Ferguson (NASDAQ:FERG) Price Target Lowered to $205.00 at Wells Fargo & Company

Ferguson (NASDAQ:FERG - Free Report) had its target price cut by Wells Fargo & Company from $215.00 to $205.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also recently weighed in on the stock. UBS Group reaffirmed a "neutral" rating and set a $193.00 target price (down previously from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Morgan Stanley began coverage on Ferguson in a research report on Monday. They set an "overweight" rating and a $204.00 price objective on the stock. Zelman & Associates downgraded Ferguson from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 17th. Citigroup reduced their price target on Ferguson from $221.00 to $189.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Finally, Barclays dropped their price objective on shares of Ferguson from $234.00 to $211.00 and set an "overweight" rating for the company in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $217.73.

Ferguson Price Performance

Shares of FERG traded down $0.91 during mid-day trading on Tuesday, reaching $182.08. The company had a trading volume of 962,570 shares, compared to its average volume of 1,525,003. The company has a market capitalization of $36.41 billion, a price-to-earnings ratio of 21.86, a P/E/G ratio of 1.71 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. The company's 50 day simple moving average is $184.51 and its 200 day simple moving average is $196.49. Ferguson has a 1-year low of $167.27 and a 1-year high of $225.63.

Ferguson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Friday, December 20th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Friday, December 20th. This is an increase from Ferguson's previous quarterly dividend of $0.79. Ferguson's dividend payout ratio is currently 39.86%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in Ferguson by 22.0% in the second quarter. The Manufacturers Life Insurance Company now owns 5,343 shares of the company's stock valued at $1,034,000 after buying an additional 964 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Ferguson in the 2nd quarter worth about $976,000. AMF Tjanstepension AB acquired a new position in shares of Ferguson in the 3rd quarter valued at about $2,523,000. GAMMA Investing LLC boosted its position in shares of Ferguson by 30.2% during the 3rd quarter. GAMMA Investing LLC now owns 2,774 shares of the company's stock valued at $551,000 after purchasing an additional 644 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV grew its stake in Ferguson by 2.9% during the third quarter. Azzad Asset Management Inc. ADV now owns 6,592 shares of the company's stock worth $1,309,000 after purchasing an additional 186 shares during the period. Institutional investors and hedge funds 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.