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

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

Analyst Ratings Changes

FERG has been the topic of a number of recent research reports. UBS Group reaffirmed a “neutral” rating and set a $193.00 price objective (down previously from $230.00) on shares of Ferguson in a research report on Wednesday, January 8th. Robert W. Baird dropped their price objective on Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Oppenheimer began coverage on Ferguson in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price target for the company. 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 research note on Wednesday, January 8th. Finally, Citigroup decreased their price target on Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and an average price target of $222.40.

Ferguson Stock Performance

The stock has a market capitalization of $35.13 billion, a PE ratio of 21.09, a PEG ratio of 1.90 and a beta of 1.24. 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 firm has a 50 day moving average price of $193.57 and a 200-day moving average price of $198.52.

Ferguson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Friday, December 20th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.89%. This is a boost from Ferguson’s previous quarterly dividend of $0.79. The ex-dividend date is Friday, December 20th. Ferguson’s dividend payout ratio (DPR) is presently 39.86%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FERG. BOKF NA raised its position in Ferguson by 236.7% during the second quarter. BOKF NA now owns 1,899 shares of the company’s stock valued at $368,000 after acquiring an additional 1,335 shares in the last quarter. Parallel Advisors LLC raised its position in Ferguson by 9.2% during the second quarter. Parallel Advisors LLC now owns 2,132 shares of the company’s stock valued at $413,000 after acquiring an additional 180 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Ferguson by 38.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 22,686 shares of the company’s stock valued at $4,393,000 after acquiring an additional 6,255 shares in the last quarter. Rathbones Group PLC raised its position in Ferguson by 7.5% during the second quarter. Rathbones Group PLC now owns 6,580 shares of the company’s stock valued at $1,274,000 after acquiring an additional 461 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Ferguson by 0.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 45,652 shares of the company’s stock valued at $8,841,000 after acquiring an additional 212 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

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.