Ferguson (NYSE:FERG) Research Coverage Started at Sanford C. Bernstein

Sanford C. Bernstein initiated coverage on shares of Ferguson (NYSE:FERG) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage issued an outperform rating and a $288.00 price objective on the stock.

FERG has been the topic of several other research reports. Wells Fargo & Company lifted their price objective on Ferguson from $250.00 to $275.00 and gave the stock an “overweight” rating in a report on Wednesday, September 17th. Vertical Research began coverage on shares of Ferguson in a research note on Monday, October 20th. They set a “buy” rating and a $291.99 price target on the stock. Truist Financial boosted their price target on shares of Ferguson from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. JPMorgan Chase & Co. increased their price objective on shares of Ferguson from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Finally, Oppenheimer lifted their target price on shares of Ferguson from $235.00 to $255.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $243.75.

Ferguson Price Performance

NYSE FERG opened at $242.38 on Wednesday. The stock has a fifty day moving average of $236.81. Ferguson has a 52-week low of $146.00 and a 52-week high of $256.93. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The firm has a market cap of $47.50 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 2.05 and a beta of 1.18.

Ferguson (NYSE:FERG) last released its earnings results on Tuesday, September 16th. The company reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.48. Ferguson had a net margin of 6.03% and a return on equity of 35.21%. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.44 billion.

Ferguson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Friday, September 26th were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, September 26th. Ferguson’s dividend payout ratio (DPR) is currently 35.55%.

Insider Transactions at Ferguson

In other news, insider James A. Paisley sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $236.97, for a total transaction of $710,910.00. Following the completion of the sale, the insider owned 2,211 shares of the company’s stock, valued at approximately $523,940.67. This trade represents a 57.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kevin Michael Murphy sold 8,800 shares of Ferguson stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $234.13, for a total transaction of $2,060,344.00. Following the completion of the transaction, the insider owned 159,931 shares of the company’s stock, valued at $37,444,645.03. This trade represents a 5.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 29,264 shares of company stock valued at $6,853,349. 0.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ferguson

A number of institutional investors and hedge funds have recently bought and sold shares of FERG. True Wealth Design LLC raised its holdings in shares of Ferguson by 145.3% in the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock valued at $28,000 after buying an additional 77 shares during the last quarter. Cornerstone Planning Group LLC increased its position in Ferguson by 178.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock valued at $31,000 after acquiring an additional 82 shares in the last quarter. Hemington Wealth Management increased its position in Ferguson by 51.5% in the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company’s stock valued at $33,000 after acquiring an additional 52 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of Ferguson in the third quarter worth about $34,000. Finally, Brooklyn Investment Group lifted its position in shares of Ferguson by 103.6% during the first quarter. Brooklyn Investment Group now owns 226 shares of the company’s stock worth $36,000 after purchasing an additional 115 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Company Profile

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.