Ferguson (NYSE:FERG) Hits New 52-Week High – Time to Buy?

Ferguson plc (NYSE:FERG)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $267.66 and last traded at $266.9730, with a volume of 2073773 shares changing hands. The stock had previously closed at $263.88.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FERG shares. Jefferies Financial Group lifted their price target on shares of Ferguson from $268.00 to $289.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. Sanford C. Bernstein reissued an “outperform” rating on shares of Ferguson in a report on Thursday, January 8th. Morgan Stanley reiterated an “overweight” rating on shares of Ferguson in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ferguson in a report on Thursday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Ferguson from $237.00 to $246.00 and gave the company a “hold” rating in a report on Thursday, December 11th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $253.00.

Ferguson Stock Up 1.2%

The stock’s fifty day simple moving average is $240.44 and its 200-day simple moving average is $237.18. The stock has a market cap of $52.21 billion, a P/E ratio of 26.97, a P/E/G ratio of 2.19 and a beta of 1.18. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88.

Ferguson (NYSE:FERG) last released its quarterly earnings results on Tuesday, December 9th. The company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.07. The company had revenue of $8.17 billion during the quarter. Ferguson had a net margin of 6.28% and a return on equity of 35.73%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.45 earnings per share.

Ferguson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, January 2nd will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, January 2nd. This is a positive change from Ferguson’s previous quarterly dividend of $0.83. Ferguson’s dividend payout ratio is 35.96%.

Institutional Trading of Ferguson

Several large investors have recently bought and sold shares of the business. Daymark Wealth Partners LLC lifted its holdings in shares of Ferguson by 4.6% in the third quarter. Daymark Wealth Partners LLC now owns 992 shares of the company’s stock worth $223,000 after acquiring an additional 44 shares during the last quarter. Signaturefd LLC increased its position in shares of Ferguson by 1.1% during the fourth quarter. Signaturefd LLC now owns 3,979 shares of the company’s stock worth $886,000 after buying an additional 44 shares during the period. Smithfield Trust Co lifted its holdings in Ferguson by 3.5% in the second quarter. Smithfield Trust Co now owns 1,342 shares of the company’s stock valued at $291,000 after buying an additional 46 shares during the period. Simplicity Wealth LLC boosted its position in Ferguson by 1.6% during the fourth quarter. Simplicity Wealth LLC now owns 3,132 shares of the company’s stock valued at $697,000 after acquiring an additional 48 shares during the last quarter. Finally, Sivia Capital Partners LLC grew its holdings in Ferguson by 2.9% during the 4th quarter. Sivia Capital Partners LLC now owns 1,685 shares of the company’s stock worth $375,000 after acquiring an additional 48 shares during the period. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Company Profile

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.