Shares of Ferguson plc (NYSE:FERG – Get Free Report) have earned an average rating of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $285.9279.
FERG has been the topic of several analyst reports. The Goldman Sachs Group downgraded Ferguson from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $315.00 to $265.00 in a report on Monday, July 6th. Sanford C. Bernstein raised their price target on Ferguson from $310.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. UBS Group lifted their price target on Ferguson from $252.00 to $256.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Royal Bank Of Canada upped their price target on shares of Ferguson from $281.00 to $290.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings raised shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd.
Read Our Latest Report on Ferguson
Ferguson Stock Performance
Ferguson (NYSE:FERG – Get Free Report) last announced its earnings results on Monday, August 10th. The company reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.16. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. The business had revenue of $8.75 billion during the quarter. On average, equities analysts expect that Ferguson will post 11.39 EPS for the current fiscal year.
Ferguson Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Friday, August 21st will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, August 21st. Ferguson’s dividend payout ratio is currently 41.40%.
Ferguson declared that its Board of Directors has initiated 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 reacquire up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
Institutional Investors Weigh In On Ferguson
Several institutional investors and hedge funds have recently made changes to their positions in the company. Raiffeisen Bank International AG lifted its stake in Ferguson by 350,745.0% during the 4th quarter. Raiffeisen Bank International AG now owns 522,759 shares of the company’s stock valued at $116,382,000 after acquiring an additional 522,610 shares during the period. Marsico Capital Management LLC bought a new position in Ferguson during the fourth quarter valued at approximately $11,017,000. Lmcg Investments LLC bought a new position in Ferguson during the first quarter valued at approximately $1,806,000. D.A. Davidson & CO. boosted its holdings in Ferguson by 89.6% in the fourth quarter. D.A. Davidson & CO. now owns 30,983 shares of the company’s stock worth $6,898,000 after purchasing an additional 14,644 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Ferguson by 504.2% in the fourth quarter. KBC Group NV now owns 656,727 shares of the company’s stock worth $146,207,000 after purchasing an additional 548,035 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.
Ferguson Company Profile
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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