Ferguson (NYSE:FERG) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Ferguson plc (NYSE:FERG - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $237.21 and traded as high as $265.29. Ferguson shares last traded at $259.6330, with a volume of 3,759,350 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Zelman & Associates raised shares of Ferguson from a "hold" rating to an "outperform" rating and set a $285.00 price objective for the company in a research note on Friday, July 17th. Sanford C. Bernstein upped their target price on Ferguson from $310.00 to $325.00 and gave the company an "outperform" rating in a research note on Tuesday, August 11th. UBS Group upped their target price on Ferguson from $252.00 to $256.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Ferguson in a report on Tuesday, September 29th. Finally, The Goldman Sachs Group decreased their price target on Ferguson from $290.00 to $270.00 and set a "neutral" rating for the company in a research note on Tuesday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $287.44.

Ferguson Trading Up 11.1%

The stock's fifty day moving average price is $226.03 and its 200 day moving average price is $237.21. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 0.93. The stock has a market capitalization of $50.23 billion, a P/E ratio of 30.51, a PEG ratio of 1.79 and a beta of 1.11.

Ferguson (NYSE:FERG - Get Free Report) last posted its quarterly earnings results on Monday, November 9th. The company reported $3.43 EPS for the quarter, topping the consensus estimate of $3.28 by $0.15. The company had revenue of $9.03 billion for the quarter. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. Research analysts forecast that Ferguson plc will post 11.42 earnings per share for the current year.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 8th. Stockholders of record on Friday, November 20th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, November 20th. Ferguson's payout ratio is currently 41.83%.

Insider Transactions at Ferguson

In related news, insider Jake Schlicher sold 314 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $224.50, for a total value of $70,493.00. Following the transaction, the insider owned 8,621 shares of the company's stock, valued at $1,935,414.50. This represents a 3.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Allison Stirrup sold 922 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $225.00, for a total value of $207,450.00. Following the completion of the transaction, the insider directly owned 7,038 shares in the company, valued at approximately $1,583,550. This trade represents a 11.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 38,808 shares of company stock valued at $8,571,587 in the last ninety days. Corporate insiders own 0.15% of the company's stock.

Hedge Funds Weigh In On Ferguson

Hedge funds and other institutional investors have recently made changes to their positions in the company. Farmers & Merchants Investments Inc. bought a new stake in shares of Ferguson in the third quarter valued at about $28,000. Compass Financial Management LLC bought a new position in Ferguson during the 2nd quarter worth about $32,000. Heritage Family Offices LLP bought a new position in Ferguson during the 3rd quarter worth about $38,000. Provenance Wealth Advisors LLC purchased a new position in Ferguson during the 3rd quarter valued at about $39,000. Finally, Eastern Bank purchased a new position in Ferguson during the 2nd quarter valued at about $42,000. Institutional investors own 81.98% of the company's stock.

About Ferguson

Ferguson plc is a distributor of plumbing, heating, ventilation and air conditioning (HVAC), waterworks, and fire protection products. It supplies contractors and other professional customers with products, services, and expertise for residential, commercial, industrial, and infrastructure projects.

The company serves customers primarily in the United States and Canada through branches, distribution centers, and digital channels. Its offerings include pipes, valves and fittings, plumbing fixtures, HVAC equipment, water and wastewater products, and fire protection systems.

Ferguson traces its history to Wolseley, a British company that entered the plumbing and heating distribution business in the 1950s.

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