Ferguson (NASDAQ:FERG) Given New $190.00 Price Target at Barclays

Ferguson (NASDAQ:FERG) had its price objective trimmed by Barclays from $211.00 to $190.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

FERG has been the subject of several other reports. Morgan Stanley assumed coverage on Ferguson in a report on Monday, February 3rd. They issued an “overweight” rating and a $204.00 target price for the company. Robert W. Baird set a $190.00 target price on Ferguson and gave the company an “outperform” rating in a report on Wednesday. Wells Fargo & Company reduced their target price on Ferguson from $215.00 to $205.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Citigroup reduced their target price on Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, Zelman & Associates downgraded Ferguson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 17th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $201.64.

Ferguson Trading Down 0.7 %

NASDAQ:FERG opened at $155.94 on Wednesday. The stock has a 50-day simple moving average of $176.55 and a 200-day simple moving average of $190.86. The stock has a market cap of $31.18 billion, a P/E ratio of 18.72, a P/E/G ratio of 1.69 and a beta of 1.28. Ferguson has a 1 year low of $154.09 and a 1 year high of $225.63. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68.

Ferguson (NASDAQ:FERG) last released its quarterly earnings data on Tuesday, March 11th. The company reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.06). Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same period in the prior year, the company posted $1.74 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts anticipate that Ferguson will post 9.4 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, March 21st will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, March 21st. Ferguson’s dividend payout ratio (DPR) is 39.86%.

Hedge Funds Weigh In On Ferguson

A number of large investors have recently modified their holdings of FERG. Manchester Capital Management LLC raised its stake in shares of Ferguson by 906.7% during the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock worth $26,000 after buying an additional 136 shares in the last quarter. True Wealth Design LLC raised its stake 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. LGT Financial Advisors LLC grew its holdings in shares of Ferguson by 106.3% in the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company’s stock worth $34,000 after acquiring an additional 102 shares during the period. Berbice Capital Management LLC acquired a new stake in shares of Ferguson in the 4th quarter worth approximately $35,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Ferguson in the 3rd quarter worth approximately $39,000. 81.98% of the stock is owned by hedge funds and other institutional investors.

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.