Ferguson plc (NASDAQ:FERG) Announces $0.83 Quarterly Dividend

Ferguson plc (NASDAQ:FERG) declared a quarterly dividend on Thursday, May 29th, RTT News reports. Shareholders of record on Friday, June 20th will be paid a dividend of 0.83 per share on Wednesday, August 6th. This represents a $3.32 dividend on an annualized basis and a yield of 1.81%.

Ferguson has a dividend payout ratio of 29.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ferguson to earn $10.62 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 29.8%.

Ferguson Stock Up 0.5%

Shares of FERG stock opened at $183.34 on Friday. Ferguson has a 12-month low of $146.00 and a 12-month high of $225.63. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The firm has a fifty day moving average of $168.68 and a 200-day moving average of $178.23. The company has a market capitalization of $36.66 billion, a price-to-earnings ratio of 22.01, a P/E/G ratio of 1.69 and a beta of 1.14.

Ferguson (NASDAQ:FERG) last announced its earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.06). The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.76 billion. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. Ferguson’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.74 earnings per share. As a group, equities research analysts predict that Ferguson will post 9.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FERG shares. Wells Fargo & Company upped their price objective on Ferguson from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, April 14th. Oppenheimer reduced their price target on Ferguson from $234.00 to $189.00 and set an “outperform” rating for the company in a research report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferguson in a report on Tuesday, April 1st. They issued a “hold” rating and a $174.00 price objective on the stock. Morgan Stanley started coverage on shares of Ferguson in a report on Monday, February 3rd. They set an “overweight” rating and a $204.00 target price for the company. Finally, Citigroup decreased their target price on shares of Ferguson from $189.00 to $168.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Ferguson currently has an average rating of “Moderate Buy” and a consensus target price of $200.15.

Hedge Funds Weigh In On Ferguson

Institutional investors have recently added to or reduced their stakes in the company. Caxton Associates LLP bought a new position in shares of Ferguson in the 1st quarter valued at about $310,000. Focus Partners Wealth raised its holdings in shares of Ferguson by 22.7% in the 1st quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock valued at $503,000 after purchasing an additional 581 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Ferguson by 23.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock valued at $2,445,000 after purchasing an additional 2,940 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Company Profile

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.