Ferguson (NASDAQ:FERG) Coverage Initiated at Morgan Stanley

Morgan Stanley started coverage on shares of Ferguson (NASDAQ:FERG) in a research note released on Monday morning, Marketbeat reports. The brokerage issued an overweight rating and a $204.00 price objective on the stock.

Several other research analysts have also commented on the stock. Zelman & Associates lowered shares of Ferguson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 17th. Berenberg Bank boosted their target price on shares of Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Citigroup decreased their price target on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Robert W. Baird cut their price objective on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Finally, Wells Fargo & Company dropped their price target on Ferguson from $220.00 to $215.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Ferguson presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.73.

Ferguson Stock Up 2.0 %

NASDAQ FERG opened at $183.31 on Monday. The business’s 50-day moving average is $185.14 and its 200 day moving average is $196.59. The stock has a market capitalization of $36.65 billion, a PE ratio of 22.01, a PEG ratio of 1.71 and a beta of 1.24. 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 1 year low of $167.27 and a 1 year high of $225.63.

Ferguson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Friday, December 20th will be paid a $0.83 dividend. This is an increase from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, December 20th. Ferguson’s dividend payout ratio (DPR) is 39.86%.

Hedge Funds Weigh In On Ferguson

Several institutional investors have recently made changes to their positions in FERG. FMR LLC increased its stake in shares of Ferguson by 3.5% in the 3rd quarter. FMR LLC now owns 8,468,003 shares of the company’s stock worth $1,668,462,000 after purchasing an additional 288,935 shares in the last quarter. State Street Corp boosted its stake in shares of Ferguson by 3.7% in the third quarter. State Street Corp now owns 4,541,079 shares of the company’s stock worth $905,230,000 after acquiring an additional 161,662 shares during the period. Geode Capital Management LLC lifted its holdings in Ferguson by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,197,621 shares of the company’s stock worth $633,409,000 after purchasing an additional 25,677 shares in the last quarter. Franklin Resources Inc. boosted its stake in Ferguson by 6.0% in the 3rd quarter. Franklin Resources Inc. now owns 2,371,954 shares of the company’s stock worth $477,858,000 after purchasing an additional 133,769 shares during the period. Finally, Cantillon Capital Management LLC raised its position in shares of Ferguson by 24.5% during the fourth quarter. Cantillon Capital Management LLC now owns 2,111,673 shares of the company’s stock valued at $366,523,000 after buying an additional 415,002 shares during 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.