Ferguson (NASDAQ:FERG) Price Target Cut to $189.00 by Analysts at Citigroup

Ferguson (NASDAQ:FERG) had its price objective trimmed by Citigroup from $221.00 to $189.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts have also issued reports on the company. Berenberg Bank increased their target price on Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Wells Fargo & Company decreased their price objective on Ferguson from $220.00 to $215.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Barclays dropped their target price on shares of Ferguson from $245.00 to $234.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $219.00 price target on shares of Ferguson in a research note on Wednesday, December 11th. Finally, Oppenheimer initiated coverage on shares of Ferguson in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price objective on the stock. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Ferguson has an average rating of “Moderate Buy” and an average target price of $226.89.

Ferguson Price Performance

Shares of NASDAQ FERG opened at $173.89 on Monday. Ferguson has a 1 year low of $171.68 and a 1 year high of $225.63. The stock has a market capitalization of $34.77 billion, a P/E ratio of 20.88, a P/E/G ratio of 1.90 and a beta of 1.24. The company’s 50-day moving average is $196.67 and its 200 day moving average is $199.43. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00.

Ferguson Increases Dividend

The company 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 dividend of $0.83 per share. This is a boost from Ferguson’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Friday, December 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.91%. Ferguson’s dividend payout ratio is presently 39.86%.

Insider Activity at Ferguson

In other news, CAO Richard Winckler sold 1,325 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.75, for a total transaction of $267,318.75. Following the completion of the transaction, the chief accounting officer now directly owns 1,000 shares of the company’s stock, valued at $201,750. The trade was a 56.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Garland Williams sold 1,118 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $201.22, for a total transaction of $224,963.96. Following the completion of the sale, the senior vice president now owns 1,882 shares in the company, valued at $378,696.04. This represents a 37.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,313 shares of company stock valued at $2,477,901 over the last 90 days. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Ferguson

A number of hedge funds have recently added to or reduced their stakes in the stock. Frank Rimerman Advisors LLC grew its holdings in shares of Ferguson by 1.8% in the third quarter. Frank Rimerman Advisors LLC now owns 3,307 shares of the company’s stock worth $657,000 after acquiring an additional 57 shares during the period. Transatlantique Private Wealth LLC grew its stake in shares of Ferguson by 3.0% during the 2nd quarter. Transatlantique Private Wealth LLC now owns 2,035 shares of the company’s stock valued at $394,000 after purchasing an additional 60 shares during the period. Mayflower Financial Advisors LLC increased its position in shares of Ferguson by 3.2% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 1,952 shares of the company’s stock valued at $388,000 after purchasing an additional 61 shares during the last quarter. Farther Finance Advisors LLC lifted its stake 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. Finally, Commerce Bank boosted its holdings in shares of Ferguson by 3.8% in the third quarter. Commerce Bank now owns 2,666 shares of the company’s stock worth $529,000 after buying an additional 97 shares during the last quarter. 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.