Ferguson (NYSE:FERG) Stock Rated Hold in New Coverage at Melius Research

Melius Research assumed coverage on shares of Ferguson (NYSE:FERG) in a research note released on Tuesday, MarketBeat reports. The firm issued a hold rating and a $252.00 price objective on the stock.

FERG has been the subject of several other reports. Barclays raised their price objective on shares of Ferguson from $297.00 to $313.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Wells Fargo & Company upped their target price on Ferguson from $285.00 to $295.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Robert W. Baird increased their target price on Ferguson from $285.00 to $288.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Weiss Ratings reissued a “hold (c+)” rating on shares of Ferguson in a report on Tuesday, September 29th. Finally, The Goldman Sachs Group downgraded Ferguson from a “buy” rating to a “neutral” rating and reduced their price target for the company from $315.00 to $265.00 in a research note on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $283.07.

Ferguson Trading Up 0.6%

FERG stock opened at $216.27 on Tuesday. Ferguson has a one year low of $212.13 and a one year high of $271.64. The stock has a market cap of $41.84 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 1.49 and a beta of 1.14. The company has a fifty day moving average price of $231.22 and a two-hundred day moving average price of $234.62. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 0.93.

Ferguson (NYSE:FERG) last issued its quarterly earnings data on Monday, August 10th. The company reported $3.39 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.16. The company had revenue of $8.75 billion for the quarter. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. Equities analysts anticipate that Ferguson will post 11.42 EPS for the current year.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Friday, August 21st were issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, August 21st. Ferguson’s dividend payout ratio is 41.83%.

Insider Activity

In related news, insider Jake Schlicher sold 5,177 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $230.92, for a total transaction of $1,195,472.84. Following the sale, the insider owned 9,490 shares in the company, valued at approximately $2,191,430.80. This trade represents a 35.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FERG. Wedbush Securities Inc. raised its holdings in Ferguson by 4.3% during the second quarter. Wedbush Securities Inc. now owns 1,197 shares of the company’s stock valued at $284,000 after buying an additional 49 shares in the last quarter. L2 Asset Management LLC increased its holdings in shares of Ferguson by 5.2% during the 2nd quarter. L2 Asset Management LLC now owns 1,109 shares of the company’s stock valued at $263,000 after acquiring an additional 55 shares during the last quarter. Cidel Asset Management Inc. raised its stake in shares of Ferguson by 3.8% in the 2nd quarter. Cidel Asset Management Inc. now owns 1,541 shares of the company’s stock valued at $366,000 after acquiring an additional 56 shares in the last quarter. Natural Investments LLC raised its position in shares of Ferguson by 6.9% in the second quarter. Natural Investments LLC now owns 944 shares of the company’s stock valued at $224,000 after purchasing an additional 61 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Ferguson by 26.1% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 300 shares of the company’s stock worth $67,000 after buying an additional 62 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

About Ferguson

Ferguson plc (NYSE: FERG) is a North American distributor of plumbing and heating products, supplying professional customers across the residential, commercial, industrial and infrastructure markets. The company serves contractors, builders, remodelers, municipalities, industrial businesses and other trade professionals through branch locations, distribution centers and digital ordering platforms.

Its product offerings include plumbing supplies and fixtures, heating and cooling equipment, water and wastewater products, fire protection systems, waterworks materials, industrial piping and related maintenance, repair and operating supplies.