Ferguson (NASDAQ:FERG) Now Covered by The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Ferguson (NASDAQ:FERG) in a research report report published on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $280.00 price target on the stock.

FERG has been the topic of several other reports. Robert W. Baird set a $190.00 price objective on shares of Ferguson and gave the company an “outperform” rating in a report on Wednesday, March 12th. Citigroup cut their price objective on shares of Ferguson from $189.00 to $168.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Wells Fargo & Company increased their price objective on shares of Ferguson from $190.00 to $230.00 and gave the company an “overweight” rating in a report on Wednesday, June 4th. Royal Bank Of Canada increased their target price on shares of Ferguson from $189.00 to $231.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. Finally, Truist Financial reiterated a “buy” rating and issued a $230.00 target price on shares of Ferguson in a report on Wednesday, June 4th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.27.

Ferguson Trading Up 1.3%

Shares of NASDAQ FERG opened at $214.45 on Wednesday. The company’s 50 day simple moving average is $182.60 and its 200 day simple moving average is $178.37. Ferguson has a fifty-two week low of $146.00 and a fifty-two week high of $225.63. The firm has a market capitalization of $42.29 billion, a P/E ratio of 25.74, a P/E/G ratio of 1.69 and a beta of 1.13. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91.

Ferguson (NASDAQ:FERG) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. During the same period last year, the company earned $2.32 EPS. Ferguson’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, analysts predict that Ferguson will post 9.4 EPS for the current year.

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Friday, June 20th. Ferguson’s dividend payout ratio is 41.40%.

Institutional Investors Weigh In On Ferguson

Large investors have recently made changes to their positions in the stock. LGT Financial Advisors LLC increased its position in shares of Ferguson by 106.3% during the fourth quarter. LGT Financial Advisors LLC now owns 198 shares of the company’s stock worth $34,000 after acquiring an additional 102 shares in the last quarter. Grove Bank & Trust increased its position in shares of Ferguson by 247.4% during the first quarter. Grove Bank & Trust now owns 198 shares of the company’s stock worth $32,000 after acquiring an additional 141 shares in the last quarter. TD Private Client Wealth LLC grew its position in Ferguson by 56.5% in the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company’s stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Whipplewood Advisors LLC grew its position in Ferguson by 166.7% in the first quarter. Whipplewood Advisors LLC now owns 208 shares of the company’s stock valued at $33,000 after purchasing an additional 130 shares in the last quarter. Finally, Brooklyn Investment Group grew its position in Ferguson by 103.6% in the first quarter. Brooklyn Investment Group now owns 226 shares of the company’s stock valued at $36,000 after purchasing an additional 115 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

About Ferguson

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.