Ferguson (NASDAQ:FERG) Price Target Raised to $204.00

Ferguson (NASDAQ:FERG - Free Report) had its price objective lifted by UBS Group from $173.00 to $204.00 in a research report sent to investors on Wednesday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

FERG has been the subject of several other reports. Robert W. Baird set a $190.00 price objective on Ferguson and gave the stock an "outperform" rating in a report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft began coverage on Ferguson in a report on Tuesday, April 1st. They issued a "hold" rating and a $174.00 price target for the company. Wolfe Research assumed coverage on Ferguson in a research report on Monday, March 17th. They issued a "peer perform" rating for the company. Wells Fargo & Company upped their price target on Ferguson from $190.00 to $230.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Citigroup dropped their price target on Ferguson from $189.00 to $168.00 and set a "neutral" rating for the company in a research note on Wednesday, March 12th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $214.50.

Ferguson Stock Down 0.7%

Shares of NASDAQ FERG traded down $1.58 during midday trading on Wednesday, hitting $214.57. 1,728,273 shares of the company's stock were exchanged, compared to its average volume of 1,645,475. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. Ferguson has a twelve month low of $146.00 and a twelve month high of $225.63. The company has a market cap of $42.90 billion, a PE ratio of 25.76, a P/E/G ratio of 1.69 and a beta of 1.13. The firm's fifty day simple moving average is $171.41 and its 200-day simple moving average is $178.06.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.44. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. During the same period in the prior year, the company posted $2.32 EPS. The firm's revenue for the quarter was up 4.3% on a year-over-year basis. Research analysts predict that Ferguson will post 9.4 EPS for the current fiscal year.

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Friday, June 20th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Friday, June 20th. Ferguson's dividend payout ratio (DPR) is presently 41.40%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FERG. Parnassus Investments LLC boosted its holdings in shares of Ferguson by 944.4% in the 4th quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company's stock worth $613,944,000 after acquiring an additional 3,198,477 shares in the last quarter. Norges Bank bought a new position in Ferguson in the 4th quarter worth approximately $469,730,000. T. Rowe Price Investment Management Inc. raised its position in Ferguson by 101.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,165,873 shares of the company's stock worth $667,498,000 after purchasing an additional 2,094,029 shares during the last quarter. Barclays PLC raised its position in Ferguson by 208.8% in the 4th quarter. Barclays PLC now owns 2,678,880 shares of the company's stock worth $464,973,000 after purchasing an additional 1,811,287 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Ferguson by 65.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,454,467 shares of the company's stock worth $713,740,000 after purchasing an additional 1,755,464 shares during the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

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.