Teacher Retention Improves in Newport News Public Schools through Accelerating Change Together (ACT) Grant

Rhea-AI Summary

Virginia Natural Gas (NYSE: SO) and partners funded a $500,000 ACT Grant awarded in December 2024 to Newport News Education Foundation to expand the Newport News Public Schools New Teacher Institute (NTI).

NTI reduced novice teacher turnover from 36% (2023–24) to 16% (2024–25) after one year, and the grant is structured as a three-year, step-down award supporting training, substitute coverage, and the iTeach licensure pathway.

Positive

• $500,000 grant awarded in December 2024
• Novice teacher turnover fell from 36% to 16% (2024–25)
• NTI expanded to provide two-year mentorship and job‑embedded training
• Grant funds enable full-day training via dedicated substitute coverage

Negative

• Funding is a three-year, step-down grant, implying reduced future support

News Market Reaction – FERG

+1.06%

+1.06% Session close to close

In the Mar 17 session, FERG gained 1.06%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement underscores Ferguson’s role in regional education and workforce development throug...

Analysis

This announcement underscores Ferguson’s role in regional education and workforce development through the ACT Grant partnership, rather than altering its financial outlook. Investors may contextualize this alongside recent results, including $31.3B in calendar 2025 revenue and a declared $0.89 dividend, plus upcoming governance milestones such as the April 30, 2026 annual meeting. Future assessments will likely focus on execution versus guidance and continued capital return decisions.

Key Figures

ACT Grant amount: $500,000 New teachers share: Nearly 30% Turnover reduction goal: 20% +5 more

8 metrics

ACT Grant amount $500,000 Awarded to Newport News Education Foundation in December 2024

New teachers share Nearly 30% NNPS classroom teachers in first three years of service

Turnover reduction goal 20% Target reduction in novice teacher turnover for NTI program

Baseline turnover 36% Novice teacher turnover rate in 2023–2024

Latest turnover 16% Novice teacher turnover rate in 2024–2025 after NTI support

Addressable market $340B Residential and non‑residential North American construction market

Ferguson sales $30.8 billion Ferguson FY25 sales cited in article

Ferguson associates Approximately 35,000 Number of associates across Ferguson’s network

Historical Context

5 past events · Latest: Mar 16 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Mar 16	Proxy & transition report	Neutral	+0.8%	Definitive proxy and transition report filed; annual meeting set for April 30.
Mar 04	Insider DRIP purchases	Positive	-0.3%	Directors and a PDMR acquired shares via dividend reinvestment plan.
Mar 02	Form 10-KT filing	Neutral	-1.4%	Form 10‑KT submitted, confirming access to detailed financial statements.
Feb 24	Earnings & guidance	Positive	+4.2%	Reported higher 2025 sales and EPS, issued 2026 guidance and cash flow data.
Feb 18	Dividend declaration	Positive	-0.8%	Announced $0.89 per share dividend with March and April key dates.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent FERG news has centered on filings, governance and capital returns. The largest move came on strong calendar 2025 results and 2026 guidance, while proxy, 10‑KT and dividend items saw relatively modest follow‑through, suggesting fundamentals and outlook drive the more material reactions.

Recent Company History

Over the last month, Ferguson has reported strong calendar 2025 performance with $31.3B in net sales and a 24.2% increase in diluted EPS, alongside guidance for 2026. The company also declared a $0.89 dividend and filed its Form 10‑KT and definitive proxy materials, setting the virtual annual meeting for April 30, 2026. Against this backdrop, today’s ACT Grant‑related community news reinforces Ferguson’s regional presence rather than altering its financial trajectory.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEWPORT NEWS, Va., March 17, 2026 /PRNewswire/ -- In classrooms across Newport News, new teachers are finding the support they need to thrive thanks to the Accelerating Change Together (ACT) Grant—a dynamic partnership between the BayPort Foundation, Ferguson, Newport News Shipbuilding (a division of HII), and Virginia Natural Gas. In December 2024, the $500,000 grant was awarded to the Newport News Education Foundation (NNEF) to strengthen the Newport News Public Schools (NNPS) New Teacher Institute (NTI), the division's expanded teacher support strategy.

With nearly 30% of NNPS classroom teachers in their first three years of service, the division is confronting nationwide education workforce trends, including increased retirements, declining enrollment in teacher preparation programs, and greater demand for alternative licensure pathways. In response, NNPS has strengthened and expanded its NTI program to better support and retain new educators. 

The NTI is a two-year program that welcomes new educators into the NNPS school division through mentorship, training, and community engagement. With ACT Grant support, the NTI set an ambitious goal to reduce turnover among novice teachers—those with five years of experience or less—by 20%. After just one year, the results were impressive. Baseline data from 2023–2024 showed a novice teacher turnover rate of 36%. By the 2024–2025 school year, that rate dropped dramatically to 16%, demonstrating the program's immediate and transformative impact on teacher retention.

