Ferguson plc (NASDAQ:FERG) Declares Dividend Increase – $0.83 Per Share

Ferguson plc (NASDAQ:FERG) announced a quarterly dividend on Tuesday, December 10th,Wall Street Journal reports. Investors of record on Friday, December 20th will be given a dividend of 0.83 per share on Thursday, February 6th. This represents a $3.32 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Friday, December 20th. This is a boost from Ferguson’s previous quarterly dividend of $0.79.

Ferguson has a dividend payout ratio of 29.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ferguson to earn $10.58 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 29.9%.

Ferguson Stock Down 0.3 %

FERG opened at $185.05 on Wednesday. Ferguson has a fifty-two week low of $183.49 and a fifty-two week high of $225.63. The company has a market capitalization of $37.00 billion, a P/E ratio of 22.21, a P/E/G ratio of 1.90 and a beta of 1.21. The stock has a fifty day moving average of $203.36 and a 200-day moving average of $202.00. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.80.

Ferguson (NASDAQ:FERG) last announced its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12. Ferguson had a net margin of 5.68% and a return on equity of 34.85%. The firm had revenue of $7.95 billion for the quarter, compared to the consensus estimate of $8.01 billion. During the same period in the prior year, the company posted $2.77 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities analysts expect that Ferguson will post 9.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Berenberg Bank boosted their price objective on Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Oppenheimer started coverage on shares of Ferguson in a report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $219.00 price objective on shares of Ferguson in a research note on Wednesday, December 11th. Barclays lowered their target price on Ferguson from $245.00 to $234.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Finally, Robert W. Baird lowered their price objective on Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $230.44.

Insider Activity at Ferguson

In related news, VP Michael Jacobs sold 2,624 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $200.96, for a total value of $527,319.04. Following the completion of the sale, the vice president now directly owns 1,116 shares of the company’s stock, valued at $224,271.36. The trade was a 70.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Victoria Morrissey sold 1,468 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $201.20, for a total value of $295,361.60. Following the completion of the transaction, the chief marketing officer now owns 5,205 shares in the company, valued at approximately $1,047,246. The trade was a 22.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,313 shares of company stock worth $2,477,901 in the last 90 days. Corporate insiders own 0.16% 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.