Core Viewpoint - Ferguson plc (FERG) has experienced significant selling pressure, resulting in a 13.6% decline in stock price over the past four weeks, but analysts anticipate improved earnings in the near future [1] Group 1: Technical Analysis - The Relative Strength Index (RSI) is utilized to determine if a stock is oversold, with readings below 30 indicating oversold conditions [2] - FERG's current RSI reading of 28.69 suggests that the heavy selling may be nearing exhaustion, indicating a potential bounce back towards equilibrium [5] Group 2: Fundamental Analysis - Analysts have raised earnings estimates for FERG, with a 1.1% increase in the consensus EPS estimate over the last 30 days, which typically correlates with price appreciation [7] - FERG holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, indicating a strong potential for a turnaround [8]

Core Viewpoint - Ferguson plc has been upgraded to a Zacks Rank 2 (Buy), indicating a positive trend in earnings estimates which is a significant factor influencing stock prices [1][3]. Earnings Outlook - The Zacks rating upgrade reflects an improved earnings outlook for Ferguson plc, which is expected to positively impact its stock price [3][5]. - For the fiscal year ending July 2026, Ferguson plc is projected to earn $10.99 per share, with a 0.8% increase in the Zacks Consensus Estimate over the past three months [8]. Impact of Earnings Estimates - Changes in a company's earnings potential, as shown by earnings estimate revisions, are strongly correlated with short-term stock price movements, particularly due to institutional investors adjusting their valuations based on these estimates [4][6]. - The Zacks Rank system effectively utilizes earnings estimate revisions to classify stocks, with a strong historical performance indicating that Zacks Rank 1 stocks have generated an average annual return of +25% since 1988 [7]. Stock Classification - The Zacks Rank system maintains a balanced distribution of ratings, with only the top 20% of stocks receiving a "Strong Buy" or "Buy" rating, suggesting that Ferguson plc's upgrade places it among stocks with superior earnings estimate revisions [9][10].

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Ferguson plc (FERG) - Ferguson plc currently holds a Momentum Style Score of B, indicating a positive momentum outlook [3] - The company has a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance in the market [4] Performance Metrics - Over the past week, FERG shares increased by 2.26%, while the Zacks Manufacturing - General Industrial industry saw a decline of 0.11% [6] - In the last month, FERG's price change was 3.29%, outperforming the industry's 8.1% [6] - Over the past quarter, FERG shares rose by 4.98%, and over the last year, they increased by 46.91%, compared to the S&P 500's gains of 1.28% and 18.65%, respectively [7] Trading Volume - FERG's average 20-day trading volume is 1,501,824 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the last two months, one earnings estimate for FERG increased, while none decreased, raising the consensus estimate from $10.57 to $11.08 [10] - For the next fiscal year, one estimate has also moved upwards with no downward revisions [10] Conclusion - Given the positive momentum indicators and earnings outlook, FERG is positioned as a strong buy candidate for investors seeking short-term opportunities [12]

Core Insights - Ferguson Enterprises Inc. filed a Form 10-KT with the U.S. Securities and Exchange Commission on February 27, 2026, which is accessible on both the SEC's website and the Company's investor relations page [1]. Company Overview - Ferguson is recognized as North America's largest value-added distributor of essential water and related products [1].

