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 Enterprises Inc. distributes essential water and air products to specialized professionals in North American residential and non-residential construction markets. Its product categories include plumbing, HVAC, appliances, lighting, PVF, and water and wastewater solutions, supported by branch, showroom, phone, and digital customer channels.
Recurring Ferguson news covers operating results, organic and acquisition-driven growth, non-residential project demand, cash returns through dividends, and acquisitions used to consolidate fragmented distribution markets. Company updates also include strategic alliances for contractor e-commerce, SEC filing notices, annual-meeting matters, and Director/PDMR shareholding notifications tied to restricted stock units under the 2023 Omnibus Equity Incentive Plan.
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.