UBS Group Raises Ferguson (NASDAQ:FERG) Price Target to $236.00

Ferguson (NASDAQ:FERG) had its price target raised by UBS Group from $228.00 to $236.00 in a report released on Wednesday, Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other analysts have also commented on FERG. Barclays decreased their price target on Ferguson from $232.00 to $229.00 and set an overweight rating on the stock in a research note on Friday, July 12th. Jefferies Financial Group lifted their price objective on Ferguson from $238.00 to $250.00 and gave the company a buy rating in a research report on Wednesday, July 17th. Royal Bank of Canada lifted their price objective on Ferguson from $211.00 to $219.00 and gave the company an outperform rating in a research report on Wednesday. Finally, Robert W. Baird lifted their price objective on Ferguson from $222.00 to $225.00 and gave the company an outperform rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $231.57.

Ferguson Price Performance

Shares of NASDAQ:FERG opened at $196.52 on Wednesday. Ferguson has a 1-year low of $147.62 and a 1-year high of $225.63. The firm has a market capitalization of $39.69 billion, a PE ratio of 21.48, a PEG ratio of 6.13 and a beta of 1.21. The business’s 50 day moving average is $204.73 and its 200-day moving average is $206.82. The company has a current ratio of 1.68, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64.

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

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.61%. Ferguson’s payout ratio is currently 34.54%.

Ferguson announced that its board has approved a share repurchase plan on Tuesday, June 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Ferguson

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FERG. BayBridge Capital Group LLC grew its stake in Ferguson by 2.0% in the first quarter. BayBridge Capital Group LLC now owns 2,373 shares of the company’s stock valued at $494,000 after acquiring an additional 47 shares during the period. Verdence Capital Advisors LLC grew its stake in Ferguson by 3.0% in the first quarter. Verdence Capital Advisors LLC now owns 1,663 shares of the company’s stock valued at $363,000 after acquiring an additional 48 shares during the period. OneAscent Financial Services LLC grew its stake in Ferguson by 1.9% in the first quarter. OneAscent Financial Services LLC now owns 2,584 shares of the company’s stock valued at $565,000 after acquiring an additional 49 shares during the period. Perigon Wealth Management LLC grew its stake in 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 acquiring an additional 55 shares during the period. Finally, Oppenheimer & Co. Inc. grew its stake in Ferguson by 1.8% in the first quarter. Oppenheimer & Co. Inc. now owns 3,142 shares of the company’s stock valued at $686,000 after acquiring an additional 57 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.