Brokerages Set Ferguson plc (NASDAQ:FERG) PT at $222.40

Ferguson plc (NASDAQ:FERG) has been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $220.10.

FERG has been the topic of several recent analyst reports. Oppenheimer assumed coverage on Ferguson in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price objective for the company. Citigroup decreased their price objective on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Bank of America upgraded shares of Ferguson from an “underperform” rating to a “buy” rating and raised their target price for the stock from $185.00 to $225.00 in a report on Wednesday, January 8th. Barclays cut their target price on shares of Ferguson from $234.00 to $211.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, UBS Group restated a “neutral” rating and issued a $193.00 price target (down from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th.

Ferguson Price Performance

FERG opened at $177.50 on Wednesday. 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 has a market cap of $35.49 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 1.60 and a beta of 1.24. The stock has a fifty day simple moving average of $191.58 and a two-hundred day simple moving average of $198.23. Ferguson has a 12-month low of $167.27 and a 12-month 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 paid a dividend of $0.83 per share. The ex-dividend date is Friday, December 20th. 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 1.87%. Ferguson’s payout ratio is 39.86%.

Hedge Funds Weigh In On Ferguson

Hedge funds have recently made changes to their positions in the stock. Asset Dedication LLC acquired a new position in shares of Ferguson during the third quarter worth about $27,000. True Wealth Design LLC grew its holdings 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 in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Ferguson in the 3rd quarter valued at approximately $37,000. Peterson Financial Group Inc. acquired a new stake in shares of Ferguson in the 3rd quarter valued at $39,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of Ferguson during the 3rd quarter worth $40,000. 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.