"We are truly grateful to BayPort, Ferguson, Newport News Shipbuilding, and Virginia Natural Gas for their investment in our new teacher institute. The ACT Grant funds provide essential training, support, and resources for new educators, enhancing their effectiveness in the classroom and boosting retention," said Dr. Michele Mitchell, Superintendent of Newport News Public Schools.

The ACT Grant contributions committee expressed that supporting this institute is vital for developing a strong and sustainable educational system. By investing in teachers, the program helps create better opportunities for students across Virginia's workforce.

In the first year of a three-year, step-down grant, NNPS invested in professional development that delivers "just-in-time" support and job-embedded learning aligned to each teachers' grade levels and subject areas. The program's success is made possible by dedicated substitute coverage allowing teachers to engage in full-day training and coaching. The NTI also offers targeted professional development, including the innovative iTeach licensure pathway to support new educators' success.

The ACT Grant initiative was launched in 2022, with the first recipient being the Virginia Beach Education Foundation and Virginia Beach City Public Schools (VBCPS), which received funding for a new two-year, half-day Advanced Technology Center Renewable Energy Technologies program. For additional information on the ACT Grant, please visit actgrant.org.

About BayPort Foundation
BayPort Foundation is the charitable arm of BayPort Credit Union, headquartered in Newport News, Virginia and was established to extend the credit union's philosophy of "people helping people." The Foundation is an extension of the credit union's charitable giving. BayPort Credit Union commits more than half a million dollars in annual corporate donations and pays all the Foundation's overhead to ensure that 100% of the Foundation donations support its mission. For more information, visit bayportfoundation.org.

About Ferguson
Ferguson (NYSE: FERG; LSE: FERG) is the largest value-added distributor serving the water and air specialized professional in our $340B residential and non-residential North American construction market. We help make our customers' complex projects simple, successful and sustainable by providing expertise and a wide range of products and services from plumbing, HVAC, appliances, and lighting to PVF, water and wastewater solutions, and more. Headquartered in Newport News, Va., Ferguson has sales of $30.8 billion (FY25) and approximately 35,000 associates in over 1,700 locations. For more information, please visit corporate.ferguson.com. 

About HII
HII is America's largest shipbuilder, delivering the world's most powerful ships and all-domain mission technologies, including unmanned systems, to U.S. and allied defense customers. HII is the largest producer of unmanned underwater vehicles for the U.S. Navy and the world. With a more than 140-year history of advancing U.S. national security, HII builds and integrates defense capabilities extending from the core fleet to C6ISR, AI/ML, EW and synthetic training. Headquartered in Virginia, HII's workforce is 44,000 strong. For more information, please visit HII.com

About Virginia Natural Gas
Virginia Natural Gas is one of four natural gas distribution companies of Southern Company Gas, a wholly owned subsidiary of Southern Company (NYSE: SO). Virginia Natural Gas provides natural gas service to nearly 300,000 customers in southeast Virginia. Named a Top Workplace in 2024, Virginia Natural Gas also has been recognized as one of the safest, most reliable and customer-focused natural gas service providers and is consistently ranked in the top quartile for customer satisfaction by J.D. Power and Associates. For more information, visit virginianaturalgas.com. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/teacher-retention-improves-in-newport-news-public-schools-through-accelerating-change-together-act-grant-302716106.html

SOURCE BayPort Credit Union

FAQ

What did Virginia Natural Gas announce about the ACT Grant for Newport News (SO) on March 17, 2026?

They announced support for a $500,000 ACT Grant awarded December 2024 that funds NTI expansion. According to the company, the grant underwrites training, substitute coverage, and the iTeach licensure pathway over a three-year, step-down term.

How did the NTI affect novice teacher turnover in Newport News Public Schools (SO)?

NTI reduced novice teacher turnover from 36% to 16% in one year. According to the company, targeted mentorship, just-in-time professional development, and full-day coaching drove the immediate retention improvement.

What does the $500,000 ACT Grant fund for NNPS and how long does it last?

The grant funds professional development, substitute coverage, and licensure support over three years. According to the company, it is a step-down grant designed to support NTI expansion and training across the initial three-year period.

What is the NTI program supported by the ACT Grant in Newport News (SO)?

The NTI is a two-year program providing mentorship, training, and community engagement to new educators. According to the company, NTI offers job-embedded learning and iTeach licensure support aligned to grade and subject needs.

How material was the retention improvement for investors following the ACT Grant news about Virginia Natural Gas (SO)?

The release reports a drop in novice turnover from 36% to 16% within a year, a concrete operational improvement. According to the company, this demonstrates NTI's immediate impact on teacher retention in Newport News.