Ferguson (NASDAQ:FERG) Price Target Increased to $219.00 by Analysts at Royal Bank of Canada

Ferguson (NASDAQ:FERG) had its price objective lifted by Royal Bank of Canada from $211.00 to $219.00 in a report released on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Barclays dropped their price objective on Ferguson from $232.00 to $229.00 and set an overweight rating on the stock in a research note on Friday, July 12th. Jefferies Financial Group lifted their price objective on shares of Ferguson from $238.00 to $250.00 and gave the company a buy rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Ferguson has a consensus rating of Moderate Buy and a consensus target price of $231.57.

Ferguson Stock Down 5.6 %

Ferguson stock opened at $196.52 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64. Ferguson has a 1-year low of $147.62 and a 1-year high of $225.63. The company has a fifty day simple moving average of $204.73 and a 200 day simple moving average of $206.82. The company has a market cap of $39.69 billion, a P/E ratio of 21.48, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.12. Ferguson had a return on equity of 36.89% and a net margin of 6.33%. The business had revenue of $7.95 billion for the quarter, compared to the consensus estimate of $8.01 billion. During the same quarter in the previous year, the business earned $2.77 earnings per share. Ferguson’s quarterly revenue was up 1.4% on a year-over-year basis. Research analysts anticipate that Ferguson will post 9.63 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Friday, September 27th. Ferguson’s dividend payout ratio is presently 34.54%.

Ferguson declared that its Board of Directors has approved a share buyback plan on Tuesday, June 4th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Ferguson

A number of large investors have recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new position in Ferguson in the 2nd quarter valued at $976,000. Kestra Investment Management LLC bought a new stake in shares of Ferguson in the second quarter valued at about $536,000. Clearbridge Investments LLC grew its stake in shares of Ferguson by 20.7% in the second quarter. Clearbridge Investments LLC now owns 176,231 shares of the company’s stock valued at $34,127,000 after acquiring an additional 30,186 shares in the last quarter. Regency Capital Management Inc. DE increased its position in Ferguson by 7.0% during the second quarter. Regency Capital Management Inc. DE now owns 5,166 shares of the company’s stock worth $1,000,000 after acquiring an additional 339 shares during the period. Finally, Ascent Group LLC raised its stake in Ferguson by 11.5% in 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 in the last quarter. Institutional investors own 81.98% of the company’s stock.

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.