Ferguson plc (NYSE:FERG) Given Consensus Rating of “Moderate Buy” by Brokerages

Ferguson plc (NYSE:FERG) has been assigned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $269.7327.

FERG has been the subject of several recent research reports. Barclays boosted their price objective on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Truist Financial boosted their price objective on Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Citigroup restated a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Royal Bank Of Canada boosted their price objective on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings downgraded Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th.

Ferguson Price Performance

Ferguson stock opened at $225.88 on Friday. The stock’s 50 day moving average is $240.53 and its 200 day moving average is $242.07. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 1.01. The firm has a market cap of $43.81 billion, a P/E ratio of 26.27, a P/E/G ratio of 1.60 and a beta of 1.23. Ferguson has a one year low of $177.75 and a one year high of $271.64.

Ferguson (NYSE:FERG) last issued its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. The business had revenue of $7.47 billion during the quarter. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.50 earnings per share. As a group, research analysts expect that Ferguson will post 11.26 EPS for the current year.

Ferguson declared that its Board of Directors has initiated a stock buyback plan on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.56 annualized dividend and a dividend yield of 1.6%. Ferguson’s payout ratio is presently 41.40%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FERG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Ferguson by 23.9% during 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 buying an additional 2,940 shares during the last quarter. Caxton Associates LLP purchased a new stake in Ferguson during the 1st quarter worth about $310,000. Focus Partners Wealth lifted its holdings in Ferguson by 22.7% during the 1st quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock worth $503,000 after purchasing an additional 581 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Ferguson during the 2nd quarter worth about $257,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Ferguson by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock worth $150,000 after purchasing an additional 48 shares in the last quarter. Hedge funds and other 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.