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An update from Balfour Beatty ( (GB:BBY) ) is now available.
Balfour Beatty announced the purchase of 58,321 ordinary shares as part of its ongoing share buyback program, with shares bought at an average price of 626.3464 pence. The repurchased shares will be held in treasury, reducing the number of shares in circulation and potentially impacting shareholder voting rights. This move is part of a larger strategy where the company has repurchased over 21 million shares, reflecting its commitment to returning value to shareholders and potentially enhancing its market position.
The most recent analyst rating on (GB:BBY) stock is a Buy with a £688.00 price target. To see the full list of analyst forecasts on Balfour Beatty stock, see the GB:BBY Stock Forecast page.
Spark’s Take on GB:BBY Stock
According to Spark, TipRanks’ AI Analyst, GB:BBY is a Outperform.
Balfour Beatty’s overall stock score is driven by strong financial performance and positive technical indicators. The company’s robust cash flow and stable balance sheet are significant strengths. While the stock shows bullish momentum, the high RSI suggests caution due to potential overbought conditions. The valuation is reasonable but not particularly compelling, which slightly tempers the overall score.
To see Spark’s full report on GB:BBY stock, click here.
More about Balfour Beatty
Balfour Beatty is a leading international infrastructure group with over 27,000 employees. The company is involved in financing, developing, building, maintaining, and operating complex infrastructure projects that support national economies and local communities. Notable projects include the Hinkley Point C nuclear power station in the UK, the Lyric Theatre in Hong Kong, and the Automated People Mover at Los Angeles International Airport.
Average Trading Volume: 1,091,398
Technical Sentiment Signal: Buy
Current Market Cap: £3.09B
Learn more about BBY stock on TipRanks’ Stock Analysis page.