Ferguson (NYSE:FERG) Reaches New 52-Week High – Here’s Why

Ferguson plc (NYSE:FERG)’s share price hit a new 52-week high on Thursday . The stock traded as high as $267.66 and last traded at $266.9730, with a volume of 2073773 shares trading hands. The stock had previously closed at $263.88.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FERG shares. Jefferies Financial Group boosted their price target on Ferguson from $268.00 to $289.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. Vertical Research began coverage on shares of Ferguson in a report on Monday, October 20th. They issued a “buy” rating and a $291.99 price objective for the company. UBS Group dropped their target price on shares of Ferguson from $225.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, December 10th. Royal Bank Of Canada restated an “outperform” rating on shares of Ferguson in a research report on Friday, January 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Ferguson in a report on Tuesday, January 6th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Ferguson has an average rating of “Moderate Buy” and a consensus price target of $253.00.

Ferguson Trading Down 0.9%

The firm’s 50-day simple moving average is $240.98 and its 200 day simple moving average is $237.61. The stock has a market cap of $51.10 billion, a P/E ratio of 26.40, a PEG ratio of 2.19 and a beta of 1.18. The company has a current ratio of 1.88, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68.

Ferguson (NYSE:FERG) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.07. Ferguson had a return on equity of 35.73% and a net margin of 6.28%.The business had revenue of $8.17 billion during the quarter. During the same quarter in the prior year, the firm posted $2.45 earnings per share. The business’s quarterly revenue was up 5.1% on a year-over-year basis.

Ferguson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, January 2nd will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.4%. This is a positive change from Ferguson’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Friday, January 2nd. Ferguson’s dividend payout ratio is 35.96%.

Hedge Funds Weigh In On Ferguson

A number of institutional investors and hedge funds have recently bought and sold shares of FERG. Rakuten Investment Management Inc. bought a new stake in Ferguson during the 3rd quarter worth about $1,002,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Ferguson by 11.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,523 shares of the company’s stock worth $4,609,000 after purchasing an additional 2,145 shares in the last quarter. Allianz Asset Management GmbH grew its stake in shares of Ferguson by 21.0% during the third quarter. Allianz Asset Management GmbH now owns 322,924 shares of the company’s stock valued at $72,522,000 after purchasing an additional 55,981 shares during the last quarter. iA Global Asset Management Inc. bought a new stake in shares of Ferguson during the third quarter valued at approximately $1,252,000. Finally, C WorldWide Group Holding A S increased its holdings in shares of Ferguson by 108.8% in the third quarter. C WorldWide Group Holding A S now owns 535,363 shares of the company’s stock valued at $120,232,000 after purchasing an additional 278,971 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

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.