Ferguson (NASDAQ:FERG) PT Raised to $219.00 at Royal Bank of Canada

Ferguson (NASDAQ:FERG) had its price objective hoisted by Royal Bank of Canada from $211.00 to $219.00 in a report issued on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently issued reports on FERG. Barclays decreased their price target on Ferguson from $232.00 to $229.00 and set an overweight rating on the stock in a report on Friday, July 12th. Jefferies Financial Group lifted their price target on shares of Ferguson from $238.00 to $250.00 and gave the stock a buy rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $231.57.

Ferguson Trading Down 5.6 %

FERG opened at $196.52 on Wednesday. Ferguson has a 1-year low of $147.62 and a 1-year high of $225.63. The stock has a market capitalization of $39.69 billion, a PE ratio of 21.48, a PEG ratio of 6.13 and a beta of 1.21. The company has a current ratio of 1.68, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $204.73 and a two-hundred day moving average price of $206.82.

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

Ferguson declared that its board has authorized a stock buyback program on Tuesday, June 4th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Friday, September 27th. Ferguson’s dividend payout ratio is currently 34.54%.

Hedge Funds Weigh In On Ferguson

Institutional investors and hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC bought a new position in Ferguson in the second quarter valued at approximately $976,000. Kestra Investment Management LLC acquired a new stake in shares of Ferguson during the second quarter worth $536,000. Clearbridge Investments LLC lifted its position in Ferguson by 20.7% in the 2nd quarter. Clearbridge Investments LLC now owns 176,231 shares of the company’s stock valued at $34,127,000 after acquiring an additional 30,186 shares in the last quarter. Regency Capital Management Inc. DE boosted its stake in Ferguson by 7.0% in the 2nd quarter. Regency Capital Management Inc. DE now owns 5,166 shares of the company’s stock worth $1,000,000 after purchasing an additional 339 shares during the period. Finally, Ascent Group LLC increased its holdings in Ferguson by 11.5% during the 2nd quarter. Ascent Group LLC now owns 7,321 shares of the company’s stock worth $1,418,000 after purchasing an additional 753 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

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.