Ferguson Enterprises Inc. (NYSE:FERG) is listed among the 12 Best HVAC Stocks to Buy Now, according to Insider Monkey. Barclays analyst Matthew Bouley raised Ferguson’s price target to $278 from $267, maintaining an Overweight rating. The company reported $8.2 billion in sales, a 5% increase from the previous year, with organic growth accounting for 4%.

CEO Kevin Murphy reported a 14% increase in operating profit to $808 million and a nearly 16% rise in diluted earnings per share to $2.84. Ferguson declared a 7% increase in its quarterly dividend to $0.89 per share and acquired Moore Supply Company, an HVAC equipment and supplies business in Chicago.

Residential revenue for Ferguson was down 1%, while nonresidential revenue grew 12%. U.S. Waterworks revenue increased by 14%, but HVAC revenue declined by 6% due to industry transitions and weakness in residential construction. Ferguson operates as a value-added distributor, serving professional customers in residential and non-residential construction markets in North America.

Read more at Yahoo Finance: Barclays Stays Selective in Building Products as Ferguson (FERG) Heads Into Q4