Ferguson (NYSE:FERG) Sets New 52-Week High – What’s Next?

Ferguson plc (NYSE:FERG)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $257.00 and last traded at $252.4760, with a volume of 37079 shares changing hands. The stock had previously closed at $256.43.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Jefferies Financial Group lifted their price objective on Ferguson from $268.00 to $289.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Barclays lifted their price target on Ferguson from $267.00 to $278.00 and gave the company an “overweight” rating in a report on Thursday, January 15th. UBS Group decreased their price objective on shares of Ferguson from $225.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, December 10th. Sanford C. Bernstein restated an “outperform” rating on shares of Ferguson in a research report on Thursday, January 8th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Ferguson in a research report on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $253.00.

Ferguson Price Performance

The company’s fifty day moving average is $238.51 and its two-hundred day moving average is $234.70. The firm has a market capitalization of $49.51 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 2.06 and a beta of 1.18. The company has a quick ratio of 1.01, a current ratio of 1.88 and a debt-to-equity ratio of 0.68.

Ferguson (NYSE:FERG) last released its earnings results on Tuesday, December 9th. The company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.07. Ferguson had a net margin of 6.28% and a return on equity of 35.73%. The firm had revenue of $8.17 billion during the quarter. During the same period in the prior year, the firm posted $2.45 EPS. Ferguson’s revenue was up 5.1% on a year-over-year basis.

Ferguson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, January 2nd will be paid a $0.89 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This is a positive change from Ferguson’s previous quarterly dividend of $0.83. This represents a $3.56 annualized dividend and a yield of 1.4%. Ferguson’s payout ratio is currently 35.96%.

Institutional Trading of Ferguson

A number of institutional investors and hedge funds have recently modified their holdings of FERG. Vanguard Group Inc. boosted its stake in Ferguson by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 19,418,334 shares of the company’s stock worth $4,323,104,000 after acquiring an additional 102,850 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Ferguson by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 7,687,611 shares of the company’s stock worth $1,673,977,000 after purchasing an additional 27,312 shares in the last quarter. State Street Corp grew its holdings in shares of Ferguson by 1.9% in the 3rd quarter. State Street Corp now owns 4,437,468 shares of the company’s stock valued at $1,000,152,000 after buying an additional 81,094 shares during the period. Franklin Resources Inc. increased its position in shares of Ferguson by 2.6% in the 3rd quarter. Franklin Resources Inc. now owns 4,367,818 shares of the company’s stock valued at $980,921,000 after buying an additional 112,157 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Ferguson by 22.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,734,911 shares of the company’s stock worth $838,786,000 after buying an additional 682,666 shares during the period. 81.98% of the stock is owned by institutional investors.

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.