Balfour Beatty plc (BBY) PT Lowered to GBX 273
Balfour Beatty plc (LON:BBY) had its target price dropped by equities researchers at JPMorgan Chase & Co. from GBX 280 ($3.46) to GBX 273 ($3.37) in a research note issued to investors on Friday. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s target price would suggest a potential upside of 1.56% from the stock’s current price.
Several other equities analysts have also recently issued reports on the stock. Peel Hunt reaffirmed an “add” rating and issued a GBX 300 ($3.71) price objective on shares of Balfour Beatty plc in a research note on Thursday, March 16th. Liberum Capital reaffirmed a “buy” rating and issued a GBX 335 ($4.14) price objective on shares of Balfour Beatty plc in a research note on Sunday, March 12th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 310 ($3.83) price objective on shares of Balfour Beatty plc in a research note on Thursday, February 9th. Finally, Beaufort Securities reaffirmed a “hold” rating on shares of Balfour Beatty plc in a research note on Wednesday, December 14th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Balfour Beatty plc has a consensus rating of “Buy” and a consensus target price of GBX 297.43 ($3.67).
Balfour Beatty plc (LON:BBY) opened at 266.20 on Friday. The firm has a 50-day moving average of GBX 272.87 and a 200-day moving average of GBX 273.28. The firm’s market capitalization is GBX 1.81 billion. Balfour Beatty plc has a 1-year low of GBX 184.90 and a 1-year high of GBX 299.30.
The company also recently announced a dividend, which will be paid on Friday, July 7th. Stockholders of record on Thursday, April 20th will be given a GBX 1.80 ($0.02) dividend. This is an increase from Balfour Beatty plc’s previous dividend of $0.90. This represents a dividend yield of 0.66%. The ex-dividend date of this dividend is Thursday, April 20th.
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In other news, insider Stuart John Doughty bought 4,550 shares of the company’s stock in a transaction dated Friday, February 10th. The shares were acquired at an average cost of GBX 271 ($3.35) per share, with a total value of £12,330.50 ($15,228.48). Also, insider Philip Harrison sold 10,134 shares of Balfour Beatty plc stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of GBX 277 ($3.42), for a total transaction of £28,071.18 ($34,668.62).
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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