Wells Fargo & Company Issues Pessimistic Forecast for Ferguson (NASDAQ:FERG) Stock Price

Ferguson (NASDAQ:FERG) had its price target reduced by Wells Fargo & Company from $215.00 to $205.00 in a research note released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

FERG has been the subject of several other research reports. Oppenheimer began coverage on shares of Ferguson in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price target for the company. Berenberg Bank lifted their price target on shares of Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Robert W. Baird lowered their price target on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. Citigroup decreased their price objective on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, Morgan Stanley assumed coverage on shares of Ferguson in a report on Monday. They set an “overweight” rating and a $204.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ferguson has an average rating of “Moderate Buy” and an average target price of $217.73.

Ferguson Stock Down 2.4 %

Shares of NASDAQ:FERG opened at $179.51 on Tuesday. Ferguson has a one year low of $167.27 and a one year high of $225.63. The company has a 50 day moving average of $185.73 and a 200-day moving average of $196.68. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The stock has a market cap of $35.89 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 1.71 and a beta of 1.24.

Ferguson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Friday, December 20th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Friday, December 20th. This is a boost from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s dividend payout ratio is 39.86%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FERG. Manchester Capital Management LLC boosted its holdings in shares of Ferguson by 906.7% in the fourth quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock valued at $26,000 after buying an additional 136 shares during the period. Asset Dedication LLC acquired a new position in shares of Ferguson in the third quarter valued at approximately $27,000. True Wealth Design LLC boosted its holdings in shares of Ferguson by 1,350.0% in the third quarter. True Wealth Design LLC now owns 145 shares of the company’s stock valued at $29,000 after buying an additional 135 shares during the period. Berbice Capital Management LLC acquired a new position in shares of Ferguson in the fourth quarter valued at approximately $35,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Ferguson in the third quarter worth $37,000. Institutional investors and hedge funds 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.