Ferguson plc (NYSE:FERG) Given Average Rating of “Moderate Buy” by Analysts

Ferguson plc (NYSE:FERG) has received an average recommendation of “Moderate Buy” from the eighteen analysts that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $269.7327.

Several equities analysts have weighed in on the company. Jefferies Financial Group reissued a “buy” rating and set a $300.00 price objective on shares of Ferguson in a report on Tuesday, February 24th. Citigroup restated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Royal Bank Of Canada increased their price target on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Weiss Ratings lowered Ferguson from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Finally, Oppenheimer increased their target price on shares of Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th.

Ferguson Stock Performance

NYSE FERG opened at $244.26 on Tuesday. The company has a market capitalization of $47.37 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 1.71 and a beta of 1.23. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88. Ferguson has a 52-week low of $173.53 and a 52-week high of $271.64. The company has a 50-day simple moving average of $242.79 and a 200 day simple moving average of $244.08.

Ferguson (NYSE:FERG) last released its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.14. Ferguson had a net margin of 6.98% and a return on equity of 38.92%. The firm had revenue of $7.47 billion during the quarter. During the same period in the prior year, the company earned $2.50 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. On average, research analysts predict that Ferguson will post 11.23 EPS for the current year.

Ferguson declared that its board has approved a share buyback program on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be given a dividend of $0.89 per share. The ex-dividend date is Friday, May 15th. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. Ferguson’s dividend payout ratio is currently 40.36%.

Institutional Trading of Ferguson

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its position in Ferguson by 3.3% during the first quarter. PNC Financial Services Group Inc. now owns 11,311 shares of the company’s stock valued at $2,638,000 after buying an additional 359 shares during the period. Oslo Pensjonsforsikring AS purchased a new position in Ferguson during the first quarter valued at $365,000. AlTi Global Inc. purchased a new position in shares of Ferguson during the first quarter valued at approximately $700,000. Dimensional Fund Advisors LP grew its stake in shares of Ferguson by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,751,929 shares of the company’s stock worth $408,534,000 after buying an additional 11,533 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in Ferguson by 9.5% during the 1st quarter. Parallel Advisors LLC now owns 1,629 shares of the company’s stock valued at $380,000 after buying an additional 142 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors.

Ferguson Company Profile

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.