Ferguson (NYSE:FERG) Shares Gap Down – What’s Next?

Ferguson plc (NYSE:FERG) shares gapped down prior to trading on Tuesday . The stock had previously closed at $245.80, but opened at $232.60. Ferguson shares last traded at $232.6540, with a volume of 772,699 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FERG shares. Wall Street Zen upgraded shares of Ferguson from a “hold” rating to a “buy” rating in a research report on Saturday. Jefferies Financial Group upped their target price on shares of Ferguson from $268.00 to $289.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Barclays increased their price target on shares of Ferguson from $247.00 to $273.00 and gave the company an “overweight” rating in a report on Thursday, September 18th. Royal Bank Of Canada upped their price objective on Ferguson from $231.00 to $243.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Finally, Vertical Research initiated coverage on Ferguson in a report on Monday, October 20th. They issued a “buy” rating and a $291.99 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, twelve 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 a consensus price target of $246.71.

Ferguson Stock Performance

The company has a market cap of $45.14 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 2.12 and a beta of 1.17. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94. The company’s fifty day simple moving average is $242.79.

Ferguson (NYSE:FERG) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.07. Ferguson had a return on equity of 35.21% and a net margin of 6.03%.The company had revenue of $8.17 billion for the quarter. During the same period in the previous year, the business earned $2.45 EPS. Ferguson’s revenue for the quarter was up 5.1% compared to the same quarter last year.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Friday, September 26th were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, September 26th. Ferguson’s dividend payout ratio (DPR) is currently 35.55%.

Insider Buying and Selling at Ferguson

In related news, insider Ian T. Graham sold 606 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $239.33, for a total value of $145,033.98. Following the completion of the transaction, the insider directly owned 7,714 shares of the company’s stock, valued at $1,846,191.62. This trade represents a 7.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO William Brundage sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $233.32, for a total transaction of $699,960.00. Following the sale, the chief financial officer directly owned 52,631 shares in the company, valued at approximately $12,279,864.92. This represents a 5.39% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 29,264 shares of company stock valued at $6,853,349. Insiders own 0.18% of the company’s stock.

Institutional Trading of Ferguson

Hedge funds and other institutional investors have recently made changes to their positions in the business. True Wealth Design LLC lifted its position in Ferguson by 145.3% during the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock valued at $28,000 after purchasing an additional 77 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of Ferguson during the 3rd quarter valued at about $28,000. Cornerstone Planning Group LLC lifted its holdings in shares of Ferguson by 178.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock valued at $31,000 after buying an additional 82 shares during the period. Hemington Wealth Management boosted its stake in shares of Ferguson by 51.5% in the second quarter. Hemington Wealth Management now owns 153 shares of the company’s stock worth $33,000 after buying an additional 52 shares during the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in Ferguson during the third quarter worth about $34,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

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.