Ferguson (NASDAQ:FERG) PT Raised to $225.00 at Robert W. Baird

Ferguson (NASDAQ:FERG) had its target price lifted by Robert W. Baird from $222.00 to $225.00 in a report released on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

FERG has been the subject of several other research reports. Jefferies Financial Group boosted their price target on Ferguson from $238.00 to $250.00 and gave the company a buy rating in a research note on Wednesday, July 17th. Royal Bank of Canada increased their price target on shares of Ferguson from $211.00 to $219.00 and gave the stock an outperform rating in a research note on Wednesday. Finally, Barclays cut their price target on shares of Ferguson from $232.00 to $229.00 and set an overweight rating on the stock in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $231.57.

Ferguson Trading Down 5.6 %

Shares of NASDAQ:FERG opened at $196.52 on Wednesday. The firm has a fifty day moving average of $204.73 and a two-hundred day 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. Ferguson has a 12-month low of $147.62 and a 12-month high of $225.63. The firm has a market capitalization of $39.69 billion, a P/E ratio of 21.48, a price-to-earnings-growth ratio of 6.13 and a beta of 1.21.

Ferguson (NASDAQ:FERG) last released its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.12. Ferguson had a return on equity of 36.89% and a net margin of 6.33%. The firm had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $8.01 billion. During the same quarter last year, the firm earned $2.77 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities analysts expect that Ferguson will post 9.63 EPS for the current fiscal year.

Ferguson declared that its board has authorized a share buyback program on Tuesday, June 4th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 2.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Ferguson Announces Dividend

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

Hedge Funds Weigh In On Ferguson

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

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.