Ferguson (NASDAQ:FERG) Hits New 52-Week Low on Analyst Downgrade

Ferguson plc (NASDAQ:FERG) hit a new 52-week low during mid-day trading on Tuesday after Citigroup lowered their price target on the stock from $221.00 to $189.00. Citigroup currently has a neutral rating on the stock. Ferguson traded as low as $171.46 and last traded at $172.70, with a volume of 220820 shares trading hands. The stock had previously closed at $174.18.

A number of other research firms also recently commented on FERG. Oppenheimer assumed coverage on shares of Ferguson in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price objective for the company. Robert W. Baird lowered their price objective on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. Barclays cut their target price on shares of Ferguson from $245.00 to $234.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. Wells Fargo & Company lowered their target price on Ferguson from $220.00 to $215.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $219.00 price target on shares of Ferguson in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Ferguson presently has an average rating of “Moderate Buy” and a consensus target price of $226.89.

Insider Transactions at Ferguson

In related news, SVP Garland Williams sold 1,118 shares of Ferguson stock in a transaction on Monday, October 14th. The stock was sold at an average price of $201.22, for a total value of $224,963.96. Following the transaction, the senior vice president now directly owns 1,882 shares in the company, valued at $378,696.04. The trade was a 37.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ian T. Graham sold 5,778 shares of Ferguson stock in a transaction that occurred on 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 transaction, the insider now directly 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. In the last 90 days, insiders have sold 12,313 shares of company stock valued at $2,477,901. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Ferguson

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FERG. Acadian Asset Management LLC boosted its position in shares of Ferguson by 43.3% in the second quarter. Acadian Asset Management LLC now owns 11,145 shares of the company’s stock worth $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 worth approximately $8,986,000. Choreo LLC acquired a new stake in shares of Ferguson during the second quarter worth approximately $1,341,000. United Services Automobile Association grew its position in Ferguson by 45.1% during the second quarter. United Services Automobile Association now owns 16,526 shares of the company’s stock valued at $3,200,000 after purchasing an additional 5,135 shares in the last quarter. Finally, LGT Group Foundation increased its stake in Ferguson by 24.2% in the 2nd quarter. LGT Group Foundation now owns 1,404 shares of the company’s stock valued at $272,000 after buying an additional 274 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Trading Down 1.2 %

The business’s 50-day simple moving average is $196.21 and its 200-day simple moving average is $199.26. The company has a market cap of $34.41 billion, a PE ratio of 20.66, a P/E/G ratio of 1.90 and a beta of 1.24. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89.

Ferguson Increases Dividend

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

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.