Ferguson (NASDAQ:FERG) Receives Buy Rating from Truist Financial

Truist Financial reaffirmed their buy rating on shares of Ferguson (NASDAQ:FERG) in a report published on Wednesday,Benzinga reports. They currently have a $230.00 target price on the stock.

FERG has been the topic of several other research reports. Citigroup reduced their price target 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. Deutsche Bank Aktiengesellschaft initiated coverage on Ferguson in a research report on Tuesday, April 1st. They issued a “hold” rating and a $174.00 price objective on the stock. JPMorgan Chase & Co. raised their price target on shares of Ferguson from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 27th. Wolfe Research initiated coverage on shares of Ferguson in a research note on Monday, March 17th. They set a “peer perform” rating for the company. Finally, Barclays upped their price target on shares of Ferguson from $190.00 to $247.00 and gave the stock an “overweight” rating in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $214.50.

Ferguson Stock Up 2.3%

Shares of FERG opened at $216.28 on Wednesday. Ferguson has a 12-month low of $146.00 and a 12-month high of $225.63. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The company’s 50-day moving average price is $171.41 and its 200 day moving average price is $178.06. The firm has a market cap of $43.24 billion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 1.69 and a beta of 1.13.

Ferguson (NASDAQ:FERG) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.44. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. During the same quarter in the previous year, the company posted $2.32 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts forecast that Ferguson will post 9.4 earnings per share for the current year.

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Friday, June 20th will be issued a $0.83 dividend. The ex-dividend date is Friday, June 20th. This represents a $3.32 annualized dividend and a yield of 1.54%. Ferguson’s dividend payout ratio (DPR) is currently 41.40%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FERG. Charles Schwab Investment Management Inc. increased its position in Ferguson by 7.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 778,737 shares of the company’s stock worth $135,247,000 after buying an additional 52,776 shares during the period. New York Life Investment Management LLC acquired a new stake in shares of Ferguson in the fourth quarter worth $587,000. Markel Group Inc. increased its position in Ferguson by 25.4% during the fourth quarter. Markel Group Inc. now owns 106,000 shares of the company’s stock worth $18,398,000 after acquiring an additional 21,500 shares during the period. AMF Tjanstepension AB raised its stake in Ferguson by 420.4% during the 4th quarter. AMF Tjanstepension AB now owns 66,125 shares of the company’s stock valued at $11,477,000 after purchasing an additional 53,419 shares during the last quarter. Finally, Fisher Funds Management LTD acquired a new position in Ferguson during the 4th quarter valued at $16,761,000. 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.