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 plc (NYSE:FERG) reported that it bought back 61,560 ordinary shares between April 17 and April 21, 2023, as part of its $2.5 billion share repurchase program. The company aims to hold these shares in treasury, increasing its treasury shares to 27,103,700. Post-purchase, the total number of ordinary shares issued will be 205,067,482, which serves as a reference number for shareholders to assess their interests under relevant regulations. The average purchase prices for the shares ranged from $105.26 to $109.43 across the trading days, with a notable volume on April 18 and 19.
This activity highlights Ferguson's commitment to enhancing shareholder value through effective capital management.
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