Ferguson (NYSE:FERG) Sets New 1-Year Low – Here’s Why

Shares of Ferguson plc (NYSE:FERG) hit a new 52-week low during trading on Tuesday . The stock traded as low as $212.13 and last traded at $215.94, with a volume of 1220225 shares traded. The stock had previously closed at $214.43.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FERG. Wells Fargo & Company boosted their target price on shares of Ferguson from $285.00 to $295.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Zelman & Associates upgraded shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price target for the company in a research note on Friday, July 17th. Sanford C. Bernstein lifted their price target on shares of Ferguson from $310.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Barclays upped their price objective on Ferguson from $297.00 to $313.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Finally, Wolfe Research began coverage on Ferguson in a research report on Tuesday, September 15th. They issued a “peer perform” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $285.57.

Ferguson Trading Up 0.3%

The firm has a 50-day simple moving average of $233.01 and a 200-day simple moving average of $234.82. The company has a quick ratio of 0.93, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. The stock has a market cap of $42.92 billion, a PE ratio of 26.07, a P/E/G ratio of 1.53 and a beta of 1.13.

Ferguson (NYSE:FERG) last released its quarterly earnings data on Monday, August 10th. The company reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.16. The company had revenue of $8.75 billion for the quarter. Ferguson had a return on equity of 37.24% and a net margin of 6.82%. Equities analysts forecast that Ferguson plc will post 11.42 earnings per share for the current year.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Friday, August 21st will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 21st. Ferguson’s dividend payout ratio is presently 41.83%.

Insider Activity at Ferguson

In other news, insider Jake Schlicher sold 5,177 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $230.92, for a total value of $1,195,472.84. Following the completion of the transaction, the insider directly owned 9,490 shares in the company, valued at approximately $2,191,430.80. This trade represents a 35.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Ferguson

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Raiffeisen Bank International AG lifted its stake in Ferguson by 350,745.0% during the fourth quarter. Raiffeisen Bank International AG now owns 522,759 shares of the company’s stock worth $116,382,000 after purchasing an additional 522,610 shares during the last quarter. Saudi Central Bank increased its position in shares of Ferguson by 88.5% during the 2nd quarter. Saudi Central Bank now owns 13,607 shares of the company’s stock valued at $3,229,000 after purchasing an additional 6,389 shares during the last quarter. Marsico Capital Management LLC purchased a new position in shares of Ferguson during the 4th quarter valued at about $11,017,000. Jones Financial Companies Lllp raised its holdings in shares of Ferguson by 13.2% during the 2nd quarter. Jones Financial Companies Lllp now owns 96,108 shares of the company’s stock valued at $22,932,000 after buying an additional 11,196 shares in the last quarter. Finally, Lmcg Investments LLC bought a new stake in Ferguson in the 1st quarter worth approximately $1,806,000. 81.98% of the stock is owned by hedge funds and other institutional investors.

About Ferguson

Ferguson plc (NYSE: FERG) is a value-added distributor of plumbing and heating products, water and wastewater solutions, fire protection equipment, HVAC supplies, and related products. The company primarily serves professional contractors and other trade customers, helping them source products, obtain technical support, and manage projects through its distribution network and digital platforms.

Ferguson operates mainly in North America, with businesses serving residential and commercial construction, infrastructure, facilities maintenance, and industrial markets in the United States and Canada.