Ferguson Share Repurchase Program - Weekly Report

Rhea-AI Summary

Ferguson plc announces the purchase of 91,645 of its ordinary shares as part of a $3.0 billion share repurchase program.

Financial Analyst

The recent share repurchase by Ferguson plc represents a significant utilization of the company's $3.0 billion share repurchase program. Share buybacks are often employed by companies to return capital to shareholders and can indicate a self-assessment of being undervalued. From a financial perspective, this action could potentially increase the earnings per share (EPS) as it reduces the number of outstanding shares, potentially making the remaining shares more valuable.

However, it is crucial to consider the opportunity cost of such a buyback. The funds used for repurchasing shares could have been invested in growth opportunities or used to reduce debt. Stakeholders should evaluate the company's growth prospects and debt levels to assess the prudence of this capital allocation decision. The timing and size of the buyback also warrant attention, as they may reflect management's confidence in the company's financial health and future performance.

Market Research Analyst

Share repurchase programs can influence market perception and investor confidence. By analyzing the market response to Ferguson's announcement, one can gauge the effectiveness of the buyback in signaling financial strength to the market. It's also important to observe the stock's trading volume and price movement during the repurchase period for any anomalies or trends that could suggest market sentiment.

Additionally, the construction and home improvement sectors, where Ferguson operates, should be considered. These sectors are sensitive to economic cycles and housing market trends. The repurchase program may be a strategic move to bolster shareholder value amidst market fluctuations. Understanding the broader industry context can provide insights into the potential long-term impact of the repurchase on Ferguson's market positioning.

WOKINGHAM, England--(BUSINESS WIRE)-- Ferguson plc (NYSE: FERG, LSE: FERG) (the “Company”) announces today that it purchased a total of 91,645 of its ordinary shares in the period from March 4, 2024, up to and including March 8, 2024, in connection with its $3.0 billion share repurchase program.

Aggregated information about the purchases carried out during this period

Trading Day	Aggregate Daily Volume (in number of shares)	Daily weighted average purchase price of the shares (USD)	Trading Venue
March 4, 2024	434	214.6645	ARCX
March 4, 2024	200	214.6250	XNAS
March 4, 2024	11,565	214.9906	XNYS
March 5, 2024	3,100	202.7500	ARCX
March 5, 2024	1	202.2600	BATS
March 5, 2024	190	205.5900	KNLI
March 5, 2024	1	203.0300	XASE
March 5, 2024	1,000	201.9330	XNAS
March 5, 2024	48,156	202.9446	XNYS
March 6, 2024	100	200.0600	ARCX
March 6, 2024	300	200.1800	XNAS
March 6, 2024	4,600	200.3448	XNYS
March 7, 2024	500	200.8620	ARCX
March 7, 2024	100	200.3800	XNAS
March 7, 2024	5,316	200.5870	XNYS
March 8, 2024	796	199.4382	ARCX
March 8, 2024	800	199.2863	XNAS
March 8, 2024	14,486	199.6864	XNYS

The Company intends to hold these shares in treasury. Following the purchase of these shares (including those purchased but not yet settled), the number of shares held by the Company in treasury will be 29,451,675.

Following the purchase of these shares, the remaining number of ordinary shares in issue will be 202,719,507. The figure of 202,719,507 may be used by shareholders (and others with notification obligations) as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018, and the Commission Delegated Regulation (EU) 2016/1052, detailed information about the individual purchases can be found at Ferguson - Investors - Shareholder Center - Share Buy-Back Details - 2024 Share Buy-Back.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240313787882/en/

For further information please contact:

Brian Lantz, Vice President IR and Communications +1 224 285 2410



Pete Kennedy, Director of Investor Relations +1 757 603 0111

Source: Ferguson plc

How many ordinary shares did Ferguson plc purchase?

Ferguson plc purchased a total of 91,645 of its ordinary shares.

What is the total value of Ferguson plc's share repurchase program?

Ferguson plc's share repurchase program is valued at $3.0 billion.

When did Ferguson plc purchase the shares?

Ferguson plc purchased the shares between March 4, 2024, and March 8, 2024.