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Balfour Beatty Advances Share Buyback Program

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Balfour Beatty Advances Share Buyback Program

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Balfour Beatty ( (GB:BBY) ) has provided an update.

Balfour Beatty has announced the purchase of 115,000 ordinary shares as part of its ongoing share buyback program, with shares bought at a volume-weighted average price of 500.3348 pence. This move is part of a larger strategy where the company has repurchased over 13 million shares, which are held in treasury without voting rights, potentially impacting shareholder calculations under FCA rules.

The most recent analyst rating on (GB:BBY) stock is a Buy with a £5.80 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 strong financial performance and optimistic earnings call outlook are the most significant factors, combined with positive technical indicators suggesting a strong market trend. The company’s valuation is reasonable, supported by strategic corporate events such as an active share buyback program.

To see Spark’s full report on GB:BBY stock, click here.

More about Balfour Beatty

Balfour Beatty is a leading international infrastructure group employing over 27,000 people. The company is involved in financing, developing, building, maintaining, and operating complex infrastructure projects globally, including significant ventures like the Hinkley Point C nuclear power station in the UK and the Automated People Mover at Los Angeles International Airport.

Average Trading Volume: 1,182,170

Technical Sentiment Signal: Buy

Current Market Cap: £2.51B

For a thorough assessment of BBY stock, go to TipRanks’ Stock Analysis page.

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