Ferguson (NYSE:FERG) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Ferguson (NYSE:FERG) from a buy rating to a hold rating in a research report released on Saturday morning.

FERG has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Ferguson from $237.00 to $246.00 and gave the company a “hold” rating in a research report on Thursday, December 11th. Truist Financial boosted their price target on Ferguson from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Oppenheimer upped their target price on Ferguson from $235.00 to $255.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. UBS Group dropped their target price on shares of Ferguson from $225.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, December 10th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Ferguson in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $252.31.

Ferguson Stock Up 4.0%

FERG opened at $238.54 on Friday. The stock has a fifty day moving average of $237.17 and a 200-day moving average of $232.05. The company has a market capitalization of $46.65 billion, a P/E ratio of 24.10, a P/E/G ratio of 1.96 and a beta of 1.18. Ferguson has a fifty-two week low of $146.00 and a fifty-two week high of $256.93. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88.

Ferguson (NYSE:FERG) last released its quarterly earnings results on Tuesday, December 9th. The company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.77 by $0.07. Ferguson had a net margin of 6.28% and a return on equity of 35.73%. The business had revenue of $8.17 billion for the quarter. During the same quarter last year, the company posted $2.45 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis.

Ferguson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, January 2nd will be paid a dividend of $0.89 per share. This is a boost from Ferguson’s previous quarterly dividend of $0.83. This represents a $3.56 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, January 2nd. Ferguson’s payout ratio is currently 35.96%.

Insider Transactions at Ferguson

In other news, insider Ian T. Graham sold 606 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $239.33, for a total transaction of $145,033.98. Following the transaction, the insider owned 7,714 shares in the company, valued at approximately $1,846,191.62. This represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $710,910.00. Following the completion of the sale, the insider directly owned 2,211 shares of the company’s stock, valued at $523,940.67. This trade represents a 57.57% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 29,264 shares of company stock valued at $6,853,349. 0.18% of the stock is owned by insiders.

Institutional Trading of Ferguson

Hedge funds and other institutional investors have recently bought and sold shares of the business. Central Pacific Bank Trust Division bought a new position in shares of Ferguson in the fourth quarter valued at $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Ferguson in the 3rd quarter worth about $28,000. Cornerstone Planning Group LLC lifted 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. True Wealth Design LLC boosted its stake in Ferguson by 145.3% during the 2nd quarter. True Wealth Design LLC now owns 130 shares of the company’s stock valued at $28,000 after purchasing an additional 77 shares during the last quarter. Finally, Grove Bank & Trust increased its holdings in Ferguson by 154.4% during the 4th quarter. Grove Bank & Trust now owns 145 shares of the company’s stock worth $32,000 after purchasing an additional 88 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Company Profile

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.