Ferguson (NASDAQ:FERG) Releases Quarterly Earnings Results, Beats Expectations By $0.54 EPS

Key Points

• Ferguson reported a quarterly EPS of $3.55, exceeding expectations by $0.54, with a net margin of 5.68% and a return on equity of 34.63%.
• The company declared a quarterly dividend of $0.83 per share, resulting in an annualized dividend of $3.32 and a yield of 1.5%.
• Ferguson has received positive ratings from several analysts, with a consensus target price of $221.00 and many firms reaffirming a "buy" rating.

Ferguson (NASDAQ:FERG - Get Free Report) posted its earnings results on Tuesday. The company reported $3.55 EPS for the quarter, topping the consensus estimate of $3.01 by $0.54, RTT News reports. Ferguson had a net margin of 5.68% and a return on equity of 34.63%.

Ferguson Price Performance

Shares of NASDAQ:FERG opened at $214.38 on Tuesday. 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 firm has a fifty day moving average price of $226.45 and a 200 day moving average price of $196.87. Ferguson has a fifty-two week low of $146.00 and a fifty-two week high of $243.40. The firm has a market cap of $42.27 billion, a price-to-earnings ratio of 25.74, a P/E/G ratio of 1.69 and a beta of 1.15.

Ferguson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, September 26th will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, September 26th. Ferguson's dividend payout ratio is presently 41.40%.

Institutional Investors Weigh In On Ferguson

A number of hedge funds have recently bought and sold shares of FERG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Ferguson by 23.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company's stock valued at $2,445,000 after purchasing an additional 2,940 shares in the last quarter. Caxton Associates LLP purchased a new position in Ferguson in the 1st quarter worth about $310,000. Focus Partners Wealth increased its stake in Ferguson by 22.7% in the 1st quarter. Focus Partners Wealth now owns 3,140 shares of the company's stock worth $503,000 after buying an additional 581 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Ferguson by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company's stock worth $150,000 after acquiring an additional 48 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Ferguson by 292.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 24,457 shares of the company's stock worth $5,330,000 after acquiring an additional 18,223 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on FERG. Truist Financial reaffirmed a "buy" rating and issued a $230.00 target price on shares of Ferguson in a research report on Wednesday, June 4th. JPMorgan Chase & Co. raised their target price on shares of Ferguson from $220.00 to $225.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Royal Bank Of Canada lifted their price target on shares of Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Morgan Stanley reissued an "overweight" rating on shares of Ferguson in a research report on Wednesday, September 10th. Finally, Wells Fargo & Company lifted their price target on shares of Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Ferguson has a consensus rating of "Moderate Buy" and a consensus target price of $221.00.

Ferguson Company Profile

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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