Who Owns Ferguson Company?

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Who Owns Ferguson Company?

Understanding a company's ownership is key to grasping its strategy and accountability. Ferguson plc recently underwent a significant corporate change, merging into Ferguson Enterprises Inc., a Delaware corporation, on August 1, 2024. This strategic move established Ferguson Enterprises Inc. as the new ultimate parent company, with its headquarters now in Newport News, Virginia, USA, aligning governance with its core North American operations.

This reorganization better reflects the company's operational focus and leadership structure. Ferguson is a major distributor of plumbing, HVAC, and waterworks products, serving a wide range of customers from contractors to homeowners.

Who owns Ferguson Company?

The origins of Ferguson Company trace back to 1953, established by Charles Ferguson, Ralph Lenz, and Johnny Smither in Newport News, Virginia. With an initial investment of $165,000, their early focus was on supplying smaller plumbing contractors, leading to the establishment of initial branches in Maryland and Alabama. The company's foundational structure began to solidify with the creation of Crossroads Supply in 1954, serving as the overarching entity for these nascent operations.

Founding Vision

The founders aimed to cater to the needs of smaller plumbing contractors. This niche focus guided their initial expansion efforts.

Early Capitalization

The company commenced operations with an initial capital of $165,000. This seed money was crucial for establishing their first locations.

Geographic Expansion

Initial operations were based in Newport News, Virginia, with early branches in Colmar Manor, Maryland, and Birmingham, Alabama. Crossroads Supply was formed in 1954 to manage these sites.

Growth Milestones

By 1970, sales reached $7 million, and the company opened its first showroom. Significant acceleration occurred in 1978 with the opening of a distribution center, leading to $81 million in sales.

Leadership Transition

David Peebles, who founded Peebles Supply in 1959, became the company's second president in 1969. He was instrumental in renaming the managing company to Ferguson Enterprises Inc.

Entrepreneurial Culture

Under Peebles' leadership, the company fostered an entrepreneurial spirit, with managers structuring businesses to meet local market demands. This approach fueled significant expansion.

The company's expansion continued steadily, reaching 76 locations across 11 states by 1982, with annual sales totaling $142 million. This period of growth preceded its acquisition by Wolseley plc. The early ownership structure was characterized by the founding trio, with David Peebles later playing a pivotal role in the company's growth and renaming, significantly shaping the Ferguson Company ownership history.

Key Early Developments

The initial years saw the establishment of core operations and a strategic focus on serving specific market segments. This laid the groundwork for future expansion and market penetration.

• Founded in 1953 by Charles Ferguson, Ralph Lenz, and Johnny Smither.
• Initial capital: $165,000.
• First locations in Newport News, Virginia; Colmar Manor, Maryland; and Birmingham, Alabama.
• Crossroads Supply established in 1954 as the umbrella company.
• Sales reached $7 million by 1970.
• David Peebles became president in 1969 and renamed the company.
• By 1982, the company operated 76 locations across 11 states with $142 million in sales.
• Acquired by Wolseley plc in 1982.

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The ownership of Ferguson has undergone significant transformations, notably with the 1982 acquisition by Wolseley plc. This marked a new era of expansion, leading to the company eventually adopting the name Ferguson plc in 2017 to reflect its primary North American focus. A major restructuring in August 2024 established Ferguson Enterprises Inc. as the ultimate parent company.

As of September 2023, Ferguson plc's shareholder base was predominantly institutional, with these investors holding approximately 81% of the shares. BlackRock was the largest single shareholder, owning about 12.5%, followed by Vanguard Group with around 9.5%. This trend of high institutional ownership continued, reaching 94.41% as of June 2025, underscoring the significant influence of large investment firms in the Ferguson company structure.

Key Stakeholders and Financial Overview

Institutional investors are the primary owners of Ferguson, reflecting a strong confidence in its market position and financial performance.

• Institutional investors held 94.41% of shares as of June 2025.
• BlackRock was the largest shareholder with approximately 12.5% in September 2023.
• Vanguard Group held around 9.5% of shares in September 2023.
• Ferguson reported sales of $29.6 billion for the fiscal year ending July 31, 2024.
• The company maintained a net debt to adjusted EBITDA of 1.1x as of July 31, 2024.
• There were 200,739,472 outstanding shares of common stock as of September 20, 2024.

