Wellington Management Group LLP Sells 159,336 Shares of Ferguson plc (NASDAQ:FERG)

Wellington Management Group LLP lessened its stake in Ferguson plc (NASDAQ:FERG) by 50.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 157,191 shares of the company’s stock after selling 159,336 shares during the quarter. Wellington Management Group LLP owned about 0.08% of Ferguson worth $31,213,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Asset Dedication LLC bought a new stake in shares of Ferguson in the 3rd quarter valued at $27,000. True Wealth Design LLC increased its holdings in shares of Ferguson by 1,350.0% in the third quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after acquiring an additional 135 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Ferguson during the second quarter worth about $32,000. Capital Performance Advisors LLP bought a new position in shares of Ferguson during the 3rd quarter valued at about $37,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of Ferguson in the 3rd quarter valued at approximately $39,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FERG. UBS Group upped their price target on shares of Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Wells Fargo & Company lowered their target price on Ferguson from $232.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday. Royal Bank of Canada restated an “outperform” rating and issued a $219.00 price target on shares of Ferguson in a report on Wednesday. Citigroup increased their price objective on Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. Finally, Robert W. Baird cut their target price on Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $231.00.

Insider Activity at Ferguson

In related news, VP Michael Jacobs sold 2,624 shares of Ferguson stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $200.96, for a total transaction 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 approximately $224,271.36. This trade represents a 70.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Victoria Morrissey sold 1,468 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $201.20, for a total value of $295,361.60. Following the completion of the sale, the chief marketing officer now owns 5,205 shares of the company’s stock, valued at $1,047,246. This trade represents a 22.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,313 shares of company stock worth $2,477,901. Company insiders own 0.16% of the company’s stock.

Ferguson Stock Down 1.7 %

NASDAQ:FERG opened at $190.35 on Friday. The firm has a market capitalization of $38.21 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 1.90 and a beta of 1.21. The company has a quick ratio of 1.00, a current ratio of 1.80 and a debt-to-equity ratio of 0.89. Ferguson plc has a twelve month low of $180.98 and a twelve month high of $225.63. The stock’s 50 day moving average price is $203.89 and its two-hundred day moving average price is $202.46.

Ferguson (NASDAQ:FERG) last issued its earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.12. The business had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $8.01 billion. Ferguson had a net margin of 5.68% and a return on equity of 34.85%. Ferguson’s revenue was up 1.4% on a year-over-year basis. During the same period last year, the business posted $2.77 EPS. Equities research analysts expect that Ferguson plc will post 9.74 earnings per share for the current fiscal year.

Ferguson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Friday, December 20th will be issued a dividend of $0.83 per share. The ex-dividend date is Friday, December 20th. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.74%. Ferguson’s payout ratio is presently 37.94%.

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.