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

Ferguson plc (NYSE:FERG)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $263.14 and last traded at $260.9590, with a volume of 330036 shares traded. The stock had previously closed at $254.75.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Sanford C. Bernstein reiterated an “outperform” rating on shares of Ferguson in a research report on Thursday, January 8th. JPMorgan Chase & Co. lifted their price target on Ferguson from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. UBS Group reduced their price objective on Ferguson from $225.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, December 10th. Vertical Research started coverage on shares of Ferguson in a research report on Monday, October 20th. They set a “buy” rating and a $291.99 target price on the stock. Finally, Wall Street Zen cut shares of Ferguson from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $253.00.

Ferguson Stock Up 2.8%

The company has a market capitalization of $51.20 billion, a PE ratio of 26.48, a P/E/G ratio of 2.17 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. The firm has a 50 day simple moving average of $239.50 and a two-hundred day simple moving average of $235.98.

Ferguson (NYSE:FERG) last issued its quarterly earnings results on Tuesday, December 9th. The company reported $2.84 earnings per share 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 firm had revenue of $8.17 billion during the quarter. During the same period in the prior year, the business earned $2.45 earnings per share. Ferguson’s revenue for the quarter was up 5.1% compared to the same quarter last year.

Ferguson Increases Dividend

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

Institutional Investors Weigh In On Ferguson

A number of hedge funds have recently added to or reduced their stakes in FERG. Leonteq Securities AG acquired a new position in Ferguson during the 4th quarter worth approximately $26,000. Central Pacific Bank Trust Division acquired a new stake in shares of Ferguson in the 4th quarter valued at approximately $27,000. True Wealth Design LLC boosted its stake in shares of Ferguson by 145.3% in the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock valued at $28,000 after buying an additional 77 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Ferguson during the third quarter worth $28,000. Finally, Cornerstone Planning Group LLC raised its position in Ferguson by 178.3% in the third quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock worth $31,000 after acquiring an additional 82 shares in the last quarter. Institutional investors and hedge funds 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.