Berenberg Bank Reaffirms “Buy” Rating for Balfour Beatty (LON:BBY)

Posted by Trevor Kearing on Aug 17th, 2024

Berenberg Bank restated their buy rating on shares of Balfour Beatty (LON:BBY – Free Report) in a report published on Thursday, Marketbeat Ratings reports. Berenberg Bank currently has a GBX 475 ($6.06) target price on the stock.

Balfour Beatty Trading Up 0.9 %

Shares of BBY opened at GBX 411.60 ($5.26) on Thursday. The business’s 50-day moving average price is GBX 389.88 and its 200 day moving average price is GBX 370.14. The stock has a market capitalization of £2.11 billion, a P/E ratio of 1,176.00, a P/E/G ratio of 3.75 and a beta of 0.81. Balfour Beatty has a 1-year low of GBX 291.60 ($3.72) and a 1-year high of GBX 437.60 ($5.59). The company has a current ratio of 1.01, a quick ratio of 0.84 and a debt-to-equity ratio of 81.21.

Balfour Beatty Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, October 31st will be paid a GBX 3.80 ($0.05) dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a yield of 0.93%. Balfour Beatty’s dividend payout ratio is currently 3,428.57%.

Insider Buying and Selling

In related news, insider Leo Quinn purchased 37,148 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were purchased at an average price of GBX 349 ($4.46) per share, with a total value of £129,646.52 ($165,534.37). 1.25% of the stock is currently owned by company insiders.

About Balfour Beatty

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Balfour Beatty plc finances, designs, develops, builds, and maintains infrastructure in the United Kingdom, the United States, and internationally. It operates through three segments: Construction Services, Support Services, and Infrastructure Investments. The company constructs buildings, including commercial, healthcare, education, retail, and residential assets; and infrastructure assets comprising highways and railways, as well as other large-scale infrastructure assets, such as waste, water, and energy plants.