 shares of the company’s stock valued at $138,999,000 after acquiring an additional 400,000 shares during the last quarter. Barclays PLC boosted its stake in Ferguson by 76.9% in the third quarter. Barclays PLC now owns 867,593 shares of the company’s stock valued at $172,281,000 after acquiring an additional 377,283 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Ferguson in the third quarter worth $63,420,000. 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.