Shares of Ferguson plc (NYSE:FERG – Get Free Report) have received an average recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $277.5825.
Several equities analysts have weighed in on the company. Weiss Ratings lowered Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Barclays raised their target price on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Royal Bank Of Canada raised their target price on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Wells Fargo & Company raised their target price on Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Citigroup restated a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th.
Check Out Our Latest Stock Report on FERG
Ferguson Price Performance
Ferguson (NYSE:FERG – Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.14. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The company had revenue of $7.47 billion for the quarter. During the same quarter last year, the business earned $2.50 earnings per share. Ferguson’s quarterly revenue was up 3.6% on a year-over-year basis. On average, analysts anticipate that Ferguson will post 11.26 earnings per share for the current fiscal year.
Ferguson Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th will be paid a $0.89 dividend. The ex-dividend date is Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.5%. Ferguson’s payout ratio is presently 41.40%.
Ferguson declared that its board has approved a share repurchase program on Tuesday, May 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
Hedge Funds Weigh In On Ferguson
Institutional investors have recently made changes to their positions in the business. Leonteq Securities AG bought a new position in shares of Ferguson in the fourth quarter worth about $26,000. Basepoint Wealth LLC bought a new position in shares of Ferguson in the fourth quarter worth about $26,000. Central Pacific Bank Trust Division bought a new position in shares of Ferguson in the fourth quarter worth about $27,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Ferguson in the third quarter worth about $28,000. Finally, Grove Bank & Trust increased its stake in shares of Ferguson by 154.4% in the fourth quarter. Grove Bank & Trust now owns 145 shares of the company’s stock worth $32,000 after purchasing an additional 88 shares during the period. 81.98% of the stock is currently owned by institutional investors.
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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