Ferguson (NASDAQ:FERG) Hits New 52-Week Low After Analyst Downgrade

Ferguson plc (NASDAQ:FERG) shares reached a new 52-week low during trading on Tuesday after Citigroup lowered their price target on the stock from $221.00 to $189.00. Citigroup currently has a neutral rating on the stock. Ferguson traded as low as $171.46 and last traded at $172.70, with a volume of 220820 shares trading hands. The stock had previously closed at $174.18.

A number of other research analysts have also recently commented on the stock. Barclays reduced their price target on shares of Ferguson from $245.00 to $234.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Oppenheimer started coverage on shares of Ferguson in a report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 target price on the stock. Wells Fargo & Company lowered their price target on shares of Ferguson from $220.00 to $215.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Robert W. Baird reduced their price objective on Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $219.00 target price on shares of Ferguson in a research note on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $226.89.

Insider Activity

In other Ferguson news, CMO Victoria Morrissey sold 1,468 shares of Ferguson stock in a transaction that occurred 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 completion of the sale, the chief marketing officer now owns 5,205 shares of the company’s stock, 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 is accessible through this hyperlink. Also, CAO Richard Winckler sold 1,325 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $201.75, for a total value of $267,318.75. Following the transaction, the chief accounting officer now directly owns 1,000 shares in the company, valued at $201,750. The trade was a 56.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,313 shares of company stock valued at $2,477,901 over the last ninety days. 0.16% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Asset Dedication LLC bought a new position in shares of Ferguson in the third quarter worth about $27,000. True Wealth Design LLC raised its stake in Ferguson by 1,350.0% during the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after acquiring an additional 135 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Ferguson in the third quarter worth approximately $37,000. Peterson Financial Group Inc. purchased a new stake in shares of Ferguson in the third quarter worth $39,000. Finally, Reston Wealth Management LLC bought a new stake in shares of Ferguson during the 3rd quarter valued at $40,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

The company has a quick ratio of 1.00, a current ratio of 1.80 and a debt-to-equity ratio of 0.89. The business has a 50 day moving average price of $196.67 and a two-hundred day moving average price of $199.43. The stock has a market cap of $34.46 billion, a P/E ratio of 20.69, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24.

Ferguson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Friday, December 20th will be issued a $0.83 dividend. This is an increase from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Friday, December 20th. Ferguson’s payout ratio is currently 39.86%.

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.