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

Wellington Management Group LLP decreased its holdings in Ferguson plc (NASDAQ:FERG) by 7.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 145,705 shares of the company’s stock after selling 11,486 shares during the period. Wellington Management Group LLP’s holdings in Ferguson were worth $25,290,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Ferguson by 1.3% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,390 shares of the company’s stock worth $1,109,000 after purchasing an additional 80 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Ferguson by 0.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 23,834 shares of the company’s stock worth $4,137,000 after buying an additional 86 shares during the period. Caprock Group LLC boosted its position in Ferguson by 2.8% during the 4th 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. grew its holdings in shares of Ferguson by 41.1% during the 4th quarter. Assetmark Inc. now owns 333 shares of the company’s stock worth $58,000 after acquiring an additional 97 shares during the period. Finally, Inspire Advisors LLC raised its position in shares of Ferguson by 3.7% in the 4th quarter. Inspire Advisors LLC now owns 3,001 shares of the company’s stock worth $521,000 after acquiring an additional 108 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Down 2.3 %

Ferguson stock opened at $152.05 on Tuesday. Ferguson plc has a 12 month low of $146.15 and a 12 month high of $225.63. The stock has a fifty day simple moving average of $171.04 and a two-hundred day simple moving average of $185.94. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The firm has a market cap of $30.40 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 1.69 and a beta of 1.17.

Ferguson (NASDAQ:FERG) last issued its earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.06). The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.76 billion. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. Ferguson’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $1.74 EPS. Equities analysts predict that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, March 21st will be given a dividend of $0.83 per share. The ex-dividend date is Friday, March 21st. This represents a $3.32 dividend on an annualized basis and a yield of 2.18%. Ferguson’s dividend payout ratio (DPR) is 40.84%.

Analysts Set New Price Targets

Several research firms recently weighed in on FERG. Morgan Stanley initiated coverage on Ferguson in a research report on Monday, February 3rd. They set an “overweight” rating and a $204.00 price target on the stock. JPMorgan Chase & Co. dropped their target price on shares of Ferguson from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, March 19th. Zelman & Associates downgraded shares of Ferguson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 17th. Wolfe Research assumed coverage on shares of Ferguson in a research report on Monday, March 17th. They set a “peer perform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Ferguson in a report on Tuesday, April 1st. They issued a “hold” rating and a $174.00 price objective on the stock. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Ferguson has an average rating of “Moderate Buy” and an average target price of $198.62.

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.