Ferguson (NASDAQ:FERG - Free Report) had its price target raised by Royal Bank of Canada from $189.00 to $231.00 in a report issued on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.
Other research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft assumed coverage on Ferguson in a research note on Tuesday, April 1st. They issued a "hold" rating and a $174.00 price objective for the company. Wells Fargo & Company increased their price objective on Ferguson from $190.00 to $230.00 and gave the company an "overweight" rating in a research note on Wednesday. Citigroup reduced their price objective on Ferguson from $189.00 to $168.00 and set a "neutral" rating for the company in a research note on Wednesday, March 12th. Robert W. Baird set a $190.00 price objective on Ferguson and gave the company an "outperform" rating in a research note on Wednesday, March 12th. Finally, Barclays increased their price objective on Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $214.50.
Check Out Our Latest Stock Analysis on FERG
Ferguson Stock Performance
NASDAQ:FERG traded down $1.58 during trading hours on Wednesday, reaching $214.57. The company had a trading volume of 1,728,273 shares, compared to its average volume of 1,645,475. Ferguson has a 1-year low of $146.00 and a 1-year high of $225.63. The firm has a market cap of $42.90 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 1.69 and a beta of 1.13. The business's 50 day moving average price is $171.41 and its 200-day moving average price is $178.06. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91.
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, topping the consensus estimate of $2.06 by $0.44. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The company's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.32 earnings per share. Research analysts forecast that Ferguson will post 9.4 EPS for the current year.
Ferguson Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Friday, June 20th. Ferguson's dividend payout ratio is presently 41.40%.
Hedge Funds Weigh In On Ferguson
A number of hedge funds have recently modified their holdings of the business. Osterweis Capital Management Inc. purchased a new position in shares of Ferguson during the 1st quarter worth $26,785,000. First Hawaiian Bank grew its holdings in shares of Ferguson by 15.4% during the 1st quarter. First Hawaiian Bank now owns 2,274 shares of the company's stock worth $364,000 after purchasing an additional 303 shares during the period. Focus Partners Wealth grew its holdings in shares of Ferguson by 22.7% during the 1st quarter. Focus Partners Wealth now owns 3,140 shares of the company's stock worth $503,000 after purchasing an additional 581 shares during the period. SCS Capital Management LLC acquired a new position in Ferguson during the 1st quarter worth about $435,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Ferguson by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,932,959 shares of the company's stock worth $309,718,000 after acquiring an additional 205,531 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.
About Ferguson
(
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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.
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