Summary of Ferguson's Earnings Conference Call Company Overview - **Company**: Ferguson - **Industry**: Value-added distribution of essential water and air solutions - **Market Opportunity**: Represents a $340 billion market opportunity in North America, with a balanced business mix of 50% residential and 50% non-residential [doc id='18'][doc id='19'] Financial Performance Highlights - **Revenue**: $31.3 billion, a 5% increase from the previous year [doc id='5'] - **Operating Profit**: $3 billion, up 11.3%, with an operating margin of 9.6% [doc id='6'] - **Diluted Earnings Per Share**: $10.58, a 13.4% increase [doc id='6'] - **Operating Cash Flow**: $2.2 billion, allowing for continued investment in growth areas [doc id='6'] - **Shareholder Returns**: $1.6 billion returned via dividends and share repurchases [doc id='6] Market Performance by Segment - **Residential Markets**: Revenue flat; challenges due to decreased housing starts and soft repair, maintenance, and improvement (RMI) work [doc id='7'] - **Non-Residential Markets**: Revenue up 11%, driven by large capital projects [doc id='7'] - **Waterworks Revenue**: Grew by 13%, benefiting from strength in large capital projects and public works [doc id='8] - **HVAC Revenue**: Declined by 1% due to weak new residential construction activity [doc id='8] Strategic Initiatives and Market Positioning - **Growth Strategy**: Focus on multi-customer group approach and consolidation of fragmented markets through acquisitions [doc id='9'][doc id='22'] - **Investment in Capabilities**: Continued investment in digital tools, virtual design, and custom fabrication to enhance project management [doc id='26'] - **Market Trends**: Identified four structural trends: large capital projects, water infrastructure, climate and comfort, and aging housing [doc id='26'] Guidance for Calendar Year 2026 - **Revenue Growth Expectation**: Low to mid-single-digit growth anticipated, with residential markets expected to decline slightly [doc id='16] - **Operating Margin Guidance**: Expected range of 9.4% to 9.8% [doc id='16] - **Capital Expenditures**: Estimated at $350 million to $400 million [doc id='16] Long-term Financial Outlook - **Historical Growth**: Annual revenue growth of 8% and operating profit growth of 11% over the past decade [doc id='36'] - **Future Growth Expectations**: Total annual growth expected in the range of 6% to 11%, driven by organic growth and acquisitions [doc id='42'] - **Operating Margin Expansion**: Expected incremental expansion of 10-30 basis points per year [doc id='45] Key Challenges and Considerations - **Market Conditions**: Mixed market conditions with pressures on residential construction and HVAC sectors [doc id='75] - **Pricing Dynamics**: Anticipation of stable pricing with no expected deflation despite tariff changes [doc id='82] Conclusion - Ferguson is well-positioned to capitalize on long-term structural trends in the water and air solutions market, leveraging its scale, capabilities, and strategic initiatives to drive growth and shareholder value [doc id='47']

Results Presentation Update on Market Opportunities and Strategy Period Ended December 31, 2025 Legal Disclaimer Cautionary note on forward-looking statements Certain information included in this presentation and discussed on the conference call that this presentation accompanies is forward-looking, including within the meaning of the Private Securities Litigation Reform Act of 1995, and involves risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed o ...

Core Insights - Artisan Mid Cap Fund's fourth-quarter 2025 investor letter highlights the performance of the fund and its investment strategy, focusing on companies with strong earnings and trading at a discount to private market value [1] Fund Performance - The Fund's Investor Class (ARTMX) delivered -0.44%, Advisor Class (APDMX) -0.37%, and Institutional Class (APHMX) -0.35% in Q4 2025, compared to -3.70% for the Russell Midcap® Growth Index [1] - Continued strength in information technology and health care sectors contributed positively to the fund's performance during the quarter [1] Ferguson Enterprises Inc. (NYSE:FERG) - Ferguson Enterprises Inc. is a leading distributor of plumbing, HVAC, waterworks, and related building materials, with a market capitalization of $50.458 billion [2] - The stock closed at $251.31 per share on February 23, 2026, with a one-month return of -0.10% and a 52-week gain of 44.09% [2] - Artisan Mid Cap Fund exited its investment in Ferguson due to rising valuations and a less compelling risk-reward profile compared to other construction-related stocks [3] - Ferguson is not among the 30 most popular stocks among hedge funds, with 84 hedge fund portfolios holding the stock at the end of Q4 2025, down from 87 in the previous quarter [4]

