Ferguson plc (NYSE:FERG – Get Free Report)’s share price gapped up prior to trading on Monday . The stock had previously closed at $234.33, but opened at $252.00. Ferguson shares last traded at $255.5610, with a volume of 2,683,701 shares changing hands.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on FERG shares. Weiss Ratings raised shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Royal Bank Of Canada raised their price target on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Wells Fargo & Company lifted their price target on Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. The Goldman Sachs Group lowered Ferguson from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $315.00 to $265.00 in a research note on Monday, July 6th. Finally, Barclays increased their price objective on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Ferguson has a consensus rating of “Moderate Buy” and a consensus target price of $277.21.
Check Out Our Latest Stock Analysis on Ferguson
Ferguson Trading Up 7.9%
Ferguson (NYSE:FERG – Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.14. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The business had revenue of $7.47 billion for the quarter. During the same quarter in the prior year, the company earned $2.50 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities analysts anticipate that Ferguson plc will post 11.25 earnings per share for the current year.
Ferguson declared that its board has authorized a stock repurchase program on Tuesday, May 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
Institutional Investors Weigh In On Ferguson
Large investors have recently added to or reduced their stakes in the business. Signaturefd LLC increased its stake in Ferguson by 1.1% in the 4th quarter. Signaturefd LLC now owns 3,979 shares of the company’s stock worth $886,000 after acquiring an additional 44 shares during the last quarter. Simplicity Wealth LLC raised its holdings in shares of Ferguson by 1.6% in the 4th quarter. Simplicity Wealth LLC now owns 3,132 shares of the company’s stock valued at $697,000 after acquiring an additional 48 shares in the last quarter. Sivia Capital Partners LLC boosted its position in shares of Ferguson by 2.9% during the 4th quarter. Sivia Capital Partners LLC now owns 1,685 shares of the company’s stock valued at $375,000 after acquiring an additional 48 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Ferguson by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock valued at $150,000 after acquiring an additional 48 shares during the last quarter. Finally, REAP Financial Group LLC grew its holdings in shares of Ferguson by 13.4% during the fourth quarter. REAP Financial Group LLC now owns 431 shares of the company’s stock worth $96,000 after purchasing an additional 51 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.
About Ferguson
Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.
Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.
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