Ferguson (NASDAQ:FERG) Given New $221.00 Price Target at Citigroup

Ferguson (NASDAQ:FERG) had its price objective raised by Citigroup from $203.00 to $221.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts also recently issued research reports about the stock. Robert W. Baird lifted their price target on shares of Ferguson from $222.00 to $225.00 and gave the company an outperform rating in a report on Wednesday. UBS Group lifted their price objective on shares of Ferguson from $228.00 to $236.00 and gave the company a buy rating in a research report on Wednesday. Barclays lifted their price objective on shares of Ferguson from $229.00 to $245.00 and gave the company an overweight rating in a research report on Wednesday. Jefferies Financial Group lifted their price objective on shares of Ferguson from $238.00 to $250.00 and gave the company a buy rating in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada lifted their price objective on shares of Ferguson from $211.00 to $219.00 and gave the company an outperform rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Ferguson has a consensus rating of Moderate Buy and a consensus target price of $231.57.

Ferguson Price Performance

Shares of NASDAQ:FERG opened at $205.52 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94. Ferguson has a 1-year low of $147.62 and a 1-year high of $225.63. The company has a market capitalization of $41.50 billion, a P/E ratio of 22.46, a P/E/G ratio of 6.13 and a beta of 1.21. The firm’s 50 day simple moving average is $204.35 and its two-hundred day simple moving average is $206.95.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.12. Ferguson had a net margin of 6.33% and a return on equity of 36.89%. The business 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 earned $2.77 earnings per share. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. Research analysts expect that Ferguson will post 9.63 EPS for the current fiscal year.

Ferguson announced that its Board of Directors has authorized a stock repurchase program on Tuesday, June 4th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 1.54%. The ex-dividend date is Friday, September 27th. Ferguson’s dividend payout ratio is presently 34.54%.

Institutional Investors Weigh In On Ferguson

Large investors have recently bought and sold shares of the business. Richardson Financial Services Inc. bought a new stake in Ferguson in the fourth quarter worth $25,000. EdgeRock Capital LLC bought a new position in Ferguson during the second quarter valued at $32,000. MCF Advisors LLC purchased a new stake in shares of Ferguson in the first quarter valued at $47,000. Brown Brothers Harriman & Co. raised its stake in shares of Ferguson by 538.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 402 shares of the company’s stock valued at $78,000 after acquiring an additional 339 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Ferguson by 2,462.5% in the second quarter. Versant Capital Management Inc now owns 410 shares of the company’s stock valued at $79,000 after acquiring an additional 394 shares during the period. Institutional investors own 81.98% of the company’s stock.

Ferguson Company Profile

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.