Understanding who owns Ferguson Company involves recognizing the evolution from its acquisition by Wolseley plc to its current structure as Ferguson Enterprises Inc. The company's commitment to its North American operations is evident in its strategic decisions, such as divesting European businesses. For those interested in the company's guiding principles, exploring the Mission, Vision & Core Values of Ferguson provides further insight into its operational philosophy.

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The current specific composition of Ferguson Enterprises Inc.'s Board of Directors, detailing which members represent major shareholders, founders, or independent seats, and the precise voting structure is not explicitly detailed in publicly available information for 2024-2025. However, Geoffrey Drabble serves as the Chairman, and Kevin Murphy holds the position of President & CEO.

For publicly traded entities like Ferguson Enterprises Inc. (NYSE: FERG), the typical voting structure adheres to a one-share-one-vote principle for common stock. Institutional investors, who held a substantial majority of 94.41% of shares as of June 2025, wield considerable voting power. The company's annual report and proxy statements, filed with the SEC, are the definitive sources for detailed governance information, including board member affiliations and any unique voting arrangements. These filings, such as the Definitive Proxy Statement and Annual Report for the fiscal year ended July 31, 2024, filed on October 15, 2024, would contain such crucial governance details. The significant institutional ownership suggests these large shareholders play a pivotal role in company governance, influencing policies and strategic direction. The company's consistent return of value to shareholders through share repurchases and dividends indicates alignment between the board, management, and shareholder interests, reflecting a strong focus on Revenue Streams & Business Model of Ferguson.

Understanding Ferguson Company's Board and Voting Power

Ferguson Enterprises Inc.'s board structure and voting power are primarily influenced by its significant institutional ownership. Understanding these dynamics is key to grasping the company's governance.

• Institutional investors hold a dominant 94.41% of shares as of June 2025.
• The standard voting structure is typically one-share-one-vote for common stock.
• Board members' affiliations and specific representation are detailed in SEC filings.
• The Chairman is Geoffrey Drabble and the President & CEO is Kevin Murphy.
• Shareholder interests are generally aligned with board and management decisions.

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In recent years, Ferguson has undergone significant structural and strategic shifts, notably its increased concentration on North America and the subsequent sale of its European operations in 2021. This period also saw the company enhance its accessibility to investors by listing its ordinary shares on the New York Stock Exchange in March 2021, complementing its existing listing on the London Stock Exchange.

The corporate reorganization finalized on August 1, 2024, established Ferguson Enterprises Inc., a Delaware corporation, as the ultimate parent company. This strategic move, with headquarters now in Newport News, Virginia, aims to better align the company's governance with its substantial North American operations. This structural change is a key aspect of understanding the current Ferguson company structure and who owns Ferguson.

Shareholder Returns

Ferguson has actively pursued share buyback programs, signaling strong cash flow. In fiscal year 2025, year-to-date repurchases reached $759 million as of July 31, 2024, with approximately $1.1 billion remaining under the authorization. The company also extended its share repurchase program by an additional $1.0 billion in Q2 FY2025.

Strategic Acquisitions

Acquisitions remain a core growth strategy, with $0.3 billion invested in ten acquisitions in fiscal year 2024, contributing approximately $400 million in annualized revenue. Recent additions include Independent Pipe & Supply and National Fire, acquired in March and April 2025 respectively, expanding market presence.

Financial Performance and Outlook

For the fiscal year ending July 31, 2024, sales reached $29.6 billion. Through the first three quarters of fiscal year 2025, cumulative revenue was $22.265 billion, a 2.66% increase year-over-year. The company declared a quarterly dividend of $0.83 per share for Q3 FY2025, a 5% increase.

Market Sentiment and Stock Performance

Analyst ratings in August 2025 generally suggest a 'Moderate Buy' for Ferguson stock, with price targets between $215 and $280. The stock achieved a 52-week high of $227.95 in July 2025, marking a 31.94% gain year-to-date, reflecting positive investor sentiment. This performance underscores the company's ongoing Growth Strategy of Ferguson.

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