Ferguson (NASDAQ:FERG) Releases Quarterly Earnings Results, Beats Estimates By $0.54 EPS

Ferguson (NASDAQ:FERG) announced its quarterly earnings data on Tuesday. The company reported $3.55 EPS for the quarter, beating the consensus estimate of $3.01 by $0.54, RTT News reports. Ferguson had a net margin of 5.68% and a return on equity of 34.63%.

Ferguson Stock Up 1.3%

NASDAQ FERG opened at $214.38 on Tuesday. The firm has a market cap of $42.27 billion, a PE ratio of 25.74, a P/E/G ratio of 1.69 and a beta of 1.15. Ferguson has a 52 week low of $146.00 and a 52 week high of $243.40. The business’s fifty day simple moving average is $226.45 and its 200-day simple moving average is $196.87. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, September 26th. Ferguson’s payout ratio is currently 41.40%.

Institutional Trading of Ferguson

Institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. raised its holdings in Ferguson by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock valued at $150,000 after buying an additional 48 shares during the period. Transamerica Financial Advisors LLC raised its holdings in Ferguson by 47.5% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 692 shares of the company’s stock valued at $151,000 after buying an additional 223 shares during the period. Ruane Cunniff & Goldfarb L.P. purchased a new stake in Ferguson in the 2nd quarter valued at about $218,000. Benjamin Edwards Inc. purchased a new stake in Ferguson in the 2nd quarter valued at about $223,000. Finally, Auxier Asset Management purchased a new stake in Ferguson in the 2nd quarter valued at about $229,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Ferguson in a research report on Wednesday, September 10th. Royal Bank Of Canada increased their price objective on shares of Ferguson from $189.00 to $231.00 and gave the company an “outperform” rating in a research report on Wednesday, June 4th. Oppenheimer increased their price objective on shares of Ferguson from $189.00 to $235.00 and gave the company an “outperform” rating in a research report on Wednesday, June 4th. Berenberg Bank reaffirmed a “hold” rating and issued a $215.00 price objective on shares of Ferguson in a research report on Thursday, June 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of Ferguson from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, September 4th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $221.00.

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.