Ferguson (NYSE:FERG) Releases Earnings Results

Ferguson (NYSE:FERG) announced its earnings results on Monday. The company reported $3.43 EPS for the quarter, FiscalAI reports. The business had revenue of $9.03 billion during the quarter. Ferguson had a return on equity of 37.24% and a net margin of 6.82%.

Ferguson Stock Performance

Shares of FERG stock opened at $233.95 on Monday. Ferguson has a fifty-two week low of $212.13 and a fifty-two week high of $271.64. The stock’s 50-day moving average is $225.41 and its two-hundred day moving average is $237.16. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 0.93. The firm has a market cap of $45.26 billion, a P/E ratio of 27.49, a PEG ratio of 1.69 and a beta of 1.11.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 8th. Shareholders of record on Friday, November 20th will be paid a $0.89 dividend. The ex-dividend date is Friday, November 20th. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. Ferguson’s payout ratio is 41.83%.

Analyst Ratings Changes

Several research firms have issued reports on FERG. Zelman & Associates upgraded Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price objective on the stock in a report on Friday, July 17th. Barclays lifted their target price on shares of Ferguson from $297.00 to $313.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Ferguson from $261.00 to $235.00 in a report on Thursday, October 8th. UBS Group upped their price target on shares of Ferguson from $252.00 to $256.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Finally, Melius Research assumed coverage on shares of Ferguson in a research report on Tuesday, October 6th. They issued a “hold” rating and a $252.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Ferguson currently has a consensus rating of “Moderate Buy” and a consensus target price of $287.44.

Insider Buying and Selling at Ferguson

In related news, insider Kevin Murphy sold 1,776 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $224.50, for a total value of $398,712.00. Following the completion of the sale, the insider owned 168,440 shares of the company’s stock, valued at approximately $37,814,780. The trade was a 1.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Allison Stirrup sold 922 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $225.00, for a total value of $207,450.00. Following the completion of the sale, the insider directly owned 7,038 shares of the company’s stock, valued at approximately $1,583,550. The trade was a 11.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 38,808 shares of company stock worth $8,571,587 over the last quarter. Insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Wedbush Securities Inc. raised its position in Ferguson by 4.3% in the second quarter. Wedbush Securities Inc. now owns 1,197 shares of the company’s stock worth $284,000 after purchasing an additional 49 shares in the last quarter. REAP Financial Group LLC boosted its holdings in Ferguson by 9.8% during the third quarter. REAP Financial Group LLC now owns 581 shares of the company’s stock valued at $129,000 after purchasing an additional 52 shares in the last quarter. L2 Asset Management LLC boosted its holdings in Ferguson by 5.2% during the second quarter. L2 Asset Management LLC now owns 1,109 shares of the company’s stock valued at $263,000 after purchasing an additional 55 shares in the last quarter. Cidel Asset Management Inc. grew its stake in shares of Ferguson by 3.8% in the 2nd quarter. Cidel Asset Management Inc. now owns 1,541 shares of the company’s stock valued at $366,000 after purchasing an additional 56 shares during the period. Finally, Virtue Capital Management LLC grew its stake in shares of Ferguson by 4.6% in the 3rd quarter. Virtue Capital Management LLC now owns 1,324 shares of the company’s stock valued at $295,000 after purchasing an additional 58 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Company Profile

Ferguson plc is a distributor of plumbing, heating, ventilation and air conditioning (HVAC), waterworks, and fire protection products. It supplies contractors and other professional customers with products, services, and expertise for residential, commercial, industrial, and infrastructure projects.

The company serves customers primarily in the United States and Canada through branches, distribution centers, and digital channels. Its offerings include pipes, valves and fittings, plumbing fixtures, HVAC equipment, water and wastewater products, and fire protection systems.

Ferguson traces its history to Wolseley, a British company that entered the plumbing and heating distribution business in the 1950s.