Ferguson (NASDAQ:FERG) PT Lowered to $225.00 at Wells Fargo & Company

Ferguson (NASDAQ:FERG) had its price target decreased by Wells Fargo & Company from $250.00 to $225.00 in a report released on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on FERG. UBS Group lifted their price target on Ferguson from $228.00 to $236.00 and gave the stock a buy rating in a research note on Wednesday. Barclays lifted their price target on Ferguson from $229.00 to $245.00 and gave the stock an overweight rating in a research note on Wednesday. Royal Bank of Canada lifted their price objective on Ferguson from $211.00 to $219.00 and gave the stock an outperform rating in a research report on Wednesday. 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. Finally, Robert W. Baird lifted their price objective on Ferguson from $222.00 to $225.00 and gave the stock an outperform rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Ferguson has a consensus rating of Moderate Buy and a consensus target price of $231.57.

Ferguson Stock Performance

Shares of NASDAQ:FERG opened at $196.52 on Wednesday. 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 business’s 50 day moving average price is $204.88 and its 200-day moving average price is $206.95. The firm has a market capitalization of $39.69 billion, a PE ratio of 21.48, a P/E/G ratio of 6.13 and a beta of 1.21. Ferguson has a 1 year low of $147.62 and a 1 year high of $225.63.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12. The firm had revenue of $7.95 billion for the quarter, compared to analyst estimates of $8.01 billion. Ferguson had a return on equity of 36.89% and a net margin of 6.33%. The business’s revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.77 earnings per share. As a group, equities research analysts expect that Ferguson will post 9.63 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.16 annualized dividend and a dividend yield of 1.61%. Ferguson’s dividend payout ratio is presently 34.54%.

Ferguson announced that its board has initiated a stock buyback plan on Tuesday, June 4th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Ferguson

Institutional investors and hedge funds have recently modified their holdings of the company. Richardson Financial Services Inc. purchased a new stake in shares of Ferguson in the 4th quarter valued at $25,000. EdgeRock Capital LLC acquired a new position in Ferguson during the 2nd quarter worth $32,000. MCF Advisors LLC acquired a new position in Ferguson during the 1st quarter worth $47,000. Brown Brothers Harriman & Co. grew its stake in Ferguson by 538.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 402 shares of the company’s stock worth $78,000 after purchasing an additional 339 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in Ferguson by 2,462.5% during the 2nd quarter. Versant Capital Management Inc now owns 410 shares of the company’s stock worth $79,000 after purchasing an additional 394 shares in the last quarter. 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.