Ferguson is a holding company. Through its subsidiaries, Co. is a distributor of plumbing and heating products in the U.S. Co. operates nationally serving the residential, commercial, civil and industrial markets. Co. operates seven business units in the U.S.: Blended Branches, which provides plumbing and heating solutions ; Waterworks standalone, which distributes pipe, valves and fittings, hydrants, meters and related water management products; B2C e-commerce, which sells directly to consumers via websites using the product range and distribution network of the Blended Branches business; as well as Other, which comprises industrial standalone, fire and fabrication, and facilities supply.
  • TickerFERG
  • ISINJE00BJVNSS43
  • ExchangeLondon Stock Exchange
  • SectorSupport Services
  • CountryJersey
Sven Edelfelt ...
  • Virginie Rousseau

ODDO : The end of one world and the beginning of a new era

A state of rational panic has overtaken the world and the real economy. Investors are envisaging a worst-case scenario, whereby businesses very survival is under threat. We have set this scenario to music. Over and above the temporary effect of the shutdown of the construction industry, the stimulus plans announced in many countries are unlikely to enable a return to the 2019 level in 2021. We prefer the groups with the most solid balance sheets. We have upgraded our recommendati...

Sven Edelfelt ...
  • Virginie Rousseau

ODDO : La fin d’un monde et le début d’une ère nouvelle

Une panique rationnelle a désormais gagné le monde et l’économie réelle. Les investisseurs envisagent le scénario du pire, dans lequel la pérennité des entreprises est menacée. Nous avons mis en musique ce scénario. Au-delà de l’effet temporaire de la mise à l’arrêt de l’industrie de la construction, les plans de relance annoncés dans de nombreux pays ne devraient pas permettre de retrouver le niveau de 2019 en 2021. Nous favorisons les sociétés aux bilans les plus solides. Nous ...

Sven Edelfelt ...
  • Virginie Rousseau

ODDO : The end of one world and the beginning of a new era

A state of rational panic has overtaken the world and the real economy. Investors are envisaging a worst-case scenario, whereby businesses very survival is under threat. We have set this scenario to music. Over and above the temporary effect of the shutdown of the construction industry, the stimulus plans announced in many countries are unlikely to enable a return to the 2019 level in 2021. We prefer the groups with the most solid balance sheets. We have upgraded our recommendati...

Sven Edelfelt ...
  • Virginie Rousseau

ODDO : La fin d’un monde et le début d’une ère nouvelle

Une panique rationnelle a désormais gagné le monde et l’économie réelle. Les investisseurs envisagent le scénario du pire, dans lequel la pérennité des entreprises est menacée. Nous avons mis en musique ce scénario. Au-delà de l’effet temporaire de la mise à l’arrêt de l’industrie de la construction, les plans de relance annoncés dans de nombreux pays ne devraient pas permettre de retrouver le niveau de 2019 en 2021. Nous favorisons les sociétés aux bilans les plus solides. Nous ...

Alain William ...
  • Alfred Glaser
  • Benoit Valleaux
  • Bruno Cavalier
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jean Sassus
  • Martial Descoutures
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/06/2020

A sector hard hit by COVID-19, with EPS estimates slashed by 35% and target prices by >25%; many high-risk stocks (e.g. Haulotte, Manitou, Exel Industries …) and few safe profiles (e.g. Albioma, Rubis and GTT). - ...

Sven Edelfelt ...
  • Virginie Rousseau

ODDO : The end of one world and the beginning of a new era

A state of rational panic has overtaken the world and the real economy. Investors are envisaging a worst-case scenario, whereby businesses very survival is under threat. We have set this scenario to music. Over and above the temporary effect of the shutdown of the construction industry, the stimulus plans announced in many countries are unlikely to enable a return to the 2019 level in 2021. We prefer the groups with the most solid balance sheets. We have upgraded our recommendati...

Sven Edelfelt ...
  • Virginie Rousseau

ODDO : La fin d’un monde et le début d’une ère nouvelle

Une panique rationnelle a désormais gagné le monde et l’économie réelle. Les investisseurs envisagent le scénario du pire, dans lequel la pérennité des entreprises est menacée. Nous avons mis en musique ce scénario. Au-delà de l’effet temporaire de la mise à l’arrêt de l’industrie de la construction, les plans de relance annoncés dans de nombreux pays ne devraient pas permettre de retrouver le niveau de 2019 en 2021. Nous favorisons les sociétés aux bilans les plus solides. Nous ...

