Ferguson (NASDAQ:FERG) Trading Down 5.1% - What's Next?

Key Points

• Ferguson plc shares declined by 5.1%, closing at $214.30, after trading as low as $214.95 and experiencing a volume drop of 18% from its average.
• Analysts have varying viewpoints, with JPMorgan and Royal Bank of Canada raising their price targets to $225.00 and $231.00 respectively, while Berenberg Bank maintains a "hold" rating with a $215.00 price target.
• The company declared a quarterly dividend of $0.83, scheduled for payment on November 7th, representing a 1.6% yield on an annualized basis and a payout ratio of 41.40%.

Ferguson plc (NASDAQ:FERG - Get Free Report) shares traded down 5.1% on Friday . The company traded as low as $214.95 and last traded at $214.30. 1,400,986 shares were traded during trading, a decline of 18% from the average session volume of 1,703,462 shares. The stock had previously closed at $225.72.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Ferguson from $220.00 to $225.00 and gave the company an "overweight" rating in a research report on Thursday, September 4th. Royal Bank Of Canada lifted their price objective on shares of Ferguson from $189.00 to $231.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Berenberg Bank reaffirmed a "hold" rating and issued a $215.00 price objective on shares of Ferguson in a research report on Thursday, June 5th. The Goldman Sachs Group started coverage on shares of Ferguson in a research report on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $221.00.

Ferguson Stock Down 6.8%

The stock's fifty day moving average price is $226.85 and its 200 day moving average price is $196.07. The stock has a market cap of $41.47 billion, a P/E ratio of 25.24, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, September 26th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.6%. Ferguson's dividend payout ratio is presently 41.40%.

Hedge Funds Weigh In On Ferguson

A number of institutional investors have recently made changes to their positions in the stock. True Wealth Design LLC boosted its stake in shares of Ferguson by 145.3% in the 2nd quarter. True Wealth Design LLC now owns 130 shares of the company's stock valued at $28,000 after purchasing an additional 77 shares in the last quarter. Hemington Wealth Management boosted its stake 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 in the last quarter. Fifth Third Bancorp boosted its stake in shares of Ferguson by 230.8% in the 2nd quarter. Fifth Third Bancorp now owns 172 shares of the company's stock valued at $37,000 after purchasing an additional 120 shares in the last quarter. Maseco LLP purchased a new stake in shares of Ferguson in the 2nd quarter valued at $40,000. Finally, Grove Bank & Trust boosted its stake in shares of Ferguson by 247.4% in the 1st quarter. Grove Bank & Trust now owns 198 shares of the company's stock valued at $32,000 after purchasing an additional 141 shares in the last quarter. 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.

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