Ferguson (NASDAQ:FERG) Price Target Raised to $225.00 at Robert W. Baird

Ferguson (NASDAQ:FERG) had its price objective hoisted by Robert W. Baird from $222.00 to $225.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also recently weighed in on the stock. Jefferies Financial Group upped their price objective on shares of Ferguson from $238.00 to $250.00 and gave the stock a buy rating in a research report on Wednesday, July 17th. Royal Bank of Canada increased their price target on shares of Ferguson from $211.00 to $219.00 and gave the stock an outperform rating in a report on Wednesday. Finally, Barclays cut their target price on shares of Ferguson from $232.00 to $229.00 and set an overweight rating for the company in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $231.57.

Ferguson Stock Down 0.7 %

Shares of NASDAQ:FERG opened at $205.52 on Wednesday. The firm has a fifty day moving average price of $204.35 and a two-hundred day moving average price of $206.95. The company has a market cap of $41.50 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 6.13 and a beta of 1.21. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94. Ferguson has a one year low of $147.62 and a one year high of $225.63.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.12. The company had revenue of $7.95 billion during the quarter, compared to analyst estimates of $8.01 billion. Ferguson had a return on equity of 36.89% and a net margin of 6.33%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $2.77 earnings per share. Analysts anticipate that Ferguson will post 9.63 EPS for the current fiscal year.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 1.54%. The ex-dividend date is Friday, September 27th. Ferguson’s dividend payout ratio is presently 34.54%.

Ferguson declared that its Board of Directors has initiated a share buyback plan on Tuesday, June 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Ferguson

A number of hedge funds and other institutional investors have recently modified their holdings of FERG. Bank of New York Mellon Corp increased its stake in Ferguson by 375.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,289,864 shares of the company’s stock worth $1,218,032,000 after purchasing an additional 4,966,821 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Ferguson by 589.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,619,637 shares of the company’s stock worth $353,778,000 after purchasing an additional 1,384,570 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Ferguson by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,563,558 shares of the company’s stock worth $302,781,000 after buying an additional 153,757 shares during the period. First Pacific Advisors LP raised its holdings in Ferguson by 1.4% during the 2nd quarter. First Pacific Advisors LP now owns 1,104,289 shares of the company’s stock valued at $213,846,000 after buying an additional 15,700 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Ferguson by 9.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 975,924 shares of the company’s stock valued at $188,422,000 after buying an additional 84,390 shares during the period. Institutional investors own 81.98% of the company’s stock.

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.