Ferguson (NASDAQ:FERG) Price Target Lowered to $211.00 at Barclays

Ferguson (NASDAQ:FERG - Free Report) had its price objective trimmed by Barclays from $234.00 to $211.00 in a report published on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

FERG has been the topic of several other reports. Citigroup lowered their price objective on Ferguson from $221.00 to $189.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Oppenheimer initiated coverage on Ferguson in a report on Wednesday, October 23rd. They issued an "outperform" rating and a $234.00 price target on the stock. Royal Bank of Canada restated an "outperform" rating and issued a $219.00 price target on shares of Ferguson in a research note on Wednesday, December 11th. Bank of America upgraded shares of Ferguson from an "underperform" rating to a "buy" rating and lifted their price objective for the company from $185.00 to $225.00 in a research report on Wednesday, January 8th. Finally, UBS Group restated a "neutral" rating and set a $193.00 target price (down previously from $230.00) on shares of Ferguson in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $220.10.

Ferguson Price Performance

Shares of FERG traded up $1.05 during trading hours on Thursday, reaching $177.50. 1,447,485 shares of the stock traded hands, compared to its average volume of 1,454,299. The company has a market cap of $35.49 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 1.60 and a beta of 1.24. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The company's 50-day moving average price is $192.18 and its two-hundred day moving average price is $198.21. Ferguson has a 52-week low of $167.27 and a 52-week high of $225.63.

Ferguson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Friday, December 20th will be paid a $0.83 dividend. This is a boost from Ferguson's previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Friday, December 20th. Ferguson's dividend payout ratio (DPR) is presently 39.86%.

Institutional Trading of Ferguson

Several hedge funds have recently made changes to their positions in the business. Frank Rimerman Advisors LLC grew its position in Ferguson by 1.8% in the third quarter. Frank Rimerman Advisors LLC now owns 3,307 shares of the company's stock worth $657,000 after acquiring an additional 57 shares in the last quarter. Transatlantique Private Wealth LLC boosted its holdings in shares of Ferguson by 3.0% in the 2nd quarter. Transatlantique Private Wealth LLC now owns 2,035 shares of the company's stock worth $394,000 after purchasing an additional 60 shares during the period. Mayflower Financial Advisors LLC increased its position in shares of Ferguson by 3.2% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 1,952 shares of the company's stock valued at $388,000 after purchasing an additional 61 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Ferguson by 0.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,834 shares of the company's stock valued at $4,137,000 after buying an additional 86 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in Ferguson by 33.8% in the third quarter. Farther Finance Advisors LLC now owns 364 shares of the company's stock worth $72,000 after buying an additional 92 shares during the last quarter. 81.98% of the stock is currently 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.