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Ferguson plc, which has seen its stock plummet over the past month, will report its third-quarter earnings on Tuesday morning.
RACHELLE AKUFFO: All right, now it's time for our stock to watch. And my pick is Ferguson PLC, which distributes plumbing and heating products to professional contractors and consumers mainly in the US, the UK, Nordics, Canada, and of course, Central Europe. Now, they are actually reporting earnings tomorrow. As you can see there, the stock taking a beating there over the last month.
And we are seeing that rising costs and expenses have been a major concern, thanks to some of those supply chain issues that we were just talking about, as well as the slowdown that we're seeing in the pace of new homebuilding. But we are seeing that the company is continuing its $2 billion share repurchase program. But the stock is down going into earnings today and has declined steadily year to date by 40%. So we'll see if they're able to bounce back tomorrow.