Core Insights - Ferguson Enterprises reported strong financial results for calendar year 2025, with net sales of $31.3 billion, a 5.0% increase from the previous year, driven by organic revenue growth and acquisitions [1][2] - The company has issued guidance for 2026, expecting low to mid-single digit growth in net sales and an adjusted operating margin of 9.4% to 9.8% [1][2] Financial Performance - The balance sheet remains robust, with a net debt to adjusted EBITDA ratio of 1.1x [1][2] - Operating cash flow for the year was $2.2 billion, with diluted earnings per share reaching $10.16, a 24.2% increase year-over-year [1][2] - Gross margin improved to 31.0%, up 70 basis points from the previous year, while operating margin was 8.9%, reflecting a 40 basis point increase [1][2] Shareholder Returns - The company repurchased $0.9 billion worth of shares during the year, with approximately $0.6 billion remaining under the current repurchase program [1][2] - Dividends declared were $3.38 per share, with a quarterly dividend of $0.89 announced for payment on April 30, 2026 [1][2] Market Dynamics - Non-residential markets showed strong performance with a 10% revenue increase, while residential markets remained weak, with a 2% decline in revenue [1][2] - The company is positioned to capitalize on long-term growth drivers in both residential and non-residential sectors, particularly in water and air solutions [1][2] Strategic Acquisitions - Ferguson invested $276 million in eight acquisitions, which are expected to generate annualized revenue exceeding $300 million [1][2] - The company continues to focus on consolidating its market presence through strategic acquisitions and organic growth initiatives [1][2]

Core Viewpoint - Ferguson plc has experienced significant changes in institutional ownership, with some investors increasing their stakes while others have reduced theirs, indicating mixed sentiment in the market [2][3]. Group 1: Institutional Holdings - Armor Advisors L.L.C. reduced its stake in Ferguson by 59.7% in Q3, owning 15,386 shares after selling 22,750 shares, representing 1.9% of its holdings [2]. - Cornerstone Planning Group LLC increased its stake by 178.3% in Q3, now owning 128 shares valued at $31,000 after acquiring 82 additional shares [3]. - True Wealth Design LLC boosted its holdings by 145.3% in Q2, owning 130 shares valued at $28,000 after acquiring 77 shares [3]. - Quent Capital LLC purchased a new position worth approximately $43,000 in Q3 [3]. - Harbour Investments Inc. increased its holdings by 61.3% in Q2, now owning 242 shares valued at $53,000 [3]. - Institutional investors and hedge funds own 81.98% of Ferguson's stock [3]. Group 2: Financial Performance - Ferguson reported quarterly earnings of $2.84 EPS, beating the consensus estimate of $2.77 by $0.07, with revenue of $8.17 billion, up 5.1% year-over-year [5]. - The company has a net margin of 6.28% and a return on equity of 35.73% [5]. Group 3: Stock Performance and Metrics - Ferguson's stock opened at $255.08, with a 1-year low of $146.00 and a high of $271.64 [4]. - The company has a market capitalization of $49.88 billion, a price-to-earnings ratio of 25.77, and a PEG ratio of 2.12 [4]. - The stock has a debt-to-equity ratio of 0.68, a quick ratio of 1.01, and a current ratio of 1.88 [4]. Group 4: Dividend Information - Ferguson declared a quarterly dividend of $0.89 per share, with an annualized dividend of $3.56 and a yield of 1.4% [6][7]. - The payout ratio stands at 35.96% [6]. Group 5: Analyst Ratings - Analysts maintain a consensus rating of "Moderate Buy" for Ferguson, with two analysts rating it as Strong Buy, eleven as Buy, and six as Hold [8]. - The consensus price target for Ferguson is $253.00, with Robert W. Baird raising the target price from $262.00 to $265.00 [8].

Core Viewpoint - Ferguson Enterprises Inc. will release its financial results for the period ending December 31, 2025, and provide an update on market opportunities and strategy on February 24, 2026 [1] Financial Results Announcement - The financial results will be available on Ferguson's website at 6:45 a.m. ET / 11:45 a.m. GMT [1] - A conference call and webcast for analysts and investors will take place at 8:30 a.m. ET / 1:30 p.m. GMT [1]