Ferguson [NYSE: FERG] Announces Purchase of its Own Shares

Ferguson plc [NYSE: FERG] disclosed Friday that in accordance with its $400 million share repurchase program it has bought for treasury its ordinary shares of 10 pence each on March 25, 2021. The firm has announced the $400 million share buyback program on March 16, 2021.

Ferguson declared that it has buyback 70,000 shares on March 25, 2021, and paid the price of £85.648676 per share. The Broker of the firm in this transaction was Barclays Capital Securities Limited. FERG disclosed that it is planning to hold these shares in Treasury. The firm is holding 7,340,571 Shares in Treasury including the shares which have been bought but have not settled yet.

Shares of Ferguson surged 0.64% at $118.85 during the trading session of Thursday. The firm has reported a trading volume of 39.38K as compared to the average volume of 11.65K. In the past 52-weeks of trading, the firm’s share went from a low point around $54.42 to and a high point around $127.04. FERG has a total market capitalization of $26.75 billion at the time of writing.

Shareholders of the firm will use the figure of 224,830,611 as the average level for the computations by which they will decide whether or not they are necessary to inform their stake in, or a modification to their stake in, the firm under the Disclosure and Transparency Rules.