Truist Financial Forecasts Strong Price Appreciation for Ferguson (NASDAQ:FERG) Stock

Key Points

• Investment analysts at Truist Financial have increased their price target for Ferguson from $240.00 to $260.00, indicating a potential upside of 13.43% based on the stock's previous close.
• A total of ten research analysts have rated Ferguson with a Buy rating, while the average consensus price target stands at $232.43.
• Ferguson shares traded down 1.0% to $229.22 during mid-day trading, with a market cap of $45.20 billion.

Ferguson (NASDAQ:FERG - Free Report) had its target price upped by Truist Financial from $240.00 to $260.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

FERG has been the topic of several other research reports. UBS Group boosted their target price on Ferguson from $204.00 to $225.00 and gave the company a "neutral" rating in a research report on Wednesday. Berenberg Bank reaffirmed a "hold" rating and issued a $215.00 price target on shares of Ferguson in a report on Thursday, June 5th. Royal Bank Of Canada raised their price target on shares of Ferguson from $231.00 to $243.00 and gave the stock an "outperform" rating in a research report on Wednesday. Morgan Stanley reiterated an "overweight" rating on shares of Ferguson in a research note on Wednesday, September 10th. Finally, Robert W. Baird raised their price objective on shares of Ferguson from $260.00 to $262.00 and gave the company an "outperform" rating in a research report on Wednesday. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.71.

Ferguson Price Performance

Shares of FERG traded up $0.13 during trading hours on Wednesday, hitting $229.33. 2,885,933 shares of the company were exchanged, compared to its average volume of 1,770,834. The firm's fifty day moving average is $226.91 and its 200 day moving average is $198.30. Ferguson has a fifty-two week low of $146.00 and a fifty-two week high of $243.40. The company has a market cap of $45.22 billion, a price-to-earnings ratio of 27.53, a P/E/G ratio of 1.69 and a beta of 1.15. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83.

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, September 26th will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 26th. Ferguson's dividend payout ratio (DPR) is 35.55%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Smithfield Trust Co lifted its position in shares of Ferguson by 3.5% during the 2nd quarter. Smithfield Trust Co now owns 1,342 shares of the company's stock valued at $291,000 after buying an additional 46 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Ferguson by 7.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company's stock valued at $150,000 after buying an additional 48 shares in the last quarter. Hemington Wealth Management lifted its holdings in shares of Ferguson by 51.5% in the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares during the last quarter. US Bancorp DE grew its holdings in shares of Ferguson by 0.8% in the 1st quarter. US Bancorp DE now owns 7,394 shares of the company's stock worth $1,185,000 after acquiring an additional 59 shares during the period. Finally, Compound Planning Inc. lifted its stake in shares of Ferguson by 4.6% during the first quarter. Compound Planning Inc. now owns 1,386 shares of the company's stock worth $222,000 after purchasing an additional 61 shares in the last quarter. 81.98% of the stock is currently owned by 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.