Citigroup Cuts Ferguson (NASDAQ:FERG) Price Target to $189.00

Ferguson (NASDAQ:FERG) had its price objective reduced by Citigroup from $221.00 to $189.00 in a report published on Monday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other research analysts have also recently weighed in on FERG. Wells Fargo & Company lowered their price objective on Ferguson from $220.00 to $215.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Berenberg Bank upped their price target on shares of Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Barclays decreased their price objective on shares of Ferguson from $245.00 to $234.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Oppenheimer began coverage on shares of Ferguson in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 target price for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $219.00 price target on shares of Ferguson in a report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $222.40.

Ferguson Price Performance

Shares of Ferguson stock opened at $172.14 on Monday. The stock has a market cap of $34.42 billion, a P/E ratio of 20.67, a P/E/G ratio of 1.90 and a beta of 1.24. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.80. The stock’s fifty day moving average is $195.71 and its 200 day moving average is $199.07. Ferguson has a one year low of $170.93 and a one year high of $225.63.

Ferguson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Friday, December 20th will be paid a dividend of $0.83 per share. The ex-dividend date is Friday, December 20th. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a yield of 1.93%. Ferguson’s dividend payout ratio is presently 39.86%.

Insiders Place Their Bets

In other Ferguson news, VP Michael Jacobs sold 2,624 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $200.96, for a total transaction of $527,319.04. Following the completion of the transaction, the vice president now owns 1,116 shares in the company, valued at $224,271.36. This trade represents a 70.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ian T. Graham sold 5,778 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $201.27, for a total transaction of $1,162,938.06. Following the completion of the sale, the insider now owns 5,938 shares in the company, valued at approximately $1,195,141.26. This trade represents a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,313 shares of company stock valued at $2,477,901 in the last quarter. 0.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ferguson

Large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC raised its holdings in Ferguson by 43.3% during the 2nd quarter. Acadian Asset Management LLC now owns 11,145 shares of the company’s stock valued at $2,155,000 after buying an additional 3,366 shares during the period. Varma Mutual Pension Insurance Co purchased a new stake in shares of Ferguson in the second quarter valued at $8,986,000. Choreo LLC bought a new stake in shares of Ferguson in the 2nd quarter worth about $1,341,000. United Services Automobile Association boosted its stake in shares of Ferguson by 45.1% during the 2nd quarter. United Services Automobile Association now owns 16,526 shares of the company’s stock worth $3,200,000 after purchasing an additional 5,135 shares during the period. Finally, LGT Group Foundation grew its holdings in Ferguson by 24.2% during the 2nd quarter. LGT Group Foundation now owns 1,404 shares of the company’s stock valued at $272,000 after purchasing an additional 274 shares during the last quarter. 81.98% of the stock is owned by institutional investors.

Ferguson Company Profile

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.