Ferguson (NASDAQ:FERG) Given New $219.00 Price Target at Royal Bank of Canada

Ferguson (NASDAQ:FERG) had its price objective increased by Royal Bank of Canada from $211.00 to $219.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group boosted their price objective on shares of Ferguson from $238.00 to $250.00 and gave the stock a buy rating in a report on Wednesday, July 17th. Barclays reduced their price target 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 issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $231.57.

Ferguson Price Performance

Shares of FERG opened at $205.52 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64. The stock’s 50 day moving average is $204.35 and its two-hundred day moving average is $206.95. Ferguson has a twelve month low of $147.62 and a twelve month high of $225.63. The firm has a market capitalization of $41.50 billion, a PE ratio of 22.46, a P/E/G ratio of 6.13 and a beta of 1.21.

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

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.16 annualized dividend and a dividend yield of 1.54%. Ferguson’s dividend payout ratio is currently 34.54%.

Ferguson announced that its Board of Directors has approved a share repurchase plan on Tuesday, June 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Ferguson

Hedge funds have recently bought and sold shares of the stock. BayBridge Capital Group LLC increased its position in Ferguson by 2.0% during the 1st quarter. BayBridge Capital Group LLC now owns 2,373 shares of the company’s stock worth $494,000 after purchasing an additional 47 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in shares of Ferguson by 3.0% during the 1st quarter. Verdence Capital Advisors LLC now owns 1,663 shares of the company’s stock worth $363,000 after purchasing an additional 48 shares during the last quarter. OneAscent Financial Services LLC grew its holdings in shares of Ferguson by 1.9% during the first quarter. OneAscent Financial Services LLC now owns 2,584 shares of the company’s stock worth $565,000 after buying an additional 49 shares in the last quarter. Perigon Wealth Management LLC raised its position in shares of Ferguson by 3.6% in the first quarter. Perigon Wealth Management LLC now owns 1,568 shares of the company’s stock valued at $342,000 after buying an additional 55 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Ferguson by 1.8% during the first quarter. Oppenheimer & Co. Inc. now owns 3,142 shares of the company’s stock valued at $686,000 after buying an additional 57 shares during the period. Hedge funds and other 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.