Ferguson (NASDAQ:FERG) Price Target Raised to $273.00 at Barclays

Key Points

• Barclays has raised its price target for Ferguson (NASDAQ:FERG) from $247.00 to $273.00, indicating a potential upside of 21.46% based on the current stock price.
• Overall, ten investment analysts have rated Ferguson with a Buy, while six have given it a Hold rating, leading to an average rating of "Moderate Buy" with a consensus target price of $235.71.
• Ferguson's stock performance includes a current trading price of $224.77, with a P/E ratio of 26.98 and significant institutional backing, as 81.98% of the company is owned by hedge funds and institutional investors.

Ferguson (NASDAQ:FERG - Free Report) had its price target raised by Barclays from $247.00 to $273.00 in a research note published on Thursday morning, Marketbeat reports. Barclays currently has an overweight rating on the stock.

FERG has been the subject of a number of other reports. The Goldman Sachs Group started coverage on shares of Ferguson in a research report on Wednesday, June 18th. They set a "buy" rating and a $280.00 price target for the company. Robert W. Baird lifted their price objective on Ferguson from $260.00 to $262.00 and gave the stock an "outperform" rating in a research report on Wednesday. Truist Financial lifted their price objective on Ferguson from $240.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday. UBS Group lifted their price objective on Ferguson from $204.00 to $225.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Wells Fargo & Company lifted their target price on shares of Ferguson from $250.00 to $275.00 and gave the stock an "overweight" rating in a research note on Wednesday. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $235.71.

Ferguson Stock Performance

Shares of NASDAQ FERG traded up $0.13 during midday trading on Thursday, reaching $229.33. 2,885,933 shares of the company were exchanged, compared to its average volume of 1,770,834. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. Ferguson has a 1 year low of $146.00 and a 1 year high of $243.40. The stock has a fifty day simple moving average of $226.91 and a 200 day simple moving average of $198.30. The stock has a market cap of $45.22 billion, a P/E ratio of 27.53, a PEG ratio of 1.69 and a beta of 1.15.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, September 26th. Ferguson's dividend payout ratio (DPR) is presently 35.55%.

Institutional Investors Weigh In On Ferguson

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FERG. Smithfield Trust Co raised its holdings in Ferguson by 3.5% in the 2nd quarter. Smithfield Trust Co now owns 1,342 shares of the company's stock worth $291,000 after acquiring an additional 46 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Ferguson by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company's stock worth $150,000 after purchasing an additional 48 shares during the last quarter. Hemington Wealth Management boosted its position in shares of Ferguson by 51.5% during the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company's stock valued at $33,000 after acquiring an additional 52 shares in the last quarter. US Bancorp DE boosted its position in shares of Ferguson by 0.8% during the 1st quarter. US Bancorp DE now owns 7,394 shares of the company's stock valued at $1,185,000 after acquiring an additional 59 shares in the last quarter. Finally, Compound Planning Inc. boosted its position in shares of Ferguson by 4.6% during the 1st quarter. Compound Planning Inc. now owns 1,386 shares of the company's stock valued at $222,000 after acquiring an additional 61 shares in the last quarter. 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.