Wells Fargo & Company Issues Pessimistic Forecast for Ferguson (NASDAQ:FERG) Stock Price

Ferguson (NASDAQ:FERG) had its price target reduced by Wells Fargo & Company from $215.00 to $205.00 in a research note issued to investors on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on FERG. Oppenheimer assumed coverage on Ferguson in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 target price for the company. Barclays reduced their price objective on Ferguson from $234.00 to $211.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Zelman & Associates lowered Ferguson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 17th. Berenberg Bank raised their price target on shares of Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Citigroup decreased their price objective on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $217.73.

Ferguson Trading Down 0.5 %

NASDAQ FERG opened at $182.08 on Tuesday. Ferguson has a 12-month low of $167.27 and a 12-month high of $225.63. The company has a fifty day simple moving average of $184.51 and a two-hundred day simple moving average of $196.49. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The stock has a market cap of $36.41 billion, a P/E ratio of 21.86, a P/E/G ratio of 1.71 and a beta of 1.24.

Ferguson Increases Dividend

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

Hedge Funds Weigh In On Ferguson

A number of hedge funds have recently bought and sold shares of FERG. Asset Dedication LLC purchased a new stake in shares of Ferguson in the third quarter valued at approximately $27,000. True Wealth Design LLC grew its stake in Ferguson by 1,350.0% in the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock valued at $29,000 after acquiring an additional 135 shares during the period. Manchester Capital Management LLC increased its holdings in Ferguson by 906.7% in the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock worth $26,000 after acquiring an additional 136 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Ferguson during the third quarter worth $37,000. Finally, Peterson Financial Group Inc. purchased a new position in Ferguson during the third quarter valued at $39,000. Hedge funds and other 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.