Ferguson (NYSE:FERG) Hits New 52-Week High – Time to Buy?

Ferguson plc (NYSE:FERG)’s stock price reached a new 52-week high 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 Analyst Weigh In

A number of brokerages have recently weighed in on FERG. JPMorgan Chase & Co. boosted their price target on Ferguson from $225.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. UBS Group reduced their target price on Ferguson from $225.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, December 10th. Morgan Stanley reiterated an “overweight” rating on shares of Ferguson in a research note on Tuesday, January 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Ferguson in a research note on Thursday, January 22nd. Finally, Wells Fargo & Company lifted their target price on Ferguson from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $253.00.

Ferguson Trading Down 1.6%

The stock has a market capitalization of $49.35 billion, a PE ratio of 25.49, a P/E/G ratio of 2.10 and a beta of 1.18. The company’s 50 day moving average price is $238.83 and its two-hundred day moving average price is $235.04. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01.

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

Ferguson Increases Dividend

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Daymark Wealth Partners LLC boosted its stake in shares of Ferguson by 4.6% during the third quarter. Daymark Wealth Partners LLC now owns 992 shares of the company’s stock worth $223,000 after buying an additional 44 shares during the period. Signaturefd LLC raised its stake in Ferguson by 1.1% during the 4th quarter. Signaturefd LLC now owns 3,979 shares of the company’s stock valued at $886,000 after acquiring an additional 44 shares during the last quarter. Smithfield Trust Co lifted its position in Ferguson by 3.5% during the 2nd quarter. Smithfield Trust Co now owns 1,342 shares of the company’s stock worth $291,000 after acquiring an additional 46 shares during the period. Simplicity Wealth LLC grew its stake in shares of Ferguson by 1.6% in the 4th quarter. Simplicity Wealth LLC now owns 3,132 shares of the company’s stock valued at $697,000 after purchasing an additional 48 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Ferguson by 7.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock valued at $150,000 after purchasing an additional 48 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Company Profile

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.