Morgan Stanley started coverage on shares of Ferguson (NASDAQ:FERG – Free Report) in a report released on Monday morning, MarketBeat.com reports. The firm issued an overweight rating and a $204.00 price objective on the stock.
A number of other analysts also recently weighed in on the stock. Oppenheimer assumed coverage on shares of Ferguson in a report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $219.00 target price on shares of Ferguson in a report on Wednesday, December 11th. Zelman & Associates cut Ferguson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 17th. Robert W. Baird reduced their price objective on Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. Finally, UBS Group reissued a “neutral” rating and set a $193.00 target price (down previously from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Ferguson currently has an average rating of “Moderate Buy” and a consensus price target of $218.64.
Read Our Latest Stock Report on FERG
Ferguson Stock Up 1.6 %
Ferguson Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Friday, December 20th will be given a dividend of $0.83 per share. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Friday, December 20th. Ferguson’s dividend payout ratio (DPR) is currently 39.86%.
Institutional Investors Weigh In On Ferguson
A number of institutional investors have recently made changes to their positions in the stock. Frank Rimerman Advisors LLC lifted its stake in shares of Ferguson by 1.8% in the third quarter. Frank Rimerman Advisors LLC now owns 3,307 shares of the company’s stock worth $657,000 after acquiring an additional 57 shares during the period. Mayflower Financial Advisors LLC boosted its stake in shares of Ferguson by 3.2% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 1,952 shares of the company’s stock valued at $388,000 after purchasing an additional 61 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Ferguson by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,834 shares of the company’s stock valued at $4,137,000 after purchasing an additional 86 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Ferguson by 33.8% during the third quarter. Farther Finance Advisors LLC now owns 364 shares of the company’s stock worth $72,000 after buying an additional 92 shares during the last quarter. Finally, Caprock Group LLC lifted its holdings in Ferguson by 2.8% in the fourth quarter. Caprock Group LLC now owns 3,496 shares of the company’s stock valued at $610,000 after buying an additional 94 shares during the period. 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.
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