UBS Group Reiterates Neutral Rating for Ferguson (NASDAQ:FERG)

Ferguson (NASDAQ:FERG)‘s stock had its “neutral” rating restated by UBS Group in a research report issued on Wednesday, MarketBeat Ratings reports. They presently have a $193.00 price objective on the stock, down from their prior price objective of $230.00. UBS Group’s price objective points to a potential upside of 12.12% from the company’s previous close.

Several other research firms also recently commented on FERG. Barclays decreased their price objective on Ferguson from $245.00 to $234.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. Robert W. Baird decreased their target price 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. Berenberg Bank raised their target price on Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Bank of America upgraded Ferguson from an “underperform” rating to a “buy” rating and upped their price target for the stock from $185.00 to $225.00 in a report on Wednesday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $219.00 price objective on shares of Ferguson in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.40.

Ferguson Price Performance

Shares of NASDAQ FERG opened at $172.14 on Wednesday. The firm has a market capitalization 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 firm’s 50-day moving average price is $195.22 and its 200-day moving average price is $198.88. 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 has a 1-year low of $170.93 and a 1-year high of $225.63.

Insider Buying and Selling at Ferguson

In other news, CAO Richard Winckler sold 1,325 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $201.75, for a total transaction of $267,318.75. Following the transaction, the chief accounting officer now owns 1,000 shares of the company’s stock, valued at $201,750. This represents a 56.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael Jacobs sold 2,624 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $200.96, for a total value of $527,319.04. Following the transaction, the vice president now owns 1,116 shares of the company’s stock, valued at $224,271.36. The trade was a 70.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,313 shares of company stock worth $2,477,901 over the last three months. 0.16% of the stock is currently owned by insiders.

Institutional Trading of Ferguson

Several hedge funds and other institutional investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Ferguson by 423.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,462,836 shares of the company’s stock valued at $290,475,000 after buying an additional 1,183,143 shares in the last quarter. Southpoint Capital Advisors LP boosted its holdings in shares of Ferguson by 133.3% in the third quarter. Southpoint Capital Advisors LP now owns 700,000 shares of the company’s stock worth $138,999,000 after acquiring an additional 400,000 shares during the period. Barclays PLC grew its position in shares of Ferguson by 76.9% in the third quarter. Barclays PLC now owns 867,593 shares of the company’s stock valued at $172,281,000 after purchasing an additional 377,283 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Ferguson during the 3rd quarter valued at $63,420,000. Finally, FMR LLC lifted its holdings in Ferguson by 3.5% during 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. 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.