Ferguson (NASDAQ:FERG) Now Covered by Morgan Stanley

Morgan Stanley initiated coverage on shares of Ferguson (NASDAQ:FERG) in a research report report published on Monday, Marketbeat reports. The brokerage issued an overweight rating and a $204.00 price target on the stock.

FERG has been the subject of a number of other reports. Citigroup lowered their price target on Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Oppenheimer began coverage on shares of Ferguson in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price target on the stock. Zelman & Associates downgraded shares of Ferguson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 17th. Barclays dropped their target price on shares of Ferguson from $234.00 to $211.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Finally, Bank of America raised Ferguson from an “underperform” rating to a “buy” rating and upped their target price for the company from $185.00 to $225.00 in a report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and an average target price of $218.64.

Ferguson Price Performance

FERG stock opened at $183.99 on Monday. 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 business has a 50-day simple moving average of $186.39 and a two-hundred day simple moving average of $196.88. The company has a market capitalization of $36.79 billion, a P/E ratio of 22.09, a price-to-earnings-growth ratio of 1.71 and a beta of 1.24. Ferguson has a 52-week low of $167.27 and a 52-week high of $225.63.

Ferguson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Friday, December 20th will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Friday, December 20th. This is an increase from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s dividend payout ratio (DPR) is 39.86%.

Hedge Funds Weigh In On Ferguson

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Manchester Capital Management LLC boosted its position in shares of Ferguson by 906.7% during the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock valued at $26,000 after acquiring an additional 136 shares during the last quarter. Asset Dedication LLC bought a new stake in Ferguson during the third quarter valued at approximately $27,000. True Wealth Design LLC grew its stake in Ferguson by 1,350.0% in the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after buying an additional 135 shares in the last quarter. Berbice Capital Management LLC bought a new position in shares of Ferguson in the 4th quarter worth $35,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Ferguson during the 3rd quarter valued at $37,000. 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.