Ferguson (NASDAQ:FERG) Hits New 1-Year Low Following Analyst Downgrade

Shares of Ferguson plc (NASDAQ:FERG) hit a new 52-week low during mid-day trading on Tuesday after Citigroup lowered their price target on the stock from $221.00 to $189.00. Citigroup currently has a neutral rating on the stock. Ferguson traded as low as $171.46 and last traded at $172.70, with a volume of 220820 shares changing hands. The stock had previously closed at $174.18.

Several other equities research analysts also recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $219.00 price target on shares of Ferguson in a report on Wednesday, December 11th. Oppenheimer assumed coverage on shares of Ferguson in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 target price for the company. Wells Fargo & Company dropped their price target on shares of Ferguson from $220.00 to $215.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Robert W. Baird reduced their price objective 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. Finally, UBS Group lifted their price objective on Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $226.89.

Insider Activity

In other news, VP Michael Jacobs sold 2,624 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $200.96, for a total value of $527,319.04. Following the sale, the vice president now directly owns 1,116 shares in the company, valued at $224,271.36. This represents a 70.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ian T. Graham sold 5,778 shares of Ferguson stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $201.27, for a total value of $1,162,938.06. Following the transaction, the insider now owns 5,938 shares of the company’s stock, valued at $1,195,141.26. This represents a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,313 shares of company stock worth $2,477,901 over the last 90 days. 0.16% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FERG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Ferguson by 423.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,462,836 shares of the company’s stock valued at $290,475,000 after purchasing an additional 1,183,143 shares during the period. Southpoint Capital Advisors LP grew its stake in shares of Ferguson by 133.3% during the third quarter. Southpoint Capital Advisors LP now owns 700,000 shares of the company’s stock valued at $138,999,000 after acquiring an additional 400,000 shares in the last quarter. Barclays PLC increased its position in shares of Ferguson by 76.9% during the third quarter. Barclays PLC now owns 867,593 shares of the company’s stock worth $172,281,000 after acquiring an additional 377,283 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in Ferguson in the third quarter valued at about $63,420,000. Finally, FMR LLC boosted its holdings in Ferguson by 3.5% in the third quarter. FMR LLC now owns 8,468,003 shares of the company’s stock valued at $1,668,462,000 after purchasing an additional 288,935 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Down 1.2 %

The firm has a fifty day simple moving average of $196.21 and a 200-day simple moving average of $199.26. The company has a market capitalization of $34.41 billion, a PE ratio of 20.66, a P/E/G ratio of 1.90 and a beta of 1.24. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.80.

Ferguson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Friday, December 20th will be issued a $0.83 dividend. The ex-dividend date is Friday, December 20th. This is a boost from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 annualized dividend and a yield of 1.93%. Ferguson’s dividend payout ratio is currently 39.86%.

About Ferguson

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.