Ferguson (NASDAQ:FERG) Price Target Lowered to $215.00 at Wells Fargo & Company

Ferguson (NASDAQ:FERG - Free Report) had its target price cut by Wells Fargo & Company from $220.00 to $215.00 in a report published on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts also recently issued reports on the stock. Robert W. Baird reduced their price target on shares of Ferguson from $230.00 to $225.00 and set an "outperform" rating for the company in a report on Wednesday, December 11th. UBS Group raised their target price on Ferguson from $228.00 to $236.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. Berenberg Bank increased their price target on Ferguson from $224.00 to $240.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. Barclays reduced their price objective on shares of Ferguson from $245.00 to $234.00 and set an "overweight" rating for the company in a report on Thursday, December 12th. Finally, Oppenheimer started coverage on shares of Ferguson in a research report on Wednesday, October 23rd. They set an "outperform" rating and a $234.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $230.44.

Ferguson Trading Down 0.3 %

FERG stock traded down $0.64 during midday trading on Tuesday, reaching $185.05. 2,062,515 shares of the company's stock traded hands, compared to its average volume of 1,317,408. The business has a 50-day moving average price of $203.36 and a two-hundred day moving average price of $202.00. The company has a market capitalization of $37.00 billion, a P/E ratio of 22.21, a PEG ratio of 1.90 and a beta of 1.21. Ferguson has a fifty-two week low of $183.49 and a fifty-two week high of $225.63. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00.

Ferguson (NASDAQ:FERG - Get Free Report) last released its earnings results on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, beating the consensus estimate of $2.86 by $0.12. The company had revenue of $7.95 billion during the quarter, compared to analysts' expectations of $8.01 billion. Ferguson had a return on equity of 34.85% and a net margin of 5.68%. The business's revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.77 EPS. Equities research analysts forecast that Ferguson will post 9.4 EPS for the current fiscal year.

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 paid a $0.83 dividend. This is a positive change from Ferguson's previous quarterly dividend of $0.79. The ex-dividend date is Friday, December 20th. This represents a $3.32 dividend on an annualized basis and a yield of 1.79%. Ferguson's dividend payout ratio (DPR) is currently 37.94%.

Insider Transactions at Ferguson

In other news, CMO Victoria Morrissey sold 1,468 shares of the company's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $201.20, for a total value of $295,361.60. Following the transaction, the chief marketing officer now directly owns 5,205 shares of the company's stock, valued at approximately $1,047,246. This represents a 22.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Michael Jacobs sold 2,624 shares of Ferguson stock in a transaction on Monday, October 14th. The shares were sold at an average price of $200.96, for a total value of $527,319.04. Following the sale, the vice president now directly owns 1,116 shares of the company's stock, valued at approximately $224,271.36. The trade was a 70.16 % decrease in their position. 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 over the last quarter. Company insiders own 0.16% of the company's stock.

Institutional Trading of Ferguson

Several large investors have recently made changes to their positions in FERG. Frank Rimerman Advisors LLC grew its holdings in Ferguson by 1.8% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 3,307 shares of the company's stock valued at $657,000 after buying an additional 57 shares during the last quarter. Transatlantique Private Wealth LLC grew its stake in shares of Ferguson by 3.0% in the second quarter. Transatlantique Private Wealth LLC now owns 2,035 shares of the company's stock worth $394,000 after acquiring an additional 60 shares during the last quarter. Mayflower Financial Advisors LLC raised its stake in 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. Farther Finance Advisors LLC boosted its holdings in Ferguson by 33.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 364 shares of the company's stock valued at $72,000 after purchasing an additional 92 shares during the period. Finally, Commerce Bank boosted its holdings in Ferguson by 3.8% in the 3rd quarter. Commerce Bank now owns 2,666 shares of the company's stock valued at $529,000 after purchasing an additional 97 shares during the period. 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.