FERG
LONGFERGUSON ENTERPRISES INC
Research: Finviz ↗·Perplexity ↗
🗄 Viewing archived Q1 2026 data — frozen, no longer refreshed.
News Summary
NeutralFerguson delivered Q1 2026 results beating EPS estimates by 5% with strong operating margin expansion and maintained full-year guidance, while executing strategically through six bolt-on acquisitions ($350M revenue), the major $1.6B FloWorks deal, and achieving S&P 500 inclusion in August 2026. However, Goldman Sachs downgraded the stock in July citing weak residential construction sector headwinds, and the company explicitly noted lower volumes despite price inflation, signaling demand softness beneath headline growth.
Red flags
- •Lower volumes reported in Q1 despite mid-single-digit price inflation, indicating demand weakness
- •Goldman Sachs downgrade (Buy to Neutral, PT cut from $315 to $265) citing 'lackluster' short-term revenue growth in residential construction
- •Full-year guidance maintained at 'low to mid-single digit' growth — essentially flat to low growth despite 6 acquisitions and $1.6B FloWorks deal closing expected in Q3
- •Residential construction remains a material headwind despite company's focus on non-residential projects
Funds Buying (4)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Durable Capital Partners | Henry Ellenbogen | 2.2M | +631K | $511M | 5.3% | +40% | Existing |
| Baupost Group | Seth Klarman | 1.4M | +305K | $336M | 6.6% | +27% | Existing |
| D1 Capital | Dan Sundheim | 349K | +349K | $81M | 0.7% | — | NEW |
| Point72 | Steve Cohen | 202K | +202K | $47M | <0.1% | — | NEW |
Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter. % of Fund is the position's share of the fund's reported equity portfolio — it drives the size weighting in the conviction score.
Portfolio Context
Where FERG ranks in each buying fund's book, and the positions immediately around it. What a holding sits next to often says more about the thesis than the position size does.
position #7 of this fund's book
- 4UNION PAC CORP$374M
- 5ELEVANCE HEALTH INC FORMERLY$373M
- 6ALPHABET INC$339M
- 7FERGUSON ENTERPRISES INC$336M
- 8WILLIS TOWERS WATSON PLC LTD$260M
- 9AON PLC$248M
- 10VISA INC$212M
position #7 of this fund's book
- 4API GROUP CORP$599M
- 5QNITY ELECTRONICS INC$587M
- 6XPO INC$571M
- 7FERGUSON ENTERPRISES INC$511M
- 8MEDLINE INC$323M
- 9CARVANA CO$313M
- 10CLEAN HARBORS INC$301M
position #39 of this fund's book
- 36LIVE NATION ENTERTAINMENT IN$103M
- 37ANALOG DEVICES INC$93M
- 38AFFIRM HLDGS INC$89M
- 39FERGUSON ENTERPRISES INC$81M
- 40TOPBUILD COR$75M
Values are quarter-end position sizes. Shown only for funds where FERG ranks inside their 40 largest equity positions — below that, neighbouring names carry no signal. Adjacency is an inference about a fund's reasoning, not a disclosure of it.
Signal History
| Quarter | Direction | Funds | Score | vs SPY |
|---|---|---|---|---|
| Q2 2026 | LONG | 4 | 4.80 | -1.2% |
| Q1 2026 | LONG | 4 | 4.90 | -14.3% |
Same issuer appearing in consecutive quarters — persistent institutional conviction. Returns are frozen at each archived quarter's last refresh.
Beneficial Ownership (13D/13G)
| Filer | Form | Shares | % of Class | Filed | Src |
|---|---|---|---|---|---|
| The Vanguard Group | SC 13G/A | 19.6M | 10.1% | 2026-03-05 | ↗ |
SC 13D = active intent to influence control (10-day filing deadline after crossing 5%). SC 13G = passive accumulation, no intent to influence control.