Barclays Issues Pessimistic Forecast for Ferguson (NASDAQ:FERG) Stock Price

Ferguson (NASDAQ:FERG) had its price target lowered by Barclays from $234.00 to $211.00 in a report issued on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

FERG has been the subject of a number of other reports. Royal Bank of Canada restated an “outperform” rating and set a $219.00 price objective on shares of Ferguson in a research report on Wednesday, December 11th. Wells Fargo & Company reduced their price target on shares of Ferguson from $220.00 to $215.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Robert W. Baird lowered their price objective on Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. UBS Group reiterated a “neutral” rating and set a $193.00 price objective (down from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Finally, Oppenheimer began coverage on Ferguson in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and a consensus price target of $220.10.

Ferguson Trading Up 0.8 %

Shares of FERG stock opened at $176.66 on Thursday. Ferguson has a 1-year low of $167.27 and a 1-year high of $225.63. The company has a market cap of $35.32 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 1.60 and a beta of 1.24. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The stock has a 50 day simple moving average of $192.86 and a 200-day simple moving average of $198.36.

Ferguson Increases Dividend

The business 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 dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, December 20th. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s payout ratio is currently 39.86%.

Institutional Investors Weigh In On Ferguson

Hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its holdings in Ferguson by 0.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 45,652 shares of the company’s stock valued at $8,841,000 after purchasing an additional 212 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Ferguson by 4.2% in the second quarter. Mercer Global Advisors Inc. ADV now owns 46,385 shares of the company’s stock valued at $8,982,000 after acquiring an additional 1,878 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Ferguson by 3.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,931 shares of the company’s stock valued at $4,391,000 after acquiring an additional 674 shares during the last quarter. Blair William & Co. IL grew its position in Ferguson by 9.7% in the second quarter. Blair William & Co. IL now owns 81,069 shares of the company’s stock worth $15,699,000 after acquiring an additional 7,193 shares during the period. Finally, Elo Mutual Pension Insurance Co acquired a new stake in Ferguson during the second quarter worth $3,365,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Company Profile

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.