Ferguson (NYSE:FERG) Issues Quarterly Earnings Results

Ferguson (NYSE:FERG) released its quarterly earnings data on Monday. The company reported $3.39 earnings per share (EPS) for the quarter, FiscalAI reports. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The business had revenue of $8.75 billion for the quarter.

Ferguson Stock Performance

FERG stock opened at $257.09 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96. Ferguson has a 1 year low of $207.64 and a 1 year high of $271.64. The company has a market cap of $49.86 billion, a P/E ratio of 29.89, a price-to-earnings-growth ratio of 1.82 and a beta of 1.14. The stock’s fifty day moving average price is $233.38 and its 200-day moving average price is $240.75.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Friday, August 21st will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, August 21st. Ferguson’s dividend payout ratio (DPR) is 41.40%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Leonteq Securities AG purchased a new stake in shares of Ferguson during the 4th quarter valued at about $26,000. Basepoint Wealth LLC purchased a new position in shares of Ferguson in the fourth quarter worth approximately $26,000. Zions Bancorporation National Association UT boosted its holdings in shares of Ferguson by 123.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock worth $32,000 after buying an additional 79 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in Ferguson during the third quarter valued at approximately $34,000. Finally, Eastern Bank bought a new stake in Ferguson during the second quarter valued at approximately $42,000. Institutional investors own 81.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on FERG. Zelman & Associates upgraded Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price target for the company in a research note on Friday, July 17th. Barclays increased their price objective on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Citigroup reiterated a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Royal Bank Of Canada upped their target price on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company raised their price target on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $277.21.

Ferguson declared that its board has initiated a share buyback program on Tuesday, May 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

About Ferguson

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.