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) announced on March 25, 2021, that it repurchased 70,000 ordinary shares at a price of £85.65 each as part of its ongoing $400 million share repurchase program initiated on March 16, 2021. Following this transaction, Ferguson holds a total of 7,340,571 shares in Treasury, while the remaining number of ordinary shares in issue is 224,830,611. This information is crucial for shareholders and other stakeholders for compliance with the Disclosure and Transparency Rules.
Ferguson plc (NYSE:FERG) announced on March 24, 2021, a share repurchase of 70,000 ordinary shares as part of its $400 million program disclosed earlier. The shares were purchased at a price of £86.335394 each, with Barclays Capital Securities Limited acting as the broker. Following this repurchase, Ferguson holds a total of 7,271,874 shares in Treasury. The total number of ordinary shares now in circulation is 224,899,308, which shareholders should use for calculating any changes in their interest under the Disclosure and Transparency Rules.
Ferguson plc (NYSE:FERG) announced on March 23, 2021, the repurchase of 60,000 ordinary shares under its $400 million share buyback program announced on March 16, 2021. Shares were bought at a price of £85.86 each, bringing the total shares held in treasury to 7,201,874. After this buyback, the total number of ordinary shares in circulation is 224,969,308. This information is crucial for shareholders for transparency calculations under the Disclosure and Transparency Rules.
Ferguson plc announced a transaction involving Michael Brooks, the Chief Marketing Officer, USA, who disposed of fractional ordinary shares following a mandatory exchange of ADSs for ordinary shares. This transaction was reported in compliance with the EU Market Abuse Regulation. The shares were sold at a price of $125.7521 for a volume of 0.0721 shares on March 17, 2021. Details of the transaction, including the issuer's information, were disclosed in accordance with legal requirements.
Ferguson PLC announced a share buyback program aimed at repurchasing up to US$400 million of its shares over the coming year. The initial phase will involve £215 million in share purchases starting March 22, 2021, and concluding by June 11, 2021. This initiative is authorized by shareholders and intends to reduce the company’s capital. Shares bought may also be used for employee share options. The program conforms to market regulations and aims to enhance shareholder value by utilizing an independent broker, Barclays Capital Securities.
Ferguson plc (NYSE:FERG) announced its financial results for the first half of 2021, showing a 4.2% increase in revenue to $10.3 billion compared to $9.9 billion in the same period last year. Profit before tax rose by 17.7% to $739 million, while basic earnings per share increased 33.7% to 271.1c. The company is implementing a $400 million share buyback program and will pay a special dividend of 180 cents per share in May 2021. Despite challenges, Ferguson maintains a strong balance sheet with low leverage of 1.0x.
On March 15, 2021, Ferguson plc reported notifications of share disposals by its managerial personnel due to the mandatory exchange of American Depository Shares (ADSs) for ordinary shares. Significant transactions included William Brundage, the Group CFO, and other key executives disposing of fractional share entitlements. Each transaction occurred on March 10, 2021, at prices around $120.62 per share on the New York Stock Exchange. This notification complies with the EU Market Abuse Regulation and pertains to ordinary shares of 10p each.
Ferguson plc announced a transaction involving its Group Chief Executive Officer, Kevin Murphy, regarding the disposal of fractional ordinary shares. This occurred as a result of the mandatory exchange of ADSs to ordinary shares. The transaction was executed on March 9, 2021, at a price of $122.7915 per share, totaling 0.2 shares. The information is disclosed in compliance with the EU Market Abuse Regulation, reflecting transparency in managerial transactions and adherence to legal obligations.
Ferguson plc (LSE:FERG, NYSE:FERG) announced the termination of its American Depositary Receipt (ADR) program on March 8, 2021, transitioning to a full listing of ordinary shares on the NYSE. This mandatory exchange involved converting 18,952 ADSs into 1,895 ordinary shares at a 10:1 ratio, among other PDMRs exchanging varying amounts of ADSs for ordinary shares. No consideration was involved in these exchanges. The notification complies with EU Market Abuse Regulation, detailing the transactions of key managerial personnel including the Group CEO and CFO.
Ferguson plc announces the effective Additional US Listing of its ordinary shares on the New York Stock Exchange (NYSE) from 09:00 am (Eastern) today. This move, following the disposal of Wolseley UK, ensures that 100% of revenues are derived from North America. Ferguson retains its premium listing on the London Stock Exchange and the FTSE 100 index. The ADR program by J.P. Morgan has been terminated, and existing ADSs will be exchanged for ordinary shares. The Board plans a future shareholder vote to change the primary listing to the US.
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