Wells Fargo & Company Cuts Ferguson (NASDAQ:FERG) Price Target to $205.00

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

Other equities analysts have also recently issued research reports about the company. Berenberg Bank boosted their price objective on Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Robert W. Baird lowered their target price on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Morgan Stanley started coverage on shares of Ferguson in a research note on Monday. They issued an “overweight” rating and a $204.00 price target on the stock. Barclays lowered their price objective on shares of Ferguson from $234.00 to $211.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Finally, UBS Group reaffirmed a “neutral” rating and set a $193.00 target price (down from $230.00) on shares of Ferguson in a research report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $217.73.

Ferguson Stock Down 0.5 %

Shares of NASDAQ FERG opened at $182.08 on Tuesday. Ferguson has a 1 year low of $167.27 and a 1 year high of $225.63. The firm has a 50-day simple moving average of $184.51 and a two-hundred day simple moving average of $196.49. The company has a market cap of $36.41 billion, a P/E ratio of 21.86, a PEG ratio of 1.71 and a beta of 1.24. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91.

Ferguson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Friday, December 20th were given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.82%. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. The ex-dividend date was Friday, December 20th. Ferguson’s payout ratio is presently 39.86%.

Institutional Investors Weigh In On Ferguson

Institutional investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 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 worth $290,475,000 after purchasing an additional 1,183,143 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of Ferguson by 339.9% in the 4th quarter. Vontobel Holding Ltd. now owns 1,234,776 shares of the company’s stock worth $214,320,000 after buying an additional 954,092 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Ferguson by 7,632.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 677,684 shares of the company’s stock worth $117,626,000 after acquiring an additional 668,920 shares in the last quarter. Cantillon Capital Management LLC lifted its position in Ferguson by 24.5% during the fourth quarter. Cantillon Capital Management LLC now owns 2,111,673 shares of the company’s stock valued at $366,523,000 after acquiring an additional 415,002 shares during the last quarter. Finally, Southpoint Capital Advisors LP lifted its position in 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 during the last quarter. Institutional investors own 81.98% of the company’s stock.

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.