Ferguson (NYSE:FERG) Hits New 1-Year High – What’s Next?

Shares of Ferguson plc (NYSE:FERG) hit a new 52-week high during trading on Thursday . The company traded as high as $267.66 and last traded at $266.9730, with a volume of 2073773 shares trading hands. The stock had previously closed at $263.88.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Morgan Stanley reissued an “overweight” rating on shares of Ferguson in a report on Tuesday, January 6th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferguson in a research report on Friday, January 9th. JPMorgan Chase & Co. boosted their price target on shares of Ferguson from $225.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Robert W. Baird increased their price objective on shares of Ferguson from $262.00 to $265.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Ferguson from $237.00 to $246.00 and gave the company a “hold” rating in a research report on Thursday, December 11th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $253.00.

Ferguson Stock Up 1.2%

The stock’s 50-day moving average is $240.44 and its 200-day moving average is $237.18. The stock has a market cap of $52.21 billion, a P/E ratio of 26.97, a price-to-earnings-growth ratio of 2.19 and a beta of 1.18. The company has a current ratio of 1.88, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68.

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

Ferguson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, January 2nd will be issued a $0.89 dividend. This is a positive change from Ferguson’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $3.56 annualized dividend and a yield of 1.3%. Ferguson’s payout ratio is currently 35.96%.

Hedge Funds Weigh In On Ferguson

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Leonteq Securities AG bought a new position in shares of Ferguson during the 4th quarter worth approximately $26,000. Basepoint Wealth LLC bought a new position in Ferguson in the 4th quarter worth approximately $26,000. Central Pacific Bank Trust Division acquired a new position in shares of Ferguson during the fourth quarter valued at $27,000. True Wealth Design LLC boosted its stake in shares of Ferguson by 145.3% in the 2nd quarter. True Wealth Design LLC now owns 130 shares of the company’s stock valued at $28,000 after purchasing an additional 77 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Ferguson during the 3rd quarter worth $28,000. 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.