Company
Ferguson PLC
LON:FERG
We are the world’s leading specialist distributor of plumbing and heating products. We supply plumbing and heating products to professional contractors and consumers in the USA, UK, Nordics, Canada and Central Europe. We are listed in the UK on the London Stock exchange (LSE:FERG) and are a constituent of the FTSE100 index. Ferguson American Depository Receipts (ADRs) are traded on the highest tier Over-The-Counter market in the USA under the symbol FERGY.
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Ferguson hikes dividend 15% and extends share buyback despite slowing growth
For the coming year, guidance was given for “low single digits” of net sales growth, with adjusted operating margin of 9.3% to 9.9%
Ferguson expected to deliver punchy full-year numbers
“Key will be the trading conditions over August/September and the outlook," said analysts at UBS
Ferguson: Pats on the back all round for the heating and plumbing group
“We see the business as well-positioned to take share consistently in the future,” Barclays said in a short note to clients
Ferguson positioned to be inflation winner according to Barclays
“We expect these conditions to continue throughout the first half of the current year"
Ferguson hands out the cash as sales and profits climb
Investors will also get a higher interim dividend of 72.9c payable in May
Ferguson sells UK business Wolseley to US private equity company
The plumber's merchant said its current intention is to return most of the proceeds to shareholders via a special dividend
Ferguson says revenues and profits both flowing steadily
Underlying operating profits rose by 11.8% on revenue up 3.1% in the first quarter
Archive
FTSE 100 ends up slightly; Northern Ireland protocol agreement sealed
Blimey, a bit of give and take in negotiations between the UK and EU. Which side is giving and which is taking?
Builders and building materials
Ferguson and Kingspan get downgrades from JPMorgan as valuations look full
Ferguson and Kingspan were both cut to ‘neutral’ ratings, with both shares trading significantly above the long-term average
Ferguson says trading steadily improved since April
"Despite the challenges of COVID-19, our trading improved in the fourth quarter," said chief executive Kevin Murphy
Ferguson says Wolseley UK revenues plunge 60% in April due to lockdown
The FTSE 100-listed firm said it still intends to push ahead with plans for a demerger of Wolseley this year
Ferguson upgraded by Credit Suisse, predicts dividend will resume later in 2020
Credit Suisse has set a price target of 6,181p for the plumbing products firm.
Ferguson quickly U-turns on dividend and share buyback due to coronavirus impact
The plumbing and heating group has also shelved plans for a potential Wall Street listing
Ferguson outpaces flat market, says "too early" to tell about coronavirus
Ferguson said the demerger process for Wolseley UK is “on track” for completion within the current calendar year, while an announcement on a potential listing on Wall Street will be made “later in the spring”
Ferguson seeks to avoid Unilever-style fall-out with US listing plans
Under a primary US listing, it is likely that Ferguson would move to US standards of governance and corporate responsibility in line with domestic peers
Builders and building materials
UBS offers mixed picture on building material firms as Ferguson upped to ‘buy’ while Travis Perkins knocked to ‘sell’
The Swiss bank said the market was "over-optimistic" about a recovery in the Uk market, while Travis Perkin's was unlikely to get the same benefits from competitor disruption in 2020 as it had done in the prior year
Ferguson brings in Canadian boss to manage demerging UK arm
Simon Oakland will become interim chief executive of Wolseley UK when Mark Higson leaves the company on 31 January, until a permanent successor is found
Ferguson beats flat US markets as outlook remains "modest"
The engineer is planning to demerge its lower-margin UK business, Wolseley UK, in 2020
Archive
RBS and Astrazeneca could provide big contrast on Thursday
Shares in Astra hit all-time highs in September after the FTSE 100-listed group reported updated results on the efficacy of Brilinta