Shares of Ferguson plc (NYSE:FERG – Get Free Report) have earned a consensus rating of “Moderate Buy” from the eighteen research firms that are covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $277.2136.
FERG has been the subject of several research analyst reports. The Goldman Sachs Group downgraded 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 report on Monday, July 6th. Wells Fargo & Company raised their price target on Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Weiss Ratings raised Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Citigroup reissued a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Finally, 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 research note on Wednesday, May 6th.
Check Out Our Latest Analysis on Ferguson
Ferguson Stock Down 1.2%
Ferguson (NYSE:FERG – Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.14. The firm had revenue of $7.47 billion during the quarter. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the company earned $2.50 earnings per share. Analysts anticipate that Ferguson will post 11.27 EPS for the current year.
Ferguson announced that its Board of Directors has initiated a stock buyback plan on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
Ferguson Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is 41.40%.
Institutional Trading of Ferguson
A number of institutional investors and hedge funds have recently made changes to their positions in FERG. Basepoint Wealth LLC purchased a new stake in shares of Ferguson during the 4th quarter valued at about $26,000. Leonteq Securities AG purchased a new stake in shares of Ferguson during the fourth quarter valued at approximately $26,000. Central Pacific Bank Trust Division purchased a new stake in shares of Ferguson during the fourth quarter valued at approximately $27,000. Zions Bancorporation National Association UT lifted its position in shares of Ferguson by 123.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock worth $32,000 after purchasing an additional 79 shares in the last quarter. Finally, Grove Bank & Trust lifted its position in shares of Ferguson by 154.4% during the fourth quarter. Grove Bank & Trust now owns 145 shares of the company’s stock worth $32,000 after purchasing an additional 88 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.
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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