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) has announced a total purchase of 241,000 ordinary shares from January 9 to January 12, 2023, as part of its $2.5 billion share repurchase program. The breakdown of purchases includes:
- January 9: 70,000 shares at $114.98
- January 10: 60,000 shares at $114.52
- January 11: 55,000 shares at $111.80
- January 12: 56,000 shares at $113.16
These shares will be held in treasury, bringing the total treasury shares to 25,282,150 and leaving 206,889,032 shares outstanding for shareholders.
Ferguson plc (NYSE:FERG) announced a quarterly dividend of $0.75 per share for Q1, payable on February 3, 2023, to shareholders registered by December 16, 2022. Shareholders can receive this dividend in US dollars or pounds sterling, with a currency exchange rate of 1.21740 GBP/USD, resulting in a GBP dividend of £0.61 per share for those opting for GBP. The currency election deadline was January 6, 2023. This dividend reflects the company’s commitment to returning value to shareholders.
Ferguson plc has announced a $2.5 billion share repurchase program effective from January 16, 2023, managed by brokers J.P. Morgan Securities. This program will run until March 20, 2023, with a maximum spending cap of £145 million for this tranche. The initiative aims to enhance shareholder value by reducing the company’s capital and potentially using repurchased shares for future awards. Notably, the company received authorization to buy back up to 20,845,062 shares during its Annual General Meeting on November 30, 2022.
Ferguson PLC has issued a notification regarding a major holding change initiated by Trian Fund Management, L.P.. As of January 6, 2023, Trian has decreased its voting rights in Ferguson to below 5%, down from 4.94%. This shift was triggered by the distribution of 3,795,799 ordinary shares from Trian Investors 1, L.P. to Trian Investors 1, Ltd. in anticipation of a mandatory redemption. The notification was submitted to the company and made public on January 11, 2023.
Ferguson plc (NYSE:FERG) announced the repurchase of 100,000 ordinary shares from December 26 to December 30, 2022, as part of its $2.5 billion share repurchase program. The repurchase included 50,000 shares on December 28 at an average price of 10,455.0000 and 50,000 shares on December 29 at 10,455.5907. Following these transactions, the total number of shares held in treasury will be 24,936,019, leaving 207,235,163 ordinary shares in issue.
Ferguson PLC has announced its total voting rights as of December 31, 2022, in compliance with DTR 5.6.1 regulations. The company has an issued share capital of 232,171,182 ordinary shares, with 24,936,019 treasury shares suspended. This results in 207,235,163 total voting rights, which shareholders need for compliance with the FCA's Disclosure Guidance and Transparency Rules. The announcement was made on January 3, 2023.
Ferguson plc (NYSE: FERG) reported the purchase of 260,000 ordinary shares from December 19 to December 23, 2022, under its $2.5 billion share repurchase program. The daily purchase details included:
- December 19: 60,000 shares at £10,236.15
- December 20: 70,000 shares at £10,175.00
- December 21: 80,000 shares at £10,276.40
- December 22: 50,000 shares at £10,250.00
After this purchase, the total shares held in treasury will be 24,836,019, leaving 207,335,163 ordinary shares in issue.
Ferguson plc has initiated a $2.5 billion share repurchase program, with a £110 million tranche commencing December 19, 2022. The independent broker Barclays will manage this non-discretionary arrangement until January 12, 2023. Shareholder approval allows for the purchase of up to 20,845,062 ordinary shares. This program aims to reduce company capital and may utilize repurchased shares for future awards. Transactions will occur on the London Stock Exchange and New York Stock Exchange, adhering to regulatory guidelines.
Ferguson plc filed its Form 10-Q with the SEC on December 8, 2022, which can be accessed on both the SEC's website and Ferguson's investor relations page. As a top distributor in North America, Ferguson focuses on providing solutions in various sectors including infrastructure, plumbing, and HVAC. The company aims to simplify customer projects while ensuring sustainability. For detailed information about the filing, interested parties can visit Ferguson's official site or the SEC's portal.
Ferguson plc announced the automatic vesting of conditional shares under its Long Term Incentive Plan (LTIP) on December 5, 2022. Key executives, including CEO Kevin Murphy, General Counsel Ian Graham, and Chief HR Officer Samantha Long, have vested a total of 46,760 shares, with the largest allocation being 43,625 shares to Murphy. These shares will be delivered to the executives in a forthcoming open period following the FY2023 Q1 results. This notification complies with the EU Market Abuse Regulation.
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