Ferguson (NASDAQ:FERG - Free Report) had its price objective boosted by Oppenheimer from $189.00 to $235.00 in a research report report published on Wednesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.
Several other brokerages have also commented on FERG. Deutsche Bank Aktiengesellschaft started coverage on Ferguson in a research note on Tuesday, April 1st. They set a "hold" rating and a $174.00 price target on the stock. Barclays raised their price target on Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price target on Ferguson from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Wells Fargo & Company raised their price target on Ferguson from $190.00 to $230.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Wolfe Research started coverage on Ferguson in a research note on Monday, March 17th. They set a "peer perform" rating on the stock. 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 a consensus rating of "Moderate Buy" and a consensus price target of $214.50.
Check Out Our Latest Report on Ferguson
Ferguson Trading Down 0.7%
Shares of NASDAQ:FERG traded down $1.58 on Wednesday, hitting $214.57. 1,728,273 shares of the company's stock were exchanged, compared to its average volume of 1,645,475. Ferguson has a 12 month low of $146.00 and a 12 month high of $225.63. The stock has a market capitalization of $42.90 billion, a price-to-earnings ratio of 25.76, a price-to-earnings-growth ratio of 1.69 and a beta of 1.13. The business's 50 day simple moving average is $171.41 and its two-hundred day simple moving average 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 released 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%. During the same quarter in the prior year, the business earned $2.32 earnings per share. The business's quarterly revenue was up 4.3% compared to the same quarter last year. Analysts anticipate that Ferguson will post 9.4 EPS for the current fiscal year.
Ferguson Announces Dividend
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 paid a dividend of $0.83 per share. 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 1.55%. Ferguson's payout ratio is 41.40%.
Institutional Investors Weigh In On Ferguson
A number of large investors have recently modified their holdings of FERG. Parnassus Investments LLC grew its stake in shares of Ferguson by 944.4% during the fourth quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company's stock worth $613,944,000 after acquiring an additional 3,198,477 shares during the last quarter. Norges Bank purchased a new stake in shares of Ferguson during the fourth quarter worth about $469,730,000. T. Rowe Price Investment Management Inc. grew its stake in shares of Ferguson by 101.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,165,873 shares of the company's stock worth $667,498,000 after acquiring an additional 2,094,029 shares during the last quarter. Barclays PLC grew its stake in shares of Ferguson by 208.8% during the fourth quarter. Barclays PLC now owns 2,678,880 shares of the company's stock worth $464,973,000 after acquiring an additional 1,811,287 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Ferguson by 65.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,454,467 shares of the company's stock worth $713,740,000 after acquiring an additional 1,755,464 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company's stock.
Ferguson Company Profile
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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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