Ferguson (NASDAQ:FERG) Sets New 1-Year Low – What’s Next?

Ferguson plc (NASDAQ:FERG) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $168.15 and last traded at $168.15, with a volume of 21914 shares. The stock had previously closed at $169.75.

Analysts Set New Price Targets

Several analysts have recently issued reports on FERG shares. Oppenheimer began coverage on Ferguson in a report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price objective on the stock. UBS Group restated a “neutral” rating and set a $193.00 price target (down previously from $230.00) on shares of Ferguson in a report on Wednesday, January 8th. Wells Fargo & Company decreased their price target on Ferguson from $220.00 to $215.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Barclays decreased their price target on Ferguson from $245.00 to $234.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. Finally, Bank of America upgraded Ferguson from an “underperform” rating to a “buy” rating and increased their price target for the company from $185.00 to $225.00 in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $222.40.

Ferguson Stock Performance

The company has a quick ratio of 1.00, a current ratio of 1.80 and a debt-to-equity ratio of 0.89. The business has a 50 day simple moving average of $193.57 and a two-hundred day simple moving average of $198.52. The firm has a market cap of $35.13 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24.

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 given a dividend of $0.83 per share. This is an increase from Ferguson’s previous quarterly dividend of $0.79. The ex-dividend date is Friday, December 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.89%. Ferguson’s dividend payout ratio is presently 39.86%.

Hedge Funds Weigh In On Ferguson

Hedge funds and other institutional investors have recently made changes to their positions in the company. Asset Dedication LLC bought a new position in shares of Ferguson during the 3rd quarter worth $27,000. True Wealth Design LLC grew its position in shares of Ferguson by 1,350.0% during the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after buying an additional 135 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Ferguson during the 3rd quarter worth $37,000. Peterson Financial Group Inc. bought a new position in shares of Ferguson during the 3rd quarter worth $39,000. Finally, Reston Wealth Management LLC bought a new stake in Ferguson during the third quarter valued at about $40,000. 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.