Ferguson plc (NYSE:FERG) Receives $268.93 Consensus Price Target from Brokerages

Shares of Ferguson plc (NYSE:FERG) have received a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $268.9327.

Several research firms have commented on FERG. UBS Group increased their price target on shares of Ferguson from $220.00 to $252.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Ferguson in a research report on Tuesday, February 24th. Royal Bank Of Canada increased their target price on shares of Ferguson from $247.00 to $271.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Wells Fargo & Company raised their target price on shares of Ferguson from $280.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Finally, Truist Financial lifted their price target on shares of Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th.

Institutional Investors Weigh In On Ferguson

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Daymark Wealth Partners LLC increased its holdings in shares of Ferguson by 4.6% during the third quarter. Daymark Wealth Partners LLC now owns 992 shares of the company’s stock valued at $223,000 after acquiring an additional 44 shares in the last quarter. Signaturefd LLC boosted its stake in Ferguson by 1.1% in the 4th quarter. Signaturefd LLC now owns 3,979 shares of the company’s stock worth $886,000 after purchasing an additional 44 shares in the last quarter. Simplicity Wealth LLC boosted its stake in Ferguson by 1.6% in the 4th quarter. Simplicity Wealth LLC now owns 3,132 shares of the company’s stock worth $697,000 after purchasing an additional 48 shares in the last quarter. Sivia Capital Partners LLC grew its position in Ferguson by 2.9% during the 4th quarter. Sivia Capital Partners LLC now owns 1,685 shares of the company’s stock worth $375,000 after purchasing an additional 48 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position 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 purchasing an additional 48 shares during the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Stock Down 2.0%

Shares of Ferguson stock opened at $221.40 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01. Ferguson has a 1 year low of $146.00 and a 1 year high of $271.64. The firm’s 50-day moving average is $248.75 and its two-hundred day moving average is $240.23. The stock has a market cap of $43.04 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 1.83 and a beta of 1.17.

Ferguson (NYSE:FERG) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $1.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.25). Ferguson had a net margin of 6.93% and a return on equity of 40.37%. Ferguson’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.52 EPS.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, March 6th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, March 6th. Ferguson’s payout ratio is 35.96%.

About Ferguson

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.