Ferguson (NASDAQ:FERG) Price Target Raised to $243.00

Key Points

• Royal Bank of Canada raised its target price for Ferguson (NASDAQ:FERG) from $231.00 to $243.00, suggesting a potential upside of 5.71% from the current stock price.
• The overall consensus rating for Ferguson is a "Moderate Buy" with a target price averaging $228.79 based on multiple analysts' evaluations.
• Ferguson stock performance showed a recent trading price of $229.87, with a 52-week range between $146.00 and $243.40, and institutional investors hold approximately 81.98% of the company's shares.

Ferguson (NASDAQ:FERG - Free Report) had its price target upped by Royal Bank Of Canada from $231.00 to $243.00 in a research report released on Wednesday, MarketBeat.com reports. They currently have an outperform rating on the stock.

FERG has been the subject of several other reports. Wells Fargo & Company lifted their price objective on shares of Ferguson from $250.00 to $275.00 and gave the stock an "overweight" rating in a research note on Wednesday. UBS Group lifted their target price on Ferguson from $173.00 to $204.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Berenberg Bank reiterated a "hold" rating and set a $215.00 target price on shares of Ferguson in a research report on Thursday, June 5th. The Goldman Sachs Group began coverage on Ferguson in a report on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price objective for the company. Finally, Truist Financial reiterated a "buy" rating and issued a $230.00 target price on shares of Ferguson in a research note on Wednesday, June 4th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Ferguson has an average rating of "Moderate Buy" and an average target price of $235.71.

Ferguson Trading Up 0.1%

NASDAQ FERG traded up $0.13 on Wednesday, hitting $229.33. 2,885,933 shares of the stock were exchanged, compared to its average volume of 1,770,834. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. The stock has a fifty day moving average price of $226.91 and a two-hundred day moving average price of $198.30. The firm has a market capitalization of $45.22 billion, a P/E ratio of 27.53, a P/E/G ratio of 1.69 and a beta of 1.15. Ferguson has a 52-week low of $146.00 and a 52-week high of $243.40.

Ferguson Dividend Announcement

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

Institutional Trading of Ferguson

Large investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC grew its holdings in 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 buying an additional 77 shares in the last quarter. Grove Bank & Trust grew its holdings in 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 buying an additional 141 shares in the last quarter. Whipplewood Advisors LLC grew its holdings in Ferguson by 166.7% in the 1st quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock valued at $33,000 after buying an additional 130 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in Ferguson by 56.5% in the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock valued at $33,000 after buying an additional 74 shares in the last quarter. Finally, Hemington Wealth Management grew its holdings in shares of Ferguson by 51.5% during the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company's stock worth $33,000 after purchasing an additional 52 shares during the period. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

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.