Ferguson (NYSE:FERG) Price Target Raised to $288.00

Ferguson (NYSE:FERG) had its target price upped by Robert W. Baird from $285.00 to $288.00 in a report released on Tuesday morning, MarketBeat Ratings reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other analysts have also recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group downgraded shares of Ferguson from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $315.00 to $265.00 in a report on Monday, July 6th. Citigroup reiterated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Barclays raised their price target on Ferguson from $297.00 to $313.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Zelman & Associates upgraded Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price objective on the stock in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $284.86.

Ferguson Trading Up 1.2%

Shares of NYSE:FERG opened at $248.20 on Tuesday. The stock has a 50 day moving average of $235.38 and a 200 day moving average of $240.83. The company has a market cap of $48.01 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 1.72 and a beta of 1.14. Ferguson has a 12-month low of $207.64 and a 12-month high of $271.64. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68.

Ferguson (NYSE:FERG) last released its earnings results on Monday, August 10th. The company reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.16. Ferguson had a net margin of 6.82% and a return on equity of 37.68%. The company had revenue of $8.75 billion for the quarter. As a group, equities research analysts expect that Ferguson will post 11.35 EPS for the current year.

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Friday, August 21st will be given a dividend of $0.89 per share. The ex-dividend date is Friday, August 21st. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.4%. Ferguson’s dividend payout ratio is currently 41.40%.

Ferguson declared that its Board of Directors has authorized a share buyback program on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Ferguson

A number of institutional investors and hedge funds have recently bought and sold shares of FERG. Simplicity Wealth LLC boosted its holdings in shares of Ferguson by 1.6% during the 4th quarter. Simplicity Wealth LLC now owns 3,132 shares of the company’s stock valued at $697,000 after purchasing an additional 48 shares during the last quarter. Sivia Capital Partners LLC lifted its position in shares of Ferguson by 2.9% in the fourth quarter. Sivia Capital Partners LLC now owns 1,685 shares of the company’s stock worth $375,000 after buying an additional 48 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Ferguson by 7.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock valued at $150,000 after buying an additional 48 shares during the last quarter. REAP Financial Group LLC boosted its stake in Ferguson by 13.4% during the fourth quarter. REAP Financial Group LLC now owns 431 shares of the company’s stock valued at $96,000 after buying an additional 51 shares during the last quarter. Finally, L2 Asset Management LLC grew its holdings in Ferguson by 5.2% during the 2nd quarter. L2 Asset Management LLC now owns 1,109 shares of the company’s stock valued at $263,000 after buying an additional 55 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors.

Key Ferguson News

Here are the key news stories impacting Ferguson this week:

• Positive Sentiment: Higher price target: Robert W. Baird raised its price target for Ferguson to $288, implying meaningful upside from the stock’s recent trading level and reinforcing investor optimism. Robert W. Baird Boosts Ferguson Price Target to $288
• Positive Sentiment: Constructive analyst sentiment: Ferguson received an average “Moderate Buy” rating, while a Wells Fargo analyst said the stock is expected to rise. The recommendations may support buying interest, although they do not represent a new operating forecast from the company. Ferguson Receives Moderate Buy Recommendation Wells Fargo Analyst Expects Ferguson Stock to Rise
• Positive Sentiment: New Tampa location: Ferguson selected Gasworx in Ybor City for a new Tampa location, indicating continued investment in its physical distribution footprint. The announcement is modestly positive but contains limited financial detail. Ferguson Selects Gasworx for New Tampa Location
• Neutral Sentiment: Articles about Rams tight end Terrance Ferguson, a Ferguson-related climate-data correction, the Ferguson Center’s Broadway season, Spokane Gov. Ferguson, and Ferguson, Missouri, local news concern unrelated entities and are not expected to affect Ferguson plc (NYSE:FERG).

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.