Sven Edelfelt ...
  • Virginie Rousseau

ODDO : The end of one world and the beginning of a new era

A state of rational panic has overtaken the world and the real economy. Investors are envisaging a worst-case scenario, whereby businesses very survival is under threat. We have set this scenario to music. Over and above the temporary effect of the shutdown of the construction industry, the stimulus plans announced in many countries are unlikely to enable a return to the 2019 level in 2021. We prefer the groups with the most solid balance sheets. We have upgraded our recommendati...

Sven Edelfelt ...
  • Virginie Rousseau

ODDO : La fin d’un monde et le début d’une ère nouvelle

Une panique rationnelle a désormais gagné le monde et l’économie réelle. Les investisseurs envisagent le scénario du pire, dans lequel la pérennité des entreprises est menacée. Nous avons mis en musique ce scénario. Au-delà de l’effet temporaire de la mise à l’arrêt de l’industrie de la construction, les plans de relance annoncés dans de nombreux pays ne devraient pas permettre de retrouver le niveau de 2019 en 2021. Nous favorisons les sociétés aux bilans les plus solides. Nous ...

Delphine Brault ...
  • Sven Edelfelt
  • Virginie Rousseau

ODDO : Sudden halt to activity in the construction sector in France

>80% of building sites at a standstill in France according to a FNTP survey - A recent survey of its members by the national public works federation (FNTP) sheds an interesting light on the situation on the construction market in France (survey conducted between 23 and 26 March). Nearly 1,600 companies responded (21%) with an overweighting for the Auvergne Rhône-Alpes, Hauts-de-France, Brittany and Ile-de-France regions. 80% of companies reported a complete stoppage o...

Alain William ...
  • Alfred Glaser
  • Benoit Valleaux
  • Bruno Cavalier
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jean Sassus
  • Martial Descoutures
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/06/2020

A sector hard hit by COVID-19, with EPS estimates slashed by 35% and target prices by >25%; many high-risk stocks (e.g. Haulotte, Manitou, Exel Industries …) and few safe profiles (e.g. Albioma, Rubis and GTT). - ...

Delphine Brault ...
  • Emmanuel Matot
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF Small & MIDCAP MORNING NEWS - 04/06/2020

A sector hard hit by COVID-19, with EPS estimates slashed by 35% and target prices by >25%; many high-risk stocks (e.g. Haulotte, Manitou, Exel Industries …) and few safe profiles (e.g. Albioma, Rubis and GTT). - ...

Alain William ...
  • Alfred Glaser
  • Benoit Valleaux
  • Bruno Cavalier
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jean Sassus
  • Martial Descoutures
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/04/2020

Un secteur très impacté par COVID-19 avec une révision en baisse de ~35% des BPA et >25% de nos OC – De nombreux dossiers à risque élevé (Haulotte, Manitou, Exel Industries…) et rares sont les profils assez safe (Albioma, Rubis, GTT). - ...

Delphine Brault ...
  • Emmanuel Matot
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF Small & MIDCAP MORNING NEWS - 06/04/2020

Un secteur très impacté par COVID-19 avec une révision en baisse de ~35% des BPA et >25% de nos OC – De nombreux dossiers à risque élevé (Haulotte, Manitou, Exel Industries…) et rares sont les profils assez safe (Albioma, Rubis, GTT). - ...

Anis Zgaya ...
  • Christophe-Raphaël Ganet
  • Florent Laroche-Joubert
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard, CFA
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Oussema Denguir
  • Philippe Ourpatian
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/18/2020

...

FERGUSON PLC. suffers a double requalification, which weighs heavily on its rating, now at Neutral.

The independent financial analyst theScreener just downgraded the general evaluation of FERGUSON PLC. (GB), active in the Building Materials & Fixtures industry. As regards its fundamental valuation, the title loses a star(s) and now shows 1 out of 4 stars. Its market behaviour is also negatively reassessed and may be considered as moderately risky. theScreener believes that this double requalification keeps the title under pressure and justifies an overall rating downgrade to Neutral. As of the analysis date January 31, 2020, the closing price was GBp 6,802.00 and its target price was estimat...

Expert Corporate Governance Service (ECGS)

Ferguson - AGM 21 November 2019

Board changes: The CEO, John Martin, will step down on 19 November 2019 when he will be succeeded by Kevin Murphy, currently Chief Executive Officer USA. For the new CEO, Ferguson amend and proposes to vote a new remuneration policy with increased incentive caps (up to 700% of the base salary from the previous 500%). The Board Chairman, Gareth Davis, is also leaving his chair at the AGM and the Board in January 2020. Geoffrey Drabble, former chief executive of Ashtead Group, is a successor. Finally, Darren Shapland is also stepping down as a Non-Executive Director and Chairman of the Audit ...

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