Ferguson (NASDAQ:FERG) Sees Strong Trading Volume

Ferguson plc (NASDAQ:FERG) shares saw unusually-high trading volume on Tuesday . Approximately 2,927,230 shares were traded during trading, an increase of 157% from the previous session’s volume of 1,137,913 shares.The stock last traded at $188.32 and had previously closed at $185.87.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Jefferies Financial Group lifted their price objective on Ferguson from $238.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Royal Bank of Canada lowered their price target on shares of Ferguson from $217.00 to $211.00 and set an “outperform” rating for the company in a report on Wednesday, June 5th. Finally, Barclays reduced their price objective on shares of Ferguson from $232.00 to $229.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $230.00.

Ferguson Price Performance

The company has a 50-day moving average of $203.83 and a two-hundred day moving average of $207.66. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94. The stock has a market capitalization of $38.30 billion, a PE ratio of 20.06, a P/E/G ratio of 5.75 and a beta of 1.21.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Daiwa Securities Group Inc. increased its position in Ferguson by 80.1% during the first quarter. Daiwa Securities Group Inc. now owns 32,811 shares of the company’s stock worth $7,166,000 after purchasing an additional 14,590 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Ferguson by 14.5% during the 1st quarter. Meeder Asset Management Inc. now owns 75,505 shares of the company’s stock worth $16,493,000 after buying an additional 9,562 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Ferguson in the 2nd quarter worth $2,834,000. Lighthouse Investment Partners LLC boosted its holdings in Ferguson by 20.8% in the fourth quarter. Lighthouse Investment Partners LLC now owns 60,406 shares of the company’s stock valued at $11,663,000 after acquiring an additional 10,406 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Ferguson during the fourth quarter valued at about $732,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

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.