Ferguson (NYSE:FERG) Stock Price Breaks Above 200-Day Moving Average – Here’s Why

Ferguson plc (NYSE:FERG) crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $237.33 and traded as high as $240.59. Ferguson shares last traded at $240.3970, with a volume of 951,355 shares.

Analyst Upgrades and Downgrades

Several analysts have commented on FERG shares. Zelman & Associates raised Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price objective for the company in a research note on Friday, July 17th. The Goldman Sachs Group lowered their target price on Ferguson from $290.00 to $270.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 15th. Royal Bank Of Canada dropped their target price on Ferguson from $290.00 to $286.00 and set an “outperform” rating on the stock in a report on Wednesday, October 7th. DA Davidson upped their price target on Ferguson from $278.00 to $284.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Citigroup upgraded shares of Ferguson from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $285.00 to $288.00 in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.44.

Ferguson Stock Performance

The stock has a market capitalization of $46.51 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 1.66 and a beta of 1.14. The firm has a fifty day moving average of $225.03 and a 200-day moving average of $237.33. The company has a quick ratio of 0.93, a current ratio of 1.73 and a debt-to-equity ratio of 0.72.

Ferguson (NYSE:FERG) last issued its quarterly earnings data on Monday, August 10th. The company reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.16. Ferguson had a return on equity of 37.24% and a net margin of 6.82%. The firm had revenue of $8.75 billion during the quarter. As a group, sell-side analysts anticipate that Ferguson plc will post 11.42 EPS for the current year.

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Investors of record on Friday, August 21st were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, August 21st. Ferguson’s payout ratio is presently 41.83%.

Insider Buying and Selling at Ferguson

In other Ferguson news, COO William T. Thees, Jr. sold 353 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $224.50, for a total value of $79,248.50. Following the completion of the transaction, the chief operating officer owned 31,745 shares in the company, valued at $7,126,752.50. This represents a 1.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Allison Stirrup sold 922 shares of the firm’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $225.00, for a total transaction of $207,450.00. Following the sale, the insider directly owned 7,038 shares of the company’s stock, valued at approximately $1,583,550. The trade was a 11.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 38,808 shares of company stock worth $8,571,587. 0.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ferguson

A number of institutional investors have recently made changes to their positions in FERG. Wedbush Securities Inc. boosted its stake in Ferguson by 4.3% during the 2nd quarter. Wedbush Securities Inc. now owns 1,197 shares of the company’s stock valued at $284,000 after acquiring an additional 49 shares during the last quarter. L2 Asset Management LLC boosted its position in Ferguson by 5.2% during the 2nd quarter. L2 Asset Management LLC now owns 1,109 shares of the company’s stock valued at $263,000 after purchasing an additional 55 shares during the period. Cidel Asset Management Inc. grew its position in shares of Ferguson by 3.8% during the second quarter. Cidel Asset Management Inc. now owns 1,541 shares of the company’s stock worth $366,000 after acquiring an additional 56 shares during the last quarter. Virtue Capital Management LLC increased its stake in shares of Ferguson by 4.6% in the third quarter. Virtue Capital Management LLC now owns 1,324 shares of the company’s stock valued at $295,000 after purchasing an additional 58 shares during the period. Finally, Natural Investments LLC raised its stake in Ferguson by 6.9% during the 2nd quarter. Natural Investments LLC now owns 944 shares of the company’s stock valued at $224,000 after acquiring an additional 61 shares in the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Company Profile

Ferguson plc (NYSE: FERG) is a value-added distributor of plumbing, heating, ventilation and air conditioning (HVAC), waterworks, fire protection and other building and industrial products. The company serves professional contractors, municipalities, commercial and industrial businesses, and other customers through a network of branches, distribution centers, showrooms and digital platforms.

Its product offering includes pipes, valves, fittings, plumbing fixtures, water and wastewater infrastructure products, HVAC equipment, fire protection systems, industrial supplies and related tools and services.