Ferguson plc Declares Quarterly Dividend of $0.83 (NASDAQ:FERG)

Ferguson plc (NASDAQ:FERG - Get Free Report) declared a quarterly dividend on Thursday, May 29th, RTT News reports. Stockholders of record on Friday, June 20th will be given a dividend of 0.83 per share on Wednesday, August 6th. This represents a $3.32 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Friday, June 20th.

Ferguson has a payout ratio of 29.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Ferguson to earn $10.62 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 29.8%.

Ferguson Stock Performance

Shares of FERG stock traded down $0.65 during trading on Friday, hitting $182.43. The company's stock had a trading volume of 2,856,524 shares, compared to its average volume of 1,626,746. The company has a market cap of $36.48 billion, a PE ratio of 21.90, a P/E/G ratio of 1.69 and a beta of 1.14. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The business has a fifty day moving average of $169.02 and a 200-day moving average of $177.88. Ferguson has a 52 week low of $146.00 and a 52 week high of $225.63.

Ferguson (NASDAQ:FERG - Get Free Report) last released its earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.06). The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.76 billion. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The business's revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.74 earnings per share. As a group, research analysts anticipate that Ferguson will post 9.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FERG. Citigroup reduced their target price on Ferguson from $189.00 to $168.00 and set a "neutral" rating for the company in a report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft assumed coverage on Ferguson in a research report on Tuesday, April 1st. They issued a "hold" rating and a $174.00 target price for the company. Oppenheimer decreased their target price on Ferguson from $234.00 to $189.00 and set an "outperform" rating for the company in a research report on Wednesday, March 12th. Wells Fargo & Company raised their target price on Ferguson from $180.00 to $190.00 and gave the stock an "overweight" rating in a research report on Monday, April 14th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $189.00 target price on shares of Ferguson in a research report on Tuesday, March 18th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Ferguson has a consensus rating of "Moderate Buy" and a consensus price target of $200.15.

Institutional Investors Weigh In On Ferguson

Several large investors have recently added to or reduced their stakes in the business. Focus Partners Wealth boosted its stake in Ferguson by 22.7% during the first quarter. Focus Partners Wealth now owns 3,140 shares of the company's stock valued at $503,000 after buying an additional 581 shares during the period. Caxton Associates LLP bought a new stake in Ferguson during the first quarter valued at $310,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 buying an additional 2,940 shares during the period. 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.