Ferguson (NYSE:FERG) Rating Lowered to Hold at Wall Street Zen

by · The Cerbat Gem

Ferguson (NYSE:FERG – Get Free Report) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Friday.

Several other research firms also recently commented on FERG. Vertical Research began coverage on shares of Ferguson in a report on Monday, October 20th. They issued a “buy” rating and a $291.99 target price on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Ferguson in a research note on Wednesday, September 10th. Truist Financial increased their price objective on shares of Ferguson from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Zacks Research upgraded Ferguson to a “hold” rating in a research report on Friday, August 8th. Finally, Robert W. Baird lifted their target price on Ferguson from $260.00 to $262.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $243.75.

Check Out Our Latest Stock Report on Ferguson

Ferguson Price Performance

Shares of NYSE FERG traded down $0.87 during mid-day trading on Friday, reaching $251.67. The company’s stock had a trading volume of 988,597 shares, compared to its average volume of 1,735,045. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. Ferguson has a 52 week low of $146.00 and a 52 week high of $256.93. The firm’s fifty day simple moving average is $240.15. The company has a market cap of $49.32 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 2.05 and a beta of 1.18.

Ferguson (NYSE:FERG – Get Free Report) last posted its quarterly earnings results on Tuesday, September 16th. The company reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.48. Ferguson had a return on equity of 35.21% and a net margin of 6.03%.The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.44 billion.

Insider Transactions at Ferguson

In related news, CFO William Brundage sold 3,000 shares of Ferguson stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $233.32, for a total value of $699,960.00. Following the completion of the transaction, the chief financial officer owned 52,631 shares in the company, valued at approximately $12,279,864.92. This trade represents a 5.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ian T. Graham sold 4,864 shares of the business’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $233.22, for a total value of $1,134,382.08. Following the sale, the insider directly owned 7,769 shares in the company, valued at $1,811,886.18. The trade was a 38.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 29,264 shares of company stock worth $6,853,349 in the last quarter. Company insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Ferguson

Several large investors have recently modified their holdings of the stock. Daymark Wealth Partners LLC lifted its position in Ferguson by 4.6% in the third quarter. Daymark Wealth Partners LLC now owns 992 shares of the company’s stock worth $223,000 after buying an additional 44 shares during the last quarter. Smithfield Trust Co lifted its holdings in shares of Ferguson by 3.5% in the 2nd quarter. Smithfield Trust Co now owns 1,342 shares of the company’s stock worth $291,000 after acquiring an additional 46 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Ferguson by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock worth $150,000 after purchasing an additional 48 shares during the period. Hemington Wealth Management grew its holdings in Ferguson by 51.5% during the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company’s stock valued at $33,000 after purchasing an additional 52 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Ferguson by 21.7% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 292 shares of the company’s stock valued at $66,000 after purchasing an additional 52 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Company Profile

(Get Free Report)

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.

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