Ferguson (NASDAQ:FERG) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Ferguson (NASDAQ:FERG) in a research report sent to investors on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has a $189.00 price objective on the stock.

FERG has been the topic of a number of other reports. Berenberg Bank boosted their price target on shares of Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Morgan Stanley began coverage on shares of Ferguson in a research report on Monday, February 3rd. They set an “overweight” rating and a $204.00 price target on the stock. Robert W. Baird set a $190.00 price target on shares of Ferguson and gave the stock an “outperform” rating in a research report on Wednesday, March 12th. Wells Fargo & Company decreased their target price on shares of Ferguson from $205.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Finally, Citigroup decreased their target price on shares of Ferguson from $189.00 to $168.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $201.64.

Ferguson Stock Up 0.0 %

Shares of NASDAQ FERG opened at $162.62 on Tuesday. The company’s 50-day simple moving average is $175.48 and its 200-day simple moving average is $189.40. Ferguson has a 52-week low of $152.52 and a 52-week high of $225.63. The firm has a market cap of $32.52 billion, a price-to-earnings ratio of 19.52, 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.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share 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 analyst estimates of $6.76 billion. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.74 earnings per share. Equities analysts predict that Ferguson will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, March 21st will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Friday, March 21st. Ferguson’s dividend payout ratio (DPR) is 40.84%.

Institutional Investors Weigh In On Ferguson

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC raised its stake in shares of Ferguson by 6.5% in the 4th quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company’s stock valued at $211,000 after acquiring an additional 74 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Ferguson by 1.3% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,390 shares of the company’s stock valued at $1,109,000 after acquiring an additional 80 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Ferguson by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,834 shares of the company’s stock valued at $4,137,000 after acquiring an additional 86 shares during the period. Caprock Group LLC increased its stake in Ferguson by 2.8% during the 4th quarter. Caprock Group LLC now owns 3,496 shares of the company’s stock worth $610,000 after buying an additional 94 shares during the period. Finally, Commerce Bank increased its stake in Ferguson by 3.8% during the 3rd quarter. Commerce Bank now owns 2,666 shares of the company’s stock worth $529,000 after buying an additional 97 shares during the period. 81.98% of the stock is 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.