Wellington Management Group LLP Decreases Stock Position in Ferguson plc (NASDAQ:FERG)

Wellington Management Group LLP trimmed its position in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 145,705 shares of the company's stock after selling 11,486 shares during the quarter. Wellington Management Group LLP owned about 0.07% of Ferguson worth $25,290,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Integrated Wealth Concepts LLC grew its stake in Ferguson by 6.5% during the 4th quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company's stock worth $211,000 after buying an additional 74 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Ferguson by 1.3% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,390 shares of the company's stock worth $1,109,000 after acquiring an additional 80 shares during the last quarter. Caprock Group LLC increased its holdings in shares of Ferguson by 2.8% during the fourth quarter. Caprock Group LLC now owns 3,496 shares of the company's stock valued at $610,000 after acquiring an additional 94 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Ferguson by 41.1% during the fourth quarter. Assetmark Inc. now owns 333 shares of the company's stock valued at $58,000 after acquiring an additional 97 shares in the last quarter. Finally, LGT Financial Advisors LLC raised its position in shares of Ferguson by 106.3% in the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock valued at $34,000 after purchasing an additional 102 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FERG has been the topic of several research analyst reports. Oppenheimer boosted their target price on shares of Ferguson from $189.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Ferguson from $190.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Wells Fargo & Company raised their target price on Ferguson from $190.00 to $230.00 and gave the stock an "overweight" rating in a research note on Wednesday. Royal Bank of Canada boosted their price target on Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft began coverage on Ferguson in a research note on Tuesday, April 1st. They issued a "hold" rating and a $174.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $215.23.

Ferguson Price Performance

FERG stock traded up $4.15 during mid-day trading on Wednesday, reaching $215.51. 1,107,621 shares of the company's stock were exchanged, compared to its average volume of 1,640,745. 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 plc has a 12-month low of $146.00 and a 12-month high of $225.63. The stock's 50 day moving average is $170.30 and its 200 day moving average is $177.80. The company has a market cap of $43.09 billion, a price-to-earnings ratio of 25.87, a price-to-earnings-growth ratio of 1.69 and a beta of 1.14.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.06 by $0.44. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The firm's revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business posted $2.32 EPS. On average, research analysts expect that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.54%. Ferguson's dividend payout ratio is currently 40.84%.

Ferguson Company Profile

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.