Ferguson plc (NASDAQ:FERG) Receives $217.73 Consensus Price Target from Brokerages

Ferguson plc (NASDAQ:FERG) has been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $217.73.

FERG has been the topic of a number of recent research reports. Berenberg Bank increased their target price on Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Bank of America raised Ferguson from an “underperform” rating to a “buy” rating and increased their price objective for the company from $185.00 to $225.00 in a research report on Wednesday, January 8th. UBS Group reaffirmed a “neutral” rating and set a $193.00 price objective (down from $230.00) on shares of Ferguson in a research report on Wednesday, January 8th. Zelman & Associates downgraded Ferguson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 17th. Finally, Citigroup decreased their price objective on Ferguson from $221.00 to $189.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th.

Ferguson Price Performance

Shares of FERG stock opened at $168.15 on Thursday. The stock has a market cap of $33.62 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 1.69 and a beta of 1.28. The business’s fifty day moving average is $177.38 and its 200 day moving average is $191.95. Ferguson has a twelve month low of $163.01 and a twelve month high of $225.63. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83.

Ferguson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Friday, December 20th were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s dividend payout ratio (DPR) is currently 39.86%.

Hedge Funds Weigh In On Ferguson

Several institutional investors have recently added to or reduced their stakes in FERG. US Bancorp DE grew its holdings in Ferguson by 25.0% during the 3rd quarter. US Bancorp DE now owns 7,190 shares of the company’s stock valued at $1,428,000 after buying an additional 1,440 shares in the last quarter. Stephens Inc. AR purchased a new position in Ferguson during the 3rd quarter valued at approximately $234,000. Farther Finance Advisors LLC boosted its holdings in shares of Ferguson by 33.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 364 shares of the company’s stock worth $72,000 after purchasing an additional 92 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Ferguson by 17.8% in the 3rd quarter. Van ECK Associates Corp now owns 44,839 shares of the company’s stock worth $8,765,000 after purchasing an additional 6,767 shares during the period. Finally, Amalgamated Bank boosted its holdings in shares of Ferguson by 72.2% in the 3rd quarter. Amalgamated Bank now owns 19,382 shares of the company’s stock worth $3,849,000 after purchasing an additional 8,124 shares during the period. 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.