Ferguson PLC (FERG.L)
19 Jul 2019
Thu, Jun 13 2019
Activist fund Trian Fund Management LP said it has built up a 6% stake in Ferguson Plc, disclosing the investment days after the British plumbing products company reported disappointing results and slowing growth in its biggest market.
* Trian has been in talks with co's management (Adds background, details)
June 13 Nelson Peltz's Trian Fund Management LP has acquired a stake of about 6% in plumbing products distributor Ferguson Plc, calling the British company an "attractive" investment that trades at a discount to peers in the United States.
** Shares of British plumbing products distributor Ferguson Plc fell 6.2% to 5016p, slipping to the bottom of the blue-chip index
** Shares of Ferguson Plc, the world's largest supplier of heating and plumbing equipment, fall 4% to hit bottom of FTSE blue-chip index
June 10 British plumbing products distributor Ferguson Plc's on Monday reported third-quarter revenue that fell short of estimates as growth slowed in the United States, its largest market.
May 22 British plumbing products distributor Ferguson Plc on Wednesday appointed Geoff Drabble as chairman to succeed Gareth Davis, who has held the role for almost nine years.
* Shares fall over 9 pct (Adds details, shares, price target cut,)
March 26 Ferguson Plc's half-year ongoing trading profit rose about 7.7 percent and the company said on Tuesday it expected trading profit for the year to be towards the lower end of analyst expectations.