09:35 AM EDT, 06/10/2024 (MT Newswires) -- Ferguson (FERG) said Monday it has retained JP Morgan Securities for its $4 billion share-repurchase program.

The arrangement, starting Monday and ending by Sept. 26, will see JP Morgan Securities independently manage the timing of the repurchases. The maximum allocation for the tranche is $235 million.

Shares of Ferguson were down 0.8% in early trading.

Price: 195.90, Change: -2.78, Percent Change: -1.40