Ferguson (NASDAQ:FERG) Sees Large Volume Increase

Ferguson plc (NASDAQ:FERG) shares saw unusually-high trading volume on Tuesday . Approximately 722,834 shares were traded during trading, a decline of 38% from the previous session’s volume of 1,162,598 shares.The stock last traded at $200.63 and had previously closed at $197.22.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FERG. Royal Bank of Canada dropped their target price on shares of Ferguson from $217.00 to $211.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 5th. Barclays cut their price objective on shares of Ferguson from $232.00 to $229.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Finally, Jefferies Financial Group boosted their target price on Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and an average target price of $230.00.

Ferguson Stock Performance

The stock has a market cap of $41.80 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 5.84 and a beta of 1.21. The company’s fifty day simple moving average is $203.96 and its two-hundred day simple moving average is $207.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94.

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

Institutional Investors Weigh In On Ferguson

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