Ferguson (NYSE:FERG) Announces Earnings Results

Ferguson (NYSE:FERG) released its quarterly earnings data on Tuesday. The company reported $1.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.25), Briefing.com reports. Ferguson had a net margin of 6.28% and a return on equity of 35.73%. During the same period in the prior year, the business posted $1.52 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year.

Ferguson Price Performance

NYSE:FERG opened at $251.31 on Tuesday. Ferguson has a 52 week low of $146.00 and a 52 week high of $271.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88. The firm’s 50-day simple moving average is $244.27 and its 200 day simple moving average is $239.18. The firm has a market cap of $49.14 billion, a price-to-earnings ratio of 25.38, a P/E/G ratio of 2.08 and a beta of 1.18.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, March 6th will be given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, March 6th. Ferguson’s dividend payout ratio (DPR) is currently 35.96%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FERG. Wellington Management Group LLP raised its position in shares of Ferguson by 150.8% in the fourth quarter. Wellington Management Group LLP now owns 9,366,465 shares of the company’s stock valued at $2,085,256,000 after buying an additional 5,631,554 shares in the last quarter. Durable Capital Partners LP bought a new position in Ferguson during the 3rd quarter worth $244,561,000. Qube Research & Technologies Ltd raised its holdings in Ferguson by 588.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,087,523 shares of the company’s stock valued at $244,236,000 after acquiring an additional 929,475 shares in the last quarter. Voloridge Investment Management LLC lifted its position in shares of Ferguson by 502.8% during the 3rd quarter. Voloridge Investment Management LLC now owns 765,725 shares of the company’s stock valued at $171,967,000 after acquiring an additional 638,692 shares during the period. Finally, Balyasny Asset Management L.P. lifted its position in shares of Ferguson by 121.9% during the 3rd quarter. Balyasny Asset Management L.P. now owns 657,625 shares of the company’s stock valued at $147,689,000 after acquiring an additional 361,214 shares during the period. 81.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on FERG. Weiss Ratings restated a “buy (b-)” rating on shares of Ferguson in a research note on Thursday, January 22nd. Morgan Stanley reiterated an “overweight” rating on shares of Ferguson in a report on Tuesday, January 6th. Wells Fargo & Company raised their target price on shares of Ferguson from $275.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Wall Street Zen downgraded shares of Ferguson from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Jefferies Financial Group increased their price target on shares of Ferguson from $268.00 to $289.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $253.00.

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.