Ferguson (NYSE:FERG) Coverage Initiated at Sanford C. Bernstein

Stock analysts at Sanford C. Bernstein assumed coverage on shares of Ferguson (NYSE:FERG) in a report released on Wednesday,Benzinga reports. The brokerage set an “outperform” rating and a $288.00 price target on the stock. Sanford C. Bernstein’s target price points to a potential upside of 13.26% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Royal Bank Of Canada raised their price target on shares of Ferguson from $231.00 to $243.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Wall Street Zen upgraded Ferguson from a “hold” rating to a “buy” rating in a report on Monday, October 20th. Barclays raised their target price on Ferguson from $247.00 to $273.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Vertical Research began coverage on Ferguson in a report on Monday, October 20th. They set a “buy” rating and a $291.99 target price on the stock. Finally, JPMorgan Chase & Co. upped their price target on Ferguson from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Ferguson currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.75.

Ferguson Trading Up 1.1%

Shares of FERG stock opened at $254.27 on Wednesday. The firm has a market capitalization of $49.83 billion, a price-to-earnings ratio of 27.22, a price-to-earnings-growth ratio of 2.05 and a beta of 1.18. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The company’s 50-day moving average price is $236.17. Ferguson has a 12 month low of $146.00 and a 12 month high of $255.25.

Ferguson (NYSE:FERG) last issued its quarterly earnings data on Tuesday, September 16th. The company reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.48. Ferguson had a net margin of 6.03% and a return on equity of 35.21%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.44 billion.

Insider Activity

In other news, insider James A. Paisley sold 3,000 shares of Ferguson stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $236.97, for a total value of $710,910.00. Following the completion of the transaction, the insider directly owned 2,211 shares of the company’s stock, valued at approximately $523,940.67. This trade represents a 57.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Richard Winckler sold 1,034 shares of the business’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $232.70, for a total value of $240,611.80. Following the completion of the transaction, the chief accounting officer directly owned 1,458 shares in the company, valued at $339,276.60. This represents a 41.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 29,264 shares of company stock worth $6,853,349. 0.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Ferguson

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Ferguson by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 19,341,871 shares of the company’s stock valued at $4,211,692,000 after acquiring an additional 173,128 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Ferguson by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 7,687,611 shares of the company’s stock worth $1,673,977,000 after purchasing an additional 27,312 shares during the period. Invesco Ltd. increased its stake in Ferguson by 13.8% in the first quarter. Invesco Ltd. now owns 6,818,800 shares of the company’s stock valued at $1,092,576,000 after purchasing an additional 827,355 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Ferguson by 65.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,454,467 shares of the company’s stock valued at $713,740,000 after purchasing an additional 1,755,464 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Ferguson by 39.3% during the second quarter. Franklin Resources Inc. now owns 4,255,661 shares of the company’s stock valued at $926,830,000 after purchasing an additional 1,201,493 shares during the period. 81.98% of the stock is currently owned by institutional investors.

Ferguson Company Profile

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.