Balfour Beatty plc (BBY) Receives Buy Rating from Liberum Capital
Liberum Capital reaffirmed their buy rating on shares of Balfour Beatty plc (LON:BBY) in a research note released on Friday morning. Liberum Capital currently has a GBX 350 ($4.60) price objective on the stock.
A number of other analysts have also recently issued reports on BBY. Peel Hunt reissued an add rating and issued a GBX 300 ($3.95) price objective on shares of Balfour Beatty plc in a research note on Wednesday, August 16th. Numis Securities Ltd reissued a buy rating and issued a GBX 350 ($4.60) price objective on shares of Balfour Beatty plc in a research note on Wednesday, August 16th. Finally, Berenberg Bank increased their price objective on shares of Balfour Beatty plc from GBX 330 ($4.34) to GBX 350 ($4.60) and gave the stock a buy rating in a research note on Friday, August 25th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of GBX 327.57 ($4.31).
Shares of Balfour Beatty plc (BBY) traded up GBX 0.13 ($0.00) during midday trading on Friday, hitting GBX 276.23 ($3.63). 1,720,000 shares of the stock were exchanged, compared to its average volume of 1,650,000. Balfour Beatty plc has a 1 year low of GBX 252.50 ($3.32) and a 1 year high of GBX 299.30 ($3.94).
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The company also recently announced a dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, October 5th will be issued a GBX 1.20 ($0.02) dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a dividend yield of 0.43%.
In related news, insider Leo Quinn acquired 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was bought at an average price of GBX 263 ($3.46) per share, for a total transaction of £263,000 ($345,916.09). Also, insider Barbara Moorhouse acquired 4,000 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were bought at an average price of GBX 269 ($3.54) per share, with a total value of £10,760 ($14,152.31). Insiders bought a total of 104,170 shares of company stock valued at $27,421,042 in the last 90 days.
Balfour Beatty plc Company Profile
Balfour Beatty plc is an infrastructure company that provides maintenance, upgrade and management services in power transmission, utilities infrastructure, and road and rail. The Company operates through three segments: Construction Services segment, which is engaged in the physical construction of an asset; Support Services segment, which is engaged in supporting existing assets or functions, such as asset maintenance and refurbishment, and Infrastructure Investments segment, which is engaged in the acquisition operation and disposal of infrastructure assets, such as roads, hospitals, schools, student accommodation, military housing, waste and biomass, offshore transmission networks and other concessions.
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