Ferguson plc $FERG Holdings Decreased by Wellington Management Group LLP

Wellington Management Group LLP lowered its stake in Ferguson plc (NYSE:FERG) by 15.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,209,558 shares of the company’s stock after selling 1,278,763 shares during the quarter. Wellington Management Group LLP’s holdings in Ferguson were worth $1,711,044,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of FERG. Leonteq Securities AG bought a new position in shares of Ferguson in the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC bought a new stake in Ferguson during the fourth quarter worth approximately $26,000. Zions Bancorporation National Association UT lifted its position in Ferguson by 123.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock worth $32,000 after purchasing an additional 79 shares during the period. Compass Financial Management LLC acquired a new stake in Ferguson in the second quarter worth approximately $32,000. Finally, Johnson Financial Group Inc. bought a new position in Ferguson during the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FERG shares. Weiss Ratings upgraded Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Sanford C. Bernstein raised their target price on Ferguson from $310.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Robert W. Baird lifted their target price on Ferguson from $285.00 to $288.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Zelman & Associates upgraded shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 target price on the stock in a report on Friday, July 17th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $261.00 target price on shares of Ferguson in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $285.93.

Ferguson Stock Down 2.0%

Shares of Ferguson stock opened at $228.52 on Friday. The stock’s fifty day moving average is $236.93 and its 200-day moving average is $239.63. The firm has a market capitalization of $44.21 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.62 and a beta of 1.14. The company has a quick ratio of 0.93, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. Ferguson plc has a 12-month low of $207.64 and a 12-month high of $271.64.

Ferguson (NYSE:FERG) last announced its earnings results on Monday, August 10th. The company reported $3.39 EPS for the quarter, beating the consensus estimate of $3.23 by $0.16. Ferguson had a return on equity of 37.24% and a net margin of 6.82%.The business had revenue of $8.75 billion during the quarter. Equities analysts anticipate that Ferguson plc will post 11.42 earnings per share for the current year.

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Friday, August 21st will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, August 21st. Ferguson’s payout ratio is presently 41.83%.

Ferguson declared that its board has authorized a stock repurchase program on Tuesday, May 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

About Ferguson

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.