Ferguson (NASDAQ:FERG) Price Target Raised to $236.00

Ferguson (NASDAQ:FERG) had its price objective raised by UBS Group from $228.00 to $236.00 in a report published on Wednesday, Benzinga reports. UBS Group currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Royal Bank of Canada lifted their target price on shares of Ferguson from $211.00 to $219.00 and gave the stock an outperform rating in a report on Wednesday. Barclays reduced their price target on shares of Ferguson from $232.00 to $229.00 and set an overweight rating on the stock in a research 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. Finally, Robert W. Baird lifted their price target on shares of Ferguson from $222.00 to $225.00 and gave the stock an outperform rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $231.57.

Ferguson Price Performance

FERG opened at $196.52 on Wednesday. The company has a fifty day moving average price of $204.88 and a two-hundred day moving average price of $206.95. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68. Ferguson has a 52 week low of $147.62 and a 52 week high of $225.63. The firm has a market capitalization of $39.69 billion, a PE ratio of 21.48, a P/E/G ratio of 6.13 and a beta of 1.21.

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

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

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders 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 annualized dividend and a yield of 1.61%. Ferguson’s payout ratio is currently 34.54%.

Institutional Investors Weigh In On Ferguson

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new stake in Ferguson in the 2nd quarter valued at $976,000. Kestra Investment Management LLC acquired a new position in shares of Ferguson during the 2nd quarter worth about $536,000. Clearbridge Investments LLC increased its stake in shares of Ferguson by 20.7% during the 2nd quarter. Clearbridge Investments LLC now owns 176,231 shares of the company’s stock worth $34,127,000 after purchasing an additional 30,186 shares during the last quarter. Regency Capital Management Inc. DE increased its stake in shares of Ferguson by 7.0% during 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 last quarter. Finally, Ascent Group LLC increased its stake in shares of 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 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.