Ferguson plc (NASDAQ:FERG) Receives Average Recommendation of “Moderate Buy” from Analysts

Ferguson plc (NASDAQ:FERG) has been given an average rating of “Moderate Buy” by the twelve ratings firms that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $201.64.

A number of analysts recently issued reports on the company. Robert W. Baird set a $190.00 price objective on Ferguson and gave the stock an “outperform” rating in a report on Wednesday. Oppenheimer lowered their price target on shares of Ferguson from $234.00 to $189.00 and set an “outperform” rating on the stock in a report on Wednesday. Royal Bank of Canada reduced their price objective on shares of Ferguson from $211.00 to $189.00 and set an “outperform” rating for the company in a research note on Wednesday. Bank of America upgraded shares of Ferguson from an “underperform” rating to a “buy” rating and increased their target price for the stock from $185.00 to $225.00 in a research note on Wednesday, January 8th. Finally, Barclays cut their price target on shares of Ferguson from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday.

Ferguson Stock Performance

NASDAQ FERG opened at $155.94 on Thursday. The firm has a market cap of $31.18 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. 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 company’s 50 day moving average is $176.55 and its 200-day moving average is $190.86. Ferguson has a 12-month low of $154.09 and a 12-month high of $225.63.

Ferguson (NASDAQ:FERG) last issued its earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.06). The business had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.76 billion. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.74 EPS. Sell-side analysts predict that Ferguson will post 9.4 earnings per share for the current year.

Ferguson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $3.32 dividend on an annualized basis and a yield of 2.13%. Ferguson’s payout ratio is 39.86%.

Hedge Funds Weigh In On Ferguson

Hedge funds and other institutional investors have recently modified their holdings of the company. Parnassus Investments LLC lifted its position in Ferguson by 944.4% in the 4th quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company’s stock worth $613,944,000 after buying an additional 3,198,477 shares during the last quarter. Norges Bank purchased a new position in shares of Ferguson during the fourth quarter worth approximately $469,730,000. Barclays PLC lifted its holdings in shares of Ferguson by 208.8% in the 4th quarter. Barclays PLC now owns 2,678,880 shares of the company’s stock worth $464,973,000 after acquiring an additional 1,811,287 shares during the last quarter. FMR LLC boosted its stake in shares of Ferguson by 18.2% in the 4th quarter. FMR LLC now owns 10,007,892 shares of the company’s stock valued at $1,740,049,000 after purchasing an additional 1,539,889 shares in the last quarter. Finally, Schroder Investment Management Group bought a new position in shares of Ferguson during the 4th quarter valued at $239,539,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

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.