Ferguson (NYSE:FERG) Posts Earnings Results, Beats Expectations By $0.16 EPS

Ferguson (NYSE:FERG) released its quarterly earnings data on Monday. The company reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.16, FiscalAI reports. Ferguson had a return on equity of 37.68% and a net margin of 6.82%.The firm had revenue of $8.75 billion during the quarter.

Ferguson Price Performance

Shares of FERG opened at $252.52 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78. The firm’s 50-day simple moving average is $234.66 and its two-hundred day simple moving average is $240.91. Ferguson has a fifty-two week low of $207.64 and a fifty-two week high of $271.64. The stock has a market cap of $48.97 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 1.87 and a beta of 1.14.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Friday, August 21st 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, August 21st. Ferguson’s dividend payout ratio (DPR) is 41.40%.

Ferguson declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have weighed in on FERG shares. Citigroup reissued a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Royal Bank Of Canada increased their target price on shares of Ferguson from $281.00 to $290.00 and gave the stock an “outperform” rating in a report on Tuesday. Wells Fargo & Company raised their target price on Ferguson from $285.00 to $295.00 and gave the stock an “overweight” rating in a research note on Tuesday. Robert W. Baird boosted their price target on Ferguson from $285.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Oppenheimer upped their price target on Ferguson from $280.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $284.86.

Institutional Investors Weigh In On Ferguson

Several institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. raised its stake in Ferguson by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock valued at $150,000 after purchasing an additional 48 shares during the period. Simplicity Wealth LLC lifted its holdings in shares of Ferguson by 1.6% in the fourth quarter. Simplicity Wealth LLC now owns 3,132 shares of the company’s stock valued at $697,000 after purchasing an additional 48 shares in the last quarter. Sivia Capital Partners LLC boosted its position in shares of Ferguson by 2.9% in the fourth quarter. Sivia Capital Partners LLC now owns 1,685 shares of the company’s stock worth $375,000 after buying an additional 48 shares during the period. REAP Financial Group LLC boosted its position in shares of Ferguson by 13.4% in the fourth quarter. REAP Financial Group LLC now owns 431 shares of the company’s stock worth $96,000 after buying an additional 51 shares during the period. Finally, Triad Wealth Partners LLC grew its holdings in shares of Ferguson by 4.7% during the fourth quarter. Triad Wealth Partners LLC now owns 1,219 shares of the company’s stock valued at $271,000 after buying an additional 55 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

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.