Ferguson (NASDAQ:FERG) PT Raised to $221.00 at Citigroup

Ferguson (NASDAQ:FERG) had its target price boosted by Citigroup from $203.00 to $221.00 in a research report report published on Wednesday morning, Marketbeat reports. The firm currently has a neutral rating on the stock.

Several other brokerages have also issued reports on FERG. UBS Group lifted their price target on Ferguson from $228.00 to $236.00 and gave the company a buy rating in a research note on Wednesday. Royal Bank of Canada lifted their target price on Ferguson from $211.00 to $219.00 and gave the company an outperform rating in a research report on Wednesday. Barclays increased their target price on shares of Ferguson from $229.00 to $245.00 and gave the stock an overweight rating in a report on Wednesday. Robert W. Baird lifted their price target on shares of Ferguson from $222.00 to $225.00 and gave the company an outperform rating in a report on Wednesday. Finally, Jefferies Financial Group increased their price objective on shares of Ferguson from $238.00 to $250.00 and gave the company a buy rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $231.57.

Ferguson Stock Down 5.6 %

FERG stock opened at $196.52 on Wednesday. Ferguson has a 52 week low of $147.62 and a 52 week high of $225.63. The business has a 50-day simple moving average of $204.73 and a 200 day simple moving average of $206.82. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The company has a market cap of $39.69 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 6.13 and a beta of 1.21.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12. The company had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $8.01 billion. Ferguson had a net margin of 6.33% and a return on equity of 36.89%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.77 EPS. Sell-side analysts anticipate that Ferguson will post 9.63 EPS for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.16 annualized dividend and a yield of 1.61%. Ferguson’s dividend payout ratio is presently 34.54%.

Ferguson declared that its Board of Directors has initiated a stock buyback plan on Tuesday, June 4th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Ferguson

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BayBridge Capital Group LLC grew its position in shares of Ferguson by 2.0% in the 1st quarter. BayBridge Capital Group LLC now owns 2,373 shares of the company’s stock valued at $494,000 after buying an additional 47 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of Ferguson by 3.0% in the first quarter. Verdence Capital Advisors LLC now owns 1,663 shares of the company’s stock worth $363,000 after acquiring an additional 48 shares during the period. OneAscent Financial Services LLC boosted its holdings in Ferguson by 1.9% in the first quarter. OneAscent Financial Services LLC now owns 2,584 shares of the company’s stock valued at $565,000 after acquiring an additional 49 shares during the last quarter. Perigon Wealth Management LLC increased its position in Ferguson by 3.6% during the 1st quarter. Perigon Wealth Management LLC now owns 1,568 shares of the company’s stock valued at $342,000 after purchasing an additional 55 shares during the period. Finally, Oppenheimer & Co. Inc. raised its holdings in Ferguson by 1.8% during the 1st quarter. Oppenheimer & Co. Inc. now owns 3,142 shares of the company’s stock worth $686,000 after purchasing an additional 57 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

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.