Ferguson PLC is a multinational company specialising in the distribution of plumbing and heating products to professional contractors. It is recognised as the world's largest distributor of plumbing and heating products and its operation spans across three regions - North America, the UK, and Canada. The company trades in the United States as Ferguson Enterprises.
Ferguson was initially founded as Wolseley in 1887 in Australia, and then repositioned to the UK in 1889. Around 1982, the company shifted its focus to become a specialist trade distributor. However, in 2017, the Wolseley Group changed its name to Ferguson PLC, drawn from its successful North American brand, to create a unified global identity.
At the core of Ferguson's business model is its commitment to providing outstanding customer service, high-quality products, and an unrivalled distribution network to its customers. The company sources its products from over 25,000 suppliers aimed at delivering the best and most cutting-edge products to its customers.
With underlying group revenue of over $22 billion, as of their 2021 annual report, Ferguson operates through approximately 2,500 service centers and branches that also include showrooms for high-end residential products. The company, listed on the London Stock Exchange, is a constituent of the FTSE 100 Index, indicative of its prominence in the market.
The company's strength lies in its vast supply chain network, highly trained associates, and commitment to the development and application of leading technology. They aim to offer personalised solutions and services, addressing the unique requirements of their individual customers.
With a strong emphasis on sustainability, Ferguson is committed to conducting business responsibly and minimizing their environmental footprint. The company continuously innovates to offer environmentally friendly and energy-efficient products. They also aim to improve their operations to be more energy-efficient and reduce waste.
Despite the challenges posed by a global pandemic, Ferguson demonstrated resilience, delivering strong financial results and continuing to provide invaluable services. Their continued growth and consistent performance are a testament to their dedication to fulfilling their customers' evolving needs and advancing the distribution of plumbing and heating products on an international scale.
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Virginia Retirement Systems ET Al reduced its stake in Ferguson plc (NYSE:FERG) by 25.8% in the third quarter, selling 25,100 shares, but still holds 72,000 shares valued at $16.0 million. Institutional investors collectively own 81.98% of the company, despite some insider selling by executives Jake Schlicher and Kevin Murphy. Ferguson maintains a "Moderate Buy" consensus rating with an average price target of $287.44, along with a $3.56 annualized dividend yielding about 1.5%.
Analysts have issued a consensus "Moderate Buy" rating for Ferguson plc (NYSE:FERG), setting an average 12-month price target of $287.28, significantly above its current trading price of $229.56. The company recently surpassed earnings expectations with an EPS of $3.39 on $8.75 billion in revenue, and it offers an annualized dividend of $3.56 per share. While institutional ownership is high, company insiders have sold approximately $8.6 million worth of shares over the past three months under pre-arranged trading plans.
EULAV Asset Management recently acquired 6,644 shares of Ferguson plc (NYSE:FERG) valued at approximately $1.48 million during the third quarter. Institutional investors now own 81.98% of the company's stock. Ferguson reported strong quarterly earnings, beating analyst estimates, and maintains a "Moderate Buy" consensus rating from analysts with an average price target of $287.28.
Robeco Schweiz AG reduced its stake in Ferguson plc by 12.8% in the third quarter, selling 35,186 shares and retaining 240,773 shares valued at approximately $53.6 million. Ferguson reported strong quarterly earnings of $3.39 per share, exceeding estimates, and pays a quarterly dividend of $0.89. Despite insider sales, analysts maintain a "Moderate Buy" consensus with an average price target significantly above the current stock price.
Sterling Capital Management LLC reduced its stake in Ferguson plc by 7.1% in the third quarter, selling 12,879 shares and retaining 169,716 shares valued at $37.8 million. Institutional investors and hedge funds now collectively own 81.98% of Ferguson's stock. Despite recent insider sales, Ferguson reported strong quarterly earnings, beating analyst expectations with adjusted EPS of $3.39, and maintains a quarterly dividend of $0.89 per share.
Assenagon Asset Management S.A. significantly reduced its stake in Ferguson plc (NYSE:FERG) by selling 58,765 shares, representing an 84.1% decrease in its holdings. Despite this, institutional investors collectively own 81.98% of the company, with several major funds increasing their positions. Ferguson reported strong quarterly earnings, beating estimates, and pays an annualized dividend of $3.56 per share, while analysts maintain a "Moderate Buy" consensus.
The State of Alaska Department of Revenue recently acquired 18,325 shares of Ferguson plc (FERG) worth approximately $4.1 million. This acquisition comes as institutional investors now collectively own 81.98% of the company. Ferguson reported strong quarterly results, exceeding EPS estimates, and analysts maintain a "Moderate Buy" rating with a consensus price target of $285.78, despite some insider selling that was conducted under pre-arranged plans.
Curated Wealth Partners LLC significantly reduced its stake in Ferguson plc by selling 44,485 shares, retaining 1,755 shares valued at $391,000. Despite this, institutional ownership remains high at 81.98%, with other major investors increasing their positions. Ferguson reported strong quarterly earnings of $3.39 EPS, surpassing estimates, and analysts maintain a "Moderate Buy" consensus with a price target of $285.78 against its current price of $231.42.
Vontobel Holding Ltd. significantly reduced its stake in Ferguson plc (NYSE:FERG) by 50.1% in the third quarter, selling 762,764 shares. Despite insider selling, analysts maintain a "Moderate Buy" rating with an average price target of $285.78, supported by Ferguson's latest earnings exceeding expectations and its consistent dividend payments. The company also reported a strong return on equity and continues to be a major distributor in plumbing and heating products.
Formuepleje A S has acquired a new stake in Ferguson plc, purchasing 8,802 shares valued at approximately $1.96 million, with other institutional investors also increasing their positions, bringing total institutional ownership to 81.98%. Despite recent insider sales totaling $7.16 million, these transactions were conducted under pre-arranged Rule 10b5-1 plans, and insiders maintain significant holdings. Analysts generally hold a "Moderate Buy" consensus rating for Ferguson, with an average price target of $285.78, significantly above the current stock price of $227.99, following the company's recent beat on quarterly EPS expectations.