Ferguson plc (NYSE:FERG) Given Consensus Recommendation of “Moderate Buy” by Analysts

Ferguson plc (NYSE:FERG) has been assigned a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $269.7327.

Several equities research analysts have issued reports on FERG shares. Weiss Ratings lowered shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Truist Financial lifted their target price on shares of Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Jefferies Financial Group restated a “buy” rating and issued a $300.00 price objective on shares of Ferguson in a report on Tuesday, February 24th. Citigroup restated a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada boosted their price objective on shares of Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th.

Institutional Investors Weigh In On Ferguson

Hedge funds and other institutional investors have recently modified their holdings of the stock. Basepoint Wealth LLC bought a new stake in shares of Ferguson in the 4th quarter valued at about $26,000. Leonteq Securities AG bought a new stake in shares of Ferguson in the 4th quarter valued at about $26,000. Central Pacific Bank Trust Division bought a new stake in shares of Ferguson in the 4th quarter valued at about $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Ferguson during the 3rd quarter valued at $28,000. Finally, Cornerstone Planning Group LLC raised its holdings in Ferguson by 178.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock valued at $31,000 after buying an additional 82 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Trading Down 0.5%

Shares of Ferguson stock opened at $226.53 on Friday. Ferguson has a 1 year low of $207.64 and a 1 year high of $271.64. The firm has a market cap of $43.93 billion, a PE ratio of 26.34, a PEG ratio of 1.61 and a beta of 1.15. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96. The company has a 50 day simple moving average of $240.92 and a two-hundred day simple moving average of $241.49.

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

Ferguson declared that its board has approved a stock buyback program on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th will be issued a $0.89 dividend. The ex-dividend date is Friday, May 15th. This represents a $3.56 annualized dividend and a dividend yield of 1.6%. Ferguson’s payout ratio is currently 41.40%.

Ferguson Company Profile

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.