Wolfe Research Initiates Coverage on Ferguson (NASDAQ:FERG)

Wolfe Research started coverage on shares of Ferguson (NASDAQ:FERG) in a research report released on Monday, MarketBeat reports. The firm issued a peer perform rating on the stock.

Several other research firms have also weighed in on FERG. Berenberg Bank increased their price target on Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Oppenheimer reduced their target price on shares of Ferguson from $234.00 to $189.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. Citigroup dropped their price target on shares of Ferguson from $189.00 to $168.00 and set a “neutral” rating for the company in a research note on Wednesday, March 12th. UBS Group reiterated a “neutral” rating and set a $193.00 price target (down from $230.00) on shares of Ferguson in a report on Wednesday, January 8th. Finally, Barclays decreased their price objective on shares of Ferguson from $211.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $200.67.

Ferguson Stock Performance

Ferguson stock opened at $164.72 on Monday. The company’s 50-day moving average price is $175.33 and its 200-day moving average price is $189.23. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The company has a market cap of $32.94 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. Ferguson has a twelve month low of $152.52 and a twelve month high of $225.63.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings data on Tuesday, March 11th. The company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.06). The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.76 billion. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.74 earnings per share. On average, equities research analysts forecast that Ferguson will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, March 21st will be paid a $0.83 dividend. The ex-dividend date is Friday, March 21st. This represents a $3.32 annualized dividend and a yield of 2.02%. Ferguson’s dividend payout ratio (DPR) is currently 40.84%.

Institutional Investors Weigh In On Ferguson

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Manchester Capital Management LLC grew its position in shares of Ferguson by 906.7% during the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock worth $26,000 after buying an additional 136 shares in the last quarter. True Wealth Design LLC lifted its stake in Ferguson by 1,350.0% in the third quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after acquiring an additional 135 shares during the period. LGT Financial Advisors LLC grew its holdings in Ferguson by 106.3% during the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company’s stock worth $34,000 after acquiring an additional 102 shares in the last quarter. Berbice Capital Management LLC purchased a new position in Ferguson during the 4th quarter valued at about $35,000. Finally, Brooklyn Investment Group bought a new stake in shares of Ferguson in the 3rd quarter valued at about $45,000. 81.98% of the stock is owned by institutional investors.

About Ferguson

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.