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

Ferguson plc (NYSE:FERG) has been given an average rating of “Moderate Buy” by the sixteen analysts that are presently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $277.5825.

Several research analysts have issued reports on FERG shares. Barclays upped their price objective on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Royal Bank Of Canada upped their price objective on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Weiss Ratings downgraded Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Finally, Wells Fargo & Company upped their price objective on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th.

Ferguson Stock Performance

NYSE:FERG opened at $236.58 on Wednesday. Ferguson has a 1 year low of $207.64 and a 1 year high of $271.64. The firm has a 50 day moving average of $237.84 and a 200-day moving average of $240.22. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $45.88 billion, a P/E ratio of 27.51, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15.

Ferguson (NYSE:FERG) last issued its quarterly 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 38.81%. The business had revenue of $7.47 billion during the quarter. During the same period in the prior year, the business earned $2.50 EPS. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Ferguson will post 11.26 EPS for the current fiscal year.

Ferguson Dividend Announcement

The firm 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 payout ratio is presently 41.40%.

Ferguson announced that its Board of Directors has approved a stock repurchase plan on Tuesday, May 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Ferguson

Institutional investors and hedge funds have recently made changes to their positions in the business. Basepoint Wealth LLC bought a new stake in shares of Ferguson during the 4th quarter valued at $26,000. Leonteq Securities AG bought a new stake in shares of Ferguson during the 4th quarter valued at $26,000. Central Pacific Bank Trust Division bought a new stake in shares of Ferguson during the 4th quarter valued at $27,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Ferguson during the 3rd quarter valued at $28,000. Finally, Zions Bancorporation National Association UT raised its position in shares of Ferguson by 123.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after acquiring an additional 79 shares during 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.