Ferguson (NASDAQ:FERG) Sees Unusually-High Trading Volume

Shares of Ferguson plc (NASDAQ:FERG) saw strong trading volume on Tuesday . 2,927,230 shares were traded during trading, an increase of 157% from the previous session’s volume of 1,137,913 shares.The stock last traded at $188.32 and had previously closed at $185.87.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Jefferies Financial Group boosted their price target on Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Barclays cut their price objective on shares of Ferguson from $232.00 to $229.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, Royal Bank of Canada lowered their target price on shares of Ferguson from $217.00 to $211.00 and set an “outperform” rating on the stock in a report on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $230.00.

Ferguson Stock Performance

The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68. The company has a market cap of $38.40 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 5.75 and a beta of 1.21. The company has a fifty day moving average of $203.78 and a two-hundred day moving average of $207.40.

Ferguson announced that its board has authorized a share repurchase plan on Tuesday, June 4th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BayBridge Capital Group LLC lifted its stake in Ferguson by 2.0% in the first quarter. BayBridge Capital Group LLC now owns 2,373 shares of the company’s stock valued at $494,000 after buying an additional 47 shares during the period. Verdence Capital Advisors LLC boosted its position in shares of Ferguson by 3.0% during the 1st quarter. Verdence Capital Advisors LLC now owns 1,663 shares of the company’s stock worth $363,000 after purchasing an additional 48 shares in the last quarter. OneAscent Financial Services LLC increased its holdings in shares of Ferguson by 1.9% during the first quarter. OneAscent Financial Services LLC now owns 2,584 shares of the company’s stock valued at $565,000 after acquiring an additional 49 shares in the last quarter. Financial Advocates Investment Management raised its position in shares of Ferguson by 2.7% during the fourth quarter. Financial Advocates Investment Management now owns 1,995 shares of the company’s stock worth $385,000 after purchasing an additional 52 shares during the period. Finally, Perigon Wealth Management LLC raised its holdings in Ferguson by 3.6% during the first quarter. Perigon Wealth Management LLC now owns 1,568 shares of the company’s stock worth $342,000 after buying an additional 55 shares during the last quarter. Institutional investors and hedge funds 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.