Ferguson plc (NASDAQ:FERG) Plans Quarterly Dividend of $0.83

Ferguson plc (NASDAQ:FERG) declared a quarterly dividend on Tuesday, December 10th,Wall Street Journal reports. Stockholders of record on Friday, December 20th will be paid a dividend of 0.83 per share on Thursday, February 6th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Friday, December 20th. This is an increase from Ferguson’s previous quarterly dividend of $0.79.

Ferguson has a payout ratio of 29.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ferguson to earn $11.07 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 28.5%.

Ferguson Trading Down 0.6 %

Shares of FERG stock traded down $1.25 during mid-day trading on Wednesday, reaching $193.69. The company’s stock had a trading volume of 3,081,229 shares, compared to its average volume of 1,309,352. The company’s 50 day simple moving average is $203.96 and its 200-day simple moving average is $202.61. Ferguson has a 12-month low of $180.98 and a 12-month high of $225.63. The company has a quick ratio of 1.00, a current ratio of 1.80 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $38.88 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 2.11 and a beta of 1.21.

Ferguson (NASDAQ:FERG) last released its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.12. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The firm had revenue of $7.95 billion for the quarter, compared to the consensus estimate of $8.01 billion. During the same quarter in the previous year, the firm posted $2.77 EPS. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. On average, research analysts predict that Ferguson will post 9.77 EPS for the current fiscal year.

Insider Activity at Ferguson

In related news, VP Michael Jacobs sold 2,624 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $200.96, for a total value of $527,319.04. Following the completion of the sale, the vice president now owns 1,116 shares in the company, valued at approximately $224,271.36. This represents a 70.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Garland Williams sold 1,118 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.22, for a total transaction of $224,963.96. Following the completion of the sale, the senior vice president now owns 1,882 shares of the company’s stock, valued at approximately $378,696.04. This trade represents a 37.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,313 shares of company stock valued at $2,477,901 over the last ninety days. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on FERG. Royal Bank of Canada reissued an “outperform” rating and set a $219.00 price objective on shares of Ferguson in a report on Wednesday. Barclays raised their price objective on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Berenberg Bank lifted their price target on shares of Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday. Robert W. Baird decreased their price target on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Citigroup lifted their price target on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $232.22.

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.