Ferguson plc (NASDAQ:FERG – Get Rating) – Stock analysts at Jefferies Financial Group boosted their FY2023 earnings estimates for Ferguson in a research report issued on Tuesday, May 3rd. Jefferies Financial Group analyst P. Woolf now forecasts that the company will post earnings of $9.10 per share for the year, up from their prior forecast of $8.94. Jefferies Financial Group has a “Hold” rating on the stock. Jefferies Financial Group also issued estimates for Ferguson’s FY2024 earnings at $9.65 EPS.
Other analysts have also recently issued reports about the company. UBS Group cut their price objective on Ferguson from £155 ($193.63) to £140 ($174.89) in a research report on Wednesday, January 26th. Berenberg Bank cut their price objective on Ferguson from £150 ($187.38) to £140 ($174.89) in a research report on Thursday, March 17th. Deutsche Bank Aktiengesellschaft cut Ferguson from a “buy” rating to a “hold” rating in a research report on Wednesday, April 13th. Truist Financial lifted their price target on Ferguson from $186.00 to $200.00 in a report on Friday, January 14th. Finally, Barclays assumed coverage on Ferguson in a report on Friday, April 22nd. They set an “overweight” rating for the company. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Ferguson presently has an average rating of “Buy” and a consensus target price of $7,092.25.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Credit Suisse AG increased its stake in shares of Ferguson by 8.6% in the 3rd quarter. Credit Suisse AG now owns 827,559 shares of the company’s stock valued at $115,462,000 after purchasing an additional 65,847 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Ferguson by 2.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 769,233 shares of the company’s stock valued at $107,197,000 after purchasing an additional 17,013 shares during the last quarter. Natixis Advisors L.P. increased its stake in shares of Ferguson by 2.1% in the 4th quarter. Natixis Advisors L.P. now owns 81,827 shares of the company’s stock valued at $14,679,000 after purchasing an additional 1,687 shares during the last quarter. Achmea Investment Management B.V. increased its stake in shares of Ferguson by 1.0% in the 3rd quarter. Achmea Investment Management B.V. now owns 83,073 shares of the company’s stock valued at $11,576,000 after purchasing an additional 800 shares during the last quarter. Finally, National Bank of Canada FI bought a new position in shares of Ferguson in the 4th quarter valued at $190,734,000. 46.84% of the stock is owned by hedge funds and other institutional investors.
The business also recently disclosed a semi-annual dividend, which will be paid on Friday, May 6th. Shareholders of record on Friday, March 25th will be issued a $0.84 dividend. The ex-dividend date is Thursday, March 24th. This represents a yield of 1.7%.
Ferguson Company Profile (Get Rating)
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 distributes pipes, valves, fittings, plumbing supplies, water heaters, kitchen and bathroom fixtures, and appliances; heating, ventilation, air conditioning, and refrigeration products and supplies; and plumbing parts and supplies, fire sprinkler systems, hangers, struts, and fasteners.
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