Welcome to our dedicated page for Ferguson Enterprises news (Ticker: FERG), a resource for investors and traders seeking the latest updates and insights on Ferguson Enterprises stock.
Ferguson plc (formerly Wolseley plc) is a leading multinational distributor of plumbing and heating products, headquartered in Wokingham, England. With a strong presence in the United States, the company operates under the brand name Ferguson Enterprises in North America.
Ferguson primarily supplies products for plumbing, HVAC, and other building services, catering to markets like repair, maintenance, improvement, new construction, and civil infrastructure. It serves over 1 million customers and sources its extensive range of products from 37,000 suppliers.
The company engages its clientele through approximately 1,700 North American branches, telephone services, online platforms, and residential showrooms. In fiscal 2023, Ferguson reported nearly $30 billion in sales, with 95% of its revenue generated in the United States.
Recognized by Modern Distribution Management as North America's largest industrial and construction distributor, Ferguson has sold its UK business in 2021 to focus solely on the North American market.
Ferguson continues to achieve significant milestones and forge strategic partnerships, continuously enhancing its product offerings and market reach. The company's focus on customer-centric services and innovative solutions positions it as a key player in the industry.
Ferguson Enterprises announced a PDMR transaction involving Non-Employee Director Brian May. The transaction consisted of a purchase of 686 shares of common stock at $185.14 per share, totaling $127,006.04. The transaction was executed on December 18, 2024, on the New York Stock Exchange. This notification was made in compliance with the EU Market Abuse Regulation as incorporated into UK law.
Ferguson Enterprises announced significant insider transactions on December 11, 2024. The company issued restricted stock units to nine Non-Employee Directors under the 2023 Omnibus Equity Incentive Plan, with most directors receiving 923 units each, while G Drabble and B May received 904 units each. These awards have no performance conditions and will vest at the next annual stockholders meeting, subject to continued service.
Additionally, Non-Employee Director Rick Beckwitt purchased 2,500 shares of common stock at prices ranging from $193.66 to $193.70 per share, for a total investment of $484,231.00. The transactions were reported in accordance with EU Market Abuse Regulation requirements.
Four major companies - BayPort Foundation, Ferguson, Newport News Shipbuilding, and Virginia Natural Gas - have awarded a $500,000 ACT Grant to the Newport News Education Foundation to support the Newport News Public Schools New Teacher Institute (NTI) program. The three-year step-down grant will help build a workforce pipeline by expanding first and second-year teacher programs, providing credentialing assistance, and investing in Career and Technical Education and ESL teachers.
The grant aims to ensure continued support for the NTI program as ESSER (Elementary and Secondary School Emergency Relief) funds expire. The recipient was selected from 21 nonprofit applicants based on their ability to address specific needs, financial investment soundness, and innovative project sustainability.
On December 10, 2024, Ferguson Enterprises filed a Form 10-Q with the U.S. Securities and Exchange Commission (SEC). The document is accessible on the SEC's website and the company's SEC Filings page.
Ferguson Enterprises announced the vesting of restricted stock units under its 2023 Omnibus Equity Incentive Plan for multiple Non-Employee Directors. The vesting occurred on December 5, 2024, and included dividend equivalent shares. Notable transactions include Board Chair Geoff Drabble receiving 414 shares, while new directors Rekha Agrawal and Richard Beckwitt, appointed in September 2024, received 296 shares each. Two directors, Thomas Schmitt and Nadia Shouraboura, stepped down at the 2024 Annual Meeting. All shares were released for nil consideration and were subject to dividend equivalent accrual.
Ferguson reported Q1 FY2025 results with sales of $7.8 billion, up 0.8% year-over-year. Sales volume grew 3%, partially offset by 2% deflation. The company maintained a gross margin of 30.1%, down 10 basis points, and an operating margin of 8.6% (9.1% adjusted).
Key financial highlights include diluted EPS of $2.34 ($2.45 adjusted), quarterly dividend increase of 5% to $0.83, and share repurchases of $256 million. The company completed one acquisition during the quarter and another subsequently, maintaining a strong balance sheet with net debt to adjusted EBITDA of 1.2x.
Ferguson's FY2025 guidance remains unchanged, projecting low single-digit net sales growth and adjusted operating margin of 9.0-9.5%.
Ferguson Enterprises announced the filing of a Form 8-K with the Securities and Exchange Commission on December 6, 2024. The filing relates to the company's 2024 annual meeting of stockholders. All business conducted at the meeting was classified as ordinary business under UK Listing Rules. The Form 8-K is accessible through both the SEC's website and Ferguson's corporate investor relations page.
Ferguson (NYSE: FERG; LSE: FERG) has announced it will release its first quarter results on Tuesday, December 10, 2024. The results will be published on Ferguson's website at 6:45 a.m. ET/11:45 a.m. GMT, followed by a conference call and webcast presentation for analysts and investors at 8:30 a.m. ET/1:30 p.m. GMT. A slide presentation will be available 15 minutes before the event, and both the webcast and slides will remain accessible on the company's website for 12 months.
On October 31, 2024, Ferguson Enterprises filed a Form 8-K with the U.S. Securities and Exchange Commission (SEC). This filing is accessible on the SEC's website and on Ferguson's SEC Filings page at corporate.ferguson.com/investor/financial-information/sec-filings.
Ferguson Enterprises Inc. (FERG) reported transactions by Persons Discharging Managerial Responsibilities (PDMRs) in the company's common stock. On October 14, 2024, conditional shares granted under the LTIP, OSP, and POSP in October 2021 automatically vested. Nine PDMRs sold shares on the same day. On October 15, 2024, the company granted Performance Awards, Restricted Stock Unit Awards, and Non-Qualified Stock Option Awards under the 2023 Omnibus Equity Incentive Plan. The press release details transactions for several executives, including CEO Kevin Murphy, CFO William Brundage, and other senior leaders, specifying the number of shares vested, sold, and granted under various plans.
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