Ferguson (NASDAQ:FERG) Reaches New 12-Month High - Here's Why

Key Points

• Ferguson plc's shares reached a new 52-week high at $228.54, reflecting strong trading activity with a last traded price of $228.09.
• Equities analysts have generally given the stock a "Moderate Buy" rating, with target prices ranging from $174.00 to $250.00.
• The company recently declared a quarterly dividend of $0.83, indicating an annualized yield of 1.46% and a payout ratio of 41.40%.

Ferguson plc (NASDAQ:FERG - Get Free Report)'s share price hit a new 52-week high on Wednesday . The stock traded as high as $228.54 and last traded at $228.09, with a volume of 172297 shares traded. The stock had previously closed at $226.96.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FERG. Truist Financial reiterated a "buy" rating and set a $230.00 price target on shares of Ferguson in a research note on Wednesday, June 4th. Morgan Stanley reiterated an "overweight" rating and set a $220.00 price target (up previously from $195.00) on shares of Ferguson in a research note on Monday, June 9th. Berenberg Bank reiterated a "hold" rating and set a $215.00 price target on shares of Ferguson in a research note on Thursday, June 5th. Oppenheimer lifted their target price on shares of Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Finally, Barclays lifted their target price on shares of Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, Ferguson presently has an average rating of "Moderate Buy" and a consensus price target of $220.64.

Ferguson Stock Performance

The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. The stock has a market capitalization of $43.74 billion, a P/E ratio of 26.58, a P/E/G ratio of 1.69 and a beta of 1.17. The business's fifty day moving average price is $213.77 and its two-hundred day moving average price is $185.94.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The company's revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.32 earnings per share. As a group, sell-side analysts forecast that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Friday, June 20th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.5%. Ferguson's dividend payout ratio (DPR) is currently 41.40%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Grove Bank & Trust raised its holdings in shares of Ferguson by 247.4% in the first quarter. Grove Bank & Trust now owns 198 shares of the company's stock worth $32,000 after buying an additional 141 shares during the last quarter. Whipplewood Advisors LLC grew its position in shares of Ferguson by 166.7% in the first quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock valued at $33,000 after purchasing an additional 130 shares during the period. TD Private Client Wealth LLC raised its position in shares of Ferguson by 56.5% during the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Hemington Wealth Management lifted its stake in Ferguson by 51.5% in the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company's stock valued at $33,000 after buying an additional 52 shares in the last quarter. Finally, LGT Financial Advisors LLC lifted its stake in Ferguson by 106.3% in the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock valued at $34,000 after buying an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company's stock.

About Ferguson

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.