Wellington Management Group LLP Raises Position in Ferguson plc $FERG

Key Points

• Wellington Management Group LLP significantly increased its stake in Ferguson plc by 769.5%, acquiring over 1.1 million additional shares, bringing its total holdings to approximately 1.27 million shares valued at $203 million.
• Ferguson recently declared a quarterly dividend of $0.83, reflecting an annualized yield of 1.4% and a payout ratio of 41.4%.
• Ferguson's stock has shown volatility with a 1-year low of $146.00 and a 1-year high of $235.12, currently trading around $230.55.

Wellington Management Group LLP raised its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 769.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,266,954 shares of the company's stock after buying an additional 1,121,249 shares during the quarter. Wellington Management Group LLP owned about 0.63% of Ferguson worth $203,004,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its stake in Ferguson by 24.5% in the first quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company's stock valued at $1,227,410,000 after acquiring an additional 1,506,024 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Ferguson by 94.6% in the 1st quarter. Vontobel Holding Ltd. now owns 2,402,527 shares of the company's stock worth $384,957,000 after purchasing an additional 1,167,751 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Ferguson by 1,036.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,020,522 shares of the company's stock valued at $163,518,000 after purchasing an additional 930,696 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Ferguson by 29.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 3,635,707 shares of the company's stock valued at $582,452,000 after buying an additional 831,112 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Ferguson by 13.8% in the 1st quarter. Invesco Ltd. now owns 6,818,800 shares of the company's stock worth $1,092,576,000 after buying an additional 827,355 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors.

Ferguson Stock Down 0.8%

NASDAQ FERG opened at $230.5470 on Thursday. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $235.12. The stock has a market capitalization of $45.46 billion, a PE ratio of 27.68, a PEG ratio of 1.69 and a beta of 1.16. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The business's 50-day moving average is $222.00 and its 200 day moving average is $190.46.

Ferguson (NASDAQ:FERG - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 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%.During the same quarter last year, the business posted $2.32 earnings per share. Ferguson's quarterly revenue was up 4.3% on a year-over-year basis. Sell-side analysts forecast that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Friday, June 20th were issued a $0.83 dividend. The ex-dividend date was Friday, June 20th. This represents a $3.32 annualized dividend and a yield of 1.4%. Ferguson's payout ratio is 41.40%.

Wall Street Analyst Weigh In

FERG has been the topic of a number of recent research reports. Truist Financial reiterated a "buy" rating and set a $230.00 price target on shares of Ferguson in a research report on Wednesday, June 4th. Barclays increased their target price on shares of Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Wells Fargo & Company boosted their price target on shares of Ferguson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Oppenheimer upped their price target on shares of Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Finally, Berenberg Bank reaffirmed a "hold" rating and set a $215.00 price objective on shares of Ferguson in a research note on Thursday, June 5th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $220.64.

Ferguson 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.

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