FERG LN (Update)

Ferguson Plc.

Consumer, Industrial/Transportation, Event Driven/Special Sit


Presented:01/29/2020
Price:£69.32
Cap:$23.94B
Current Price:£154.30
Cap:$47.87B

Presented

Date01/29/2020
Price£69.32
Market Cap$23.94B
Ent Value$23.49B
P/E Ratio19.14x
Book Value£15.54
Div Yield1.62%
Shares O/S224.78M
Ave Daily Vol389,393
Short IntN/A

Current

Price£154.30
Market Cap$47.87B
Ferguson Plc engages in the supply of plumbing and heating products to professional contractors & consumers; repair, maintenance and improvement and new construction markets through its subsidiaries. The company was founded in 1887 and is headquartered in Wokingham, the United Kingdom.

Please note, this is an update to Ferguson PLC (FERG LN) – Long, which was first presented on 8/1/2019.

Publicly traded companies mentioned herein: Ferguson PLC (FERG LN), Home Depot Inc/The (HD), Lowe’s Cos Inc (LOW), Pool Corp (POOL), Watsco Inc (WSO), WW Granger Inc (GWW)

Highlights

The presenter remains long shares of Ferguson PLC (FERG LN), the largest specialty distributor of plumbing supplies in the US that he previously described as “the largest company that you’ve never heard of.” Through a restructuring of the company, FERG will be comprised entirely of its strong US business and could relist in the US. In his view, execution on these two initiatives would give the stock 100% upside on its multiple rerating in line with more appropriate comps (~20x FY2021 EBITDA), while additionally growing earnings at a CAGR in the teen% range. 

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Idea Discussion

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