Balfour Beatty plc (LON:BBY – Get Free Report)’s share price hit a new 52-week high on Thursday . The stock traded as high as GBX 458 ($5.95) and last traded at GBX 454.06 ($5.90), with a volume of 266679 shares changing hands. The stock had previously closed at GBX 449 ($5.83).
Analyst Upgrades and Downgrades
Separately, Berenberg Bank restated a “buy” rating and set a GBX 475 ($6.17) target price on shares of Balfour Beatty in a research note on Thursday, August 15th.
Read Our Latest Analysis on BBY
Balfour Beatty Stock Up 0.5 %
Balfour Beatty Cuts Dividend
The firm also recently announced a dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, October 31st will be paid a dividend of GBX 3.80 ($0.05) per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a dividend yield of 0.93%. Balfour Beatty’s dividend payout ratio is presently 2,857.14%.
Insider Activity
In other news, insider Philip Harrison sold 360,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of GBX 409 ($5.31), for a total transaction of £1,472,400 ($1,911,711.24). In related news, insider Robert MacLeod purchased 17,674 shares of Balfour Beatty stock in a transaction dated Tuesday, September 17th. The shares were acquired at an average price of GBX 422 ($5.48) per share, with a total value of £74,584.28 ($96,837.55). Also, insider Philip Harrison sold 360,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of GBX 409 ($5.31), for a total transaction of £1,472,400 ($1,911,711.24). Insiders own 1.15% of the company’s stock.
Balfour Beatty Company Profile